ICONIQ Capital LLC Buys New Shares in Norfolk Southern Corporation $NSC

Key Points

• ICONIQ Capital LLC recently acquired a new stake in Norfolk Southern Corporation (NYSE:NSC), purchasing 1,276 shares valued at approximately $302,000 during the first quarter.
• The railroad operator reported $3.29 earnings per share for the last quarter, beating the consensus estimate by $0.05 and achieving a net margin of 27.51%.
• Norfolk Southern announced a quarterly dividend of $1.35 per share, yielding 1.9%, with a current dividend payout ratio of 36.49%.

ICONIQ Capital LLC purchased a new stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor purchased 1,276 shares of the railroad operator's stock, valued at approximately $302,000.

Several other institutional investors and hedge funds also recently made changes to their positions in the stock. CoreCap Advisors LLC grew its holdings in shares of Norfolk Southern by 1.5% in the 4th quarter. CoreCap Advisors LLC now owns 3,097 shares of the railroad operator's stock valued at $727,000 after buying an additional 45 shares during the period. Canandaigua National Trust Co of Florida lifted its holdings in Norfolk Southern by 4.9% during the first quarter. Canandaigua National Trust Co of Florida now owns 956 shares of the railroad operator's stock worth $226,000 after acquiring an additional 45 shares in the last quarter. Capital Investment Advisory Services LLC lifted its holdings in Norfolk Southern by 1.8% during the first quarter. Capital Investment Advisory Services LLC now owns 2,556 shares of the railroad operator's stock worth $605,000 after acquiring an additional 45 shares in the last quarter. Certified Advisory Corp grew its stake in 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 acquiring an additional 47 shares during the period. Finally, Malaga Cove Capital LLC increased 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 worth $575,000 after acquiring an additional 50 shares in the last quarter. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $277.2250 on Tuesday. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $291.69. The company's fifty day simple moving average is $270.63 and its 200-day simple moving average is $247.89. The firm has a market cap of $62.27 billion, a PE ratio of 18.73, a P/E/G ratio of 2.52 and a beta of 1.31. The company has a quick ratio of 0.71, a current ratio of 0.79 and a debt-to-equity ratio of 1.11.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share (EPS) for the quarter, beating 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 analyst estimates of $3.10 billion. Norfolk Southern has set its FY 2025 guidance at EPS. Equities research analysts expect that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

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

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on the company. TD Cowen raised Norfolk Southern from a "hold" rating to a "buy" rating and raised their price target for the stock from $263.00 to $323.00 in a research report on Monday, July 21st. Robert W. Baird increased their target price on Norfolk Southern from $255.00 to $300.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $288.00 price target (up previously from $282.00) on shares of Norfolk Southern in a research note on Wednesday, July 30th. Bank of America upped their price target on shares of Norfolk Southern from $290.00 to $305.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Finally, Susquehanna restated a "neutral" rating and set a $260.00 price objective (up from $250.00) on shares of Norfolk Southern in a report on Tuesday, June 24th. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. Based on data from MarketBeat, Norfolk Southern currently has a consensus rating of "Hold" and a consensus price target of $285.15.

About Norfolk Southern

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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