Flputnam Investment Management Co. Grows Stock Holdings in Norfolk Southern Corporation $NSC

Key Points

• Flputnam Investment Management Co. has increased its holdings in Norfolk Southern Corporation by 10.6%, owning a total of 13,577 shares valued at approximately $3.22 million as of the latest reporting period.
• Norfolk Southern's recent earnings report indicated earnings per share of $3.29, surpassing analyst estimates and resulting in a revenue of $3.11 billion for the quarter.
• The company also announced a quarterly dividend of $1.35, representing an annualized dividend yield of 1.9% with a payout ratio of 36.49%.

Flputnam Investment Management Co. grew its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 10.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 13,577 shares of the railroad operator's stock after acquiring an additional 1,300 shares during the quarter. Flputnam Investment Management Co.'s holdings in Norfolk Southern were worth $3,216,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also modified their holdings of NSC. CoreCap Advisors LLC lifted its holdings in shares of Norfolk Southern by 1.5% in the fourth quarter. CoreCap Advisors LLC now owns 3,097 shares of the railroad operator's stock valued at $727,000 after purchasing an additional 45 shares in the last quarter. Canandaigua National Trust Co of Florida lifted its holdings in shares of Norfolk Southern by 4.9% in the first quarter. Canandaigua National Trust Co of Florida now owns 956 shares of the railroad operator's stock valued at $226,000 after purchasing an additional 45 shares in the last quarter. Capital Investment Advisory Services LLC lifted its holdings in shares of Norfolk Southern by 1.8% in the first quarter. Capital Investment Advisory Services LLC now owns 2,556 shares of the railroad operator's stock valued at $605,000 after purchasing an additional 45 shares in the last quarter. Certified Advisory Corp lifted its holdings in shares of Norfolk Southern by 1.0% in the first quarter. Certified Advisory Corp now owns 4,644 shares of the railroad operator's stock valued at $1,100,000 after purchasing an additional 47 shares in the last quarter. Finally, Malaga Cove Capital LLC lifted its holdings in shares of Norfolk Southern by 2.1% in the fourth quarter. Malaga Cove Capital LLC now owns 2,451 shares of the railroad operator's stock valued at $575,000 after purchasing an additional 50 shares in the last quarter. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Stock Down 0.8%

NYSE NSC traded down $2.23 during trading hours on Friday, hitting $277.53. The company's stock had a trading volume of 1,301,706 shares, compared to its average volume of 1,605,651. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $291.69. The company's 50-day simple moving average is $274.41 and its two-hundred day simple moving average is $249.23. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $62.34 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 2.47 and a beta of 1.29.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its earnings results on Tuesday, July 29th. The railroad operator reported $3.29 EPS for the quarter, topping the consensus estimate of $3.24 by $0.05. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. The firm had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $3.10 billion. Norfolk Southern has set its FY 2025 guidance at EPS. Research analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Investors of record on Friday, August 1st were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, August 1st. Norfolk Southern's payout ratio is 36.49%.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on NSC shares. The Goldman Sachs Group reiterated a "neutral" rating and set a $278.00 target price on shares of Norfolk Southern in a report on Monday, June 2nd. Susquehanna reissued a "neutral" rating and set a $260.00 price target (up previously from $250.00) on shares of Norfolk Southern in a research report on Tuesday, June 24th. Citigroup boosted their price target on Norfolk Southern from $288.00 to $305.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. UBS Group boosted their price target on Norfolk Southern from $275.00 to $279.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. Finally, Benchmark downgraded Norfolk Southern from a "buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $285.15.

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.