Kingstone Capital Partners Texas LLC Invests $321.39 Million in Norfolk Southern Corporation $NSC

Key Points

• Kingstone Capital Partners Texas LLC has acquired 1,376,828 shares of Norfolk Southern Corporation, valued at approximately $321.4 million, representing 0.61% of the company's ownership.
• Norfolk Southern reported $3.29 EPS for the last quarter, exceeding expectations and generating $3.11 billion in revenue.
• The company has declared a quarterly dividend of $1.35 per share, yielding 1.9%, with a payout ratio of 36.49%.

Kingstone Capital Partners Texas LLC acquired a new position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 1,376,828 shares of the railroad operator's stock, valued at approximately $321,393,000. Kingstone Capital Partners Texas LLC owned approximately 0.61% of Norfolk Southern as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of the company. Vanguard Group Inc. grew its stake in Norfolk Southern by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 20,321,359 shares of the railroad operator's stock worth $4,813,114,000 after purchasing an additional 232,195 shares in the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Norfolk Southern by 31.5% in 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 purchasing an additional 2,710,930 shares during the period. Boston Partners raised its stake in Norfolk Southern by 3.4% during the 1st quarter. Boston Partners now owns 4,159,070 shares of the railroad operator's stock valued at $983,161,000 after acquiring an additional 138,678 shares during the last quarter. EdgePoint Investment Group Inc. raised its stake in Norfolk Southern by 0.7% during the 1st quarter. EdgePoint Investment Group Inc. now owns 3,998,335 shares of the railroad operator's stock valued at $947,006,000 after acquiring an additional 29,753 shares during the last quarter. Finally, American Century Companies Inc. raised its stake in shares of Norfolk Southern by 6.4% during the 1st quarter. American Century Companies Inc. now owns 3,128,102 shares of the railroad operator's stock worth $740,891,000 after buying an additional 189,076 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company's stock.

Analyst Upgrades and Downgrades

NSC has been the topic of a number of research reports. Citigroup upped their price target on Norfolk Southern from $288.00 to $305.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Evercore ISI reaffirmed an "in-line" rating and issued a $289.00 target price (up from $279.00) on shares of Norfolk Southern in a research report on Wednesday, July 30th. UBS Group raised their price objective on Norfolk Southern from $275.00 to $279.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Bank of America lifted their target price on Norfolk Southern from $290.00 to $305.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Finally, Robert W. Baird lifted their target price on Norfolk Southern from $255.00 to $300.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Seven 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, Norfolk Southern currently has an average rating of "Hold" and an average price target of $286.25.

Norfolk Southern Price Performance

NSC stock traded up $6.89 during trading on Monday, reaching $290.60. 2,918,121 shares of the company were exchanged, compared to its average volume of 1,627,125. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $294.78. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.79 and a quick ratio of 0.71. The company has a market capitalization of $65.27 billion, a price-to-earnings ratio of 19.64, a P/E/G ratio of 2.52 and a beta of 1.29. The company has a 50-day moving average of $277.90 and a two-hundred day moving average of $251.75.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its earnings results on Tuesday, July 29th. The railroad operator reported $3.29 EPS for the quarter, beating analysts' consensus estimates of $3.24 by $0.05. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates 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. As a group, equities analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Friday, August 1st were paid a dividend of $1.35 per share. 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 dividend payout ratio (DPR) is 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.