First Fiduciary Investment Counsel Inc. Invests $315,000 in Norfolk Southern Corporation $NSC

Key Points

• First Fiduciary Investment Counsel Inc. invested approximately $315,000 in Norfolk Southern Corporation by purchasing 1,230 shares in the second quarter.
• Deutsche Bank raised its price target for Norfolk Southern from $290.00 to $354.00, maintaining a "buy" rating, while other analysts have varying ratings and price targets, indicating mixed sentiment about the stock.
• Norfolk Southern's recent quarterly earnings exceeded expectations, reporting $3.29 EPS against an estimate of $3.24, along with a dividend yield of 1.9% paid to shareholders.

First Fiduciary Investment Counsel Inc. purchased a new position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) in the second quarter, according to its most recent disclosure with the SEC. The firm purchased 1,230 shares of the railroad operator's stock, valued at approximately $315,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. WPG Advisers LLC bought a new position in shares of Norfolk Southern in the 1st quarter valued at approximately $27,000. HWG Holdings LP bought a new position in shares of Norfolk Southern in the 1st quarter valued at approximately $35,000. Physician Wealth Advisors Inc. raised its stake in shares of Norfolk Southern by 129.2% in the 1st quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock valued at $35,000 after acquiring an additional 84 shares in the last quarter. Financial Gravity Asset Management Inc. bought a new position in shares of Norfolk Southern in the 1st quarter valued at approximately $41,000. Finally, Golden State Wealth Management LLC raised its stake in shares of Norfolk Southern by 883.3% in the 1st quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator's stock valued at $42,000 after acquiring an additional 159 shares in the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently weighed in on NSC. Deutsche Bank Aktiengesellschaft raised their price objective on Norfolk Southern from $290.00 to $354.00 and gave the company a "buy" rating in a research note on Wednesday, October 1st. Royal Bank Of Canada downgraded Norfolk Southern from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, July 29th. Barclays lifted their price target on Norfolk Southern from $300.00 to $320.00 and gave the stock an "overweight" rating in a research report on Thursday, October 2nd. Susquehanna lifted their price target on Norfolk Southern from $284.00 to $295.00 and gave the stock a "neutral" rating in a research report on Thursday, September 25th. Finally, Sanford C. Bernstein lifted their price target on Norfolk Southern from $295.00 to $305.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Eight equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $293.25.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $288.34 on Friday. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $302.24. The firm has a market capitalization of $64.77 billion, a PE ratio of 19.48, a PEG ratio of 2.65 and a beta of 1.33. The business's 50 day moving average is $284.20 and its 200-day moving average is $257.90. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.11.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share for the quarter, topping the consensus estimate of $3.24 by $0.05. Norfolk Southern had a return on equity of 19.35% and a net margin of 27.51%.The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.10 billion. Norfolk Southern has set its FY 2025 guidance at EPS. Sell-side analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Friday, August 1st were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, August 1st. Norfolk Southern's dividend payout ratio (DPR) is presently 36.49%.

Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.

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