Iowa State Bank Invests $1.22 Million in Norfolk Southern Corporation $NSC

Key Points

• Iowa State Bank has invested $1.22 million in Norfolk Southern Corporation, acquiring 4,758 shares valued at approximately $1,218,000 in the 2nd quarter.
• Several institutional investors, including Price T Rowe Associates and Adage Capital Partners, have significantly increased their positions in Norfolk Southern, contributing to institutional ownership now at 75.10%.
• Norfolk Southern recently declared a quarterly dividend of $1.35, resulting in an annualized dividend yield of 1.8% based on a payout ratio of 36.49%.

Iowa State Bank bought a new position in Norfolk Southern Corporation (NYSE:NSC - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 4,758 shares of the railroad operator's stock, valued at approximately $1,218,000.

Several other institutional investors have also recently made changes to their positions in NSC. Price T Rowe Associates Inc. MD increased its position in Norfolk Southern by 31.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,319,010 shares of the railroad operator's stock valued at $2,680,910,000 after buying an additional 2,710,930 shares in the last quarter. Kingstone Capital Partners Texas LLC bought a new position in Norfolk Southern during the 2nd quarter valued at approximately $321,393,000. Adage Capital Partners GP L.L.C. increased its position in Norfolk Southern by 341.9% during the 1st quarter. Adage Capital Partners GP L.L.C. now owns 789,950 shares of the railroad operator's stock valued at $187,100,000 after buying an additional 611,198 shares in the last quarter. Nuveen LLC bought a new position in Norfolk Southern during the 1st quarter valued at approximately $122,256,000. Finally, Phoenix Financial Ltd. bought a new position in Norfolk Southern during the 1st quarter valued at approximately $110,209,000. Institutional investors own 75.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research analysts recently weighed in on the company. Citigroup raised their price objective on Norfolk Southern from $288.00 to $305.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Robert W. Baird raised their price objective on Norfolk Southern from $255.00 to $300.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Sanford C. Bernstein raised their price objective on Norfolk Southern from $295.00 to $305.00 and gave the company an "outperform" rating in a research report on Monday, July 21st. Evercore ISI lifted their target price on Norfolk Southern from $289.00 to $298.00 in a report on Thursday, September 25th. Finally, Weiss Ratings reissued a "buy (b-)" rating on shares of Norfolk Southern in a report on Saturday, September 27th. Eight equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $292.50.

Norfolk Southern Stock Up 0.6%

Norfolk Southern stock opened at $300.02 on Monday. The firm has a market cap of $67.39 billion, a price-to-earnings ratio of 20.27, a PEG ratio of 2.69 and a beta of 1.33. The stock has a fifty day simple moving average of $282.63 and a two-hundred day simple moving average of $256.10. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $302.24. 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 released its quarterly earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $3.24 by $0.05. The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.10 billion. Norfolk Southern had a return on equity of 19.35% and a net margin of 27.51%. Norfolk Southern has set its FY 2025 guidance at EPS. Equities analysts predict that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Friday, August 1st were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, August 1st. Norfolk Southern's dividend payout ratio (DPR) is 36.49%.

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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