Kovitz Investment Group Partners LLC Boosts Stake in Norfolk Southern Corporation $NSC

Key Points

• Kovitz Investment Group Partners LLC significantly increased its holdings in Norfolk Southern Corporation by 126.4% during the first quarter, now owning 73,036 shares worth approximately $17.30 million.
• Norfolk Southern Corporation recently reported earnings of $3.29 per share for the quarter, surpassing analysts' expectations of $3.24, alongside a quarterly revenue of $3.11 billion.
• The company declared a $1.35 quarterly dividend to be paid on August 20th, representing a 1.9% yield and a annualized payout of $5.40.

Kovitz Investment Group Partners LLC boosted its holdings in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 126.4% during the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 73,036 shares of the railroad operator's stock after purchasing an additional 40,778 shares during the period. Kovitz Investment Group Partners LLC's holdings in Norfolk Southern were worth $17,299,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Golden State Wealth Management LLC raised its holdings in shares of Norfolk Southern by 883.3% during the first quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator's stock valued at $42,000 after acquiring an additional 159 shares in the last quarter. Dynamic Advisor Solutions LLC increased its position in Norfolk Southern by 1.9% during the 1st quarter. Dynamic Advisor Solutions LLC now owns 3,571 shares of the railroad operator's stock valued at $846,000 after purchasing an additional 65 shares during the period. Wealth Enhancement Advisory Services LLC raised its holdings in Norfolk Southern by 4.1% in the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 71,463 shares of the railroad operator's stock worth $16,925,000 after purchasing an additional 2,782 shares in the last quarter. GAMMA Investing LLC lifted its position in shares of Norfolk Southern by 8.3% in the 1st quarter. GAMMA Investing LLC now owns 4,179 shares of the railroad operator's stock worth $990,000 after purchasing an additional 321 shares during the period. Finally, Brevan Howard Capital Management LP boosted its stake in shares of Norfolk Southern by 472.3% during the 4th quarter. Brevan Howard Capital Management LP now owns 43,054 shares of the railroad operator's stock valued at $10,105,000 after purchasing an additional 35,531 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company's stock.

Norfolk Southern Stock Up 0.1%

Shares of Norfolk Southern stock traded up $0.2190 during midday trading on Wednesday, hitting $285.7490. The company had a trading volume of 1,742,914 shares, compared to its average volume of 2,990,512. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $288.64. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.71 and a current ratio of 0.79. The stock has a market capitalization of $64.18 billion, a P/E ratio of 19.31, a P/E/G ratio of 2.53 and a beta of 1.31. The company has a 50 day moving average of $268.76 and a 200 day moving average of $247.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last released 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 return on equity of 19.35% and a net margin of 27.51%.The business had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.10 billion. Norfolk Southern has set its FY 2025 guidance at EPS. On average, equities analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Friday, August 1st will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend is Friday, August 1st. Norfolk Southern's dividend payout ratio is 36.49%.

Analyst Ratings Changes

A number of equities analysts recently issued reports on the stock. Baird R W raised shares of Norfolk Southern to a "hold" rating in a research note on Tuesday, July 1st. UBS Group upped their target price on Norfolk Southern from $275.00 to $279.00 and gave the stock a "buy" rating in a report on Friday, May 30th. TD Cowen raised Norfolk Southern from a "hold" rating to a "buy" rating and increased their target price for the stock from $263.00 to $323.00 in a research report on Monday, July 21st. Evercore ISI restated an "in-line" rating and set a $289.00 price target (up from $279.00) on shares of Norfolk Southern in a research report on Wednesday, July 30th. Finally, Benchmark cut Norfolk Southern from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat, the company presently has an average 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.