MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 201,033 Shares of Norfolk Southern Corporation $NSC

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in Norfolk Southern Corporation by 20.6%, acquiring an additional 201,033 shares, bringing its total holding to 1,175,226 shares valued at approximately $278.3 million.
• Norfolk Southern recently reported $3.29 EPS for the quarter, surpassing analyst expectations, with revenues reaching $3.11 billion.
• The company declared a quarterly dividend of $1.35, representing a yield of 1.9%, with a payout ratio of 36.49%.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 20.6% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,175,226 shares of the railroad operator's stock after buying an additional 201,033 shares during the quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned 0.52% of Norfolk Southern worth $278,345,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of NSC. WPG Advisers LLC bought a new stake in shares of Norfolk Southern in the first quarter worth about $27,000. Fourth Dimension Wealth LLC bought a new stake in shares of Norfolk Southern in the fourth quarter worth about $28,000. Putney Financial Group LLC bought a new stake in shares of Norfolk Southern in the fourth quarter worth about $30,000. Greenline Partners LLC bought a new stake in shares of Norfolk Southern in the fourth quarter worth about $31,000. Finally, HWG Holdings LP bought a new stake in shares of Norfolk Southern in the first quarter worth about $35,000. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Stock Down 0.8%

NYSE NSC traded down $2.23 during mid-day trading on Friday, reaching $277.53. The stock had a trading volume of 1,302,006 shares, compared to its average volume of 1,897,278. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $291.69. The stock has a market cap of $62.34 billion, a PE ratio of 18.75, a price-to-earnings-growth ratio of 2.46 and a beta of 1.29. The company has a fifty day moving average price of $274.85 and a 200 day moving average price of $249.36. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.79 and a quick ratio of 0.71.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share for the quarter, topping analysts' consensus estimates of $3.24 by $0.05. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. The company had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.10 billion. Norfolk Southern has set its FY 2025 guidance at EPS. On average, research analysts expect that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

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

Analysts Set New Price Targets

Several analysts recently issued reports on NSC shares. Royal Bank Of Canada cut Norfolk Southern from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, July 29th. UBS Group raised their target price on Norfolk Southern from $275.00 to $279.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. Barclays raised their target price on Norfolk Southern from $290.00 to $300.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. Bank of America raised their target price on Norfolk Southern from $290.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and issued a $288.00 price objective (up from $282.00) on shares of Norfolk Southern in a report on Wednesday, July 30th. Seven analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company's stock. Based on data from MarketBeat.com, Norfolk Southern currently has an average rating of "Hold" and a consensus target price 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.