KLP Kapitalforvaltning AS Boosts Stake in Norfolk Southern Corporation $NSC

Key Points

• KLP Kapitalforvaltning AS has increased its stake in Norfolk Southern Corporation by 1.3%, now holding 79,113 shares valued at approximately $20.25 million.
• Wall Street analysts have issued optimistic forecasts for Norfolk Southern, with several upgrades and price targets ranging from $305 to $323, reflecting a positive outlook for the company's stock.
• Norfolk Southern recently declared a quarterly dividend of $1.35 per share, representing a 1.8% yield, with a dividend payout ratio of 36.49%.

KLP Kapitalforvaltning AS boosted its stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 1.3% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 79,113 shares of the railroad operator's stock after buying an additional 1,000 shares during the period. KLP Kapitalforvaltning AS's holdings in Norfolk Southern were worth $20,251,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds also recently bought and sold shares of the company. WPG Advisers LLC purchased a new stake in Norfolk Southern during the first quarter worth $27,000. HWG Holdings LP purchased a new stake in shares of Norfolk Southern during the 1st quarter valued at $35,000. Physician Wealth Advisors Inc. lifted its holdings in shares of Norfolk Southern by 129.2% during the 1st quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock valued at $35,000 after purchasing an additional 84 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in shares of Norfolk Southern during the 1st quarter valued at $41,000. Finally, Golden State Wealth Management LLC lifted its holdings in shares of Norfolk Southern by 883.3% during the 1st quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator's stock valued at $42,000 after purchasing an additional 159 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have recently commented on NSC shares. TD Cowen upgraded Norfolk Southern from a "hold" rating to a "buy" rating and increased their price objective for the company from $263.00 to $323.00 in a report on Monday, July 21st. Bank of America increased their price objective on Norfolk Southern from $290.00 to $305.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Jefferies Financial Group reiterated a "hold" rating and set a $300.00 price objective on shares of Norfolk Southern in a report on Friday, July 25th. Barclays increased their price objective on Norfolk Southern from $300.00 to $320.00 and gave the company an "overweight" rating in a report on Thursday, October 2nd. Finally, Citigroup upped their target price on Norfolk Southern from $288.00 to $305.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Eight analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat, Norfolk Southern has an average rating of "Hold" and a consensus price target of $293.25.

Norfolk Southern Price Performance

Shares of NSC opened at $296.70 on Thursday. The business's 50-day moving average is $283.60 and its two-hundred day moving average is $257.12. The company has a market capitalization of $66.64 billion, a P/E ratio of 20.05, a P/E/G ratio of 2.65 and a beta of 1.33. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.71 and a current ratio of 0.79. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $302.24.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings results 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. The company 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. Research analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Friday, August 1st were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, August 1st. Norfolk Southern's dividend payout ratio (DPR) is currently 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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