Mirae Asset Global Investments Co. Ltd. Acquires 2,331 Shares of Norfolk Southern Corporation $NSC

Key Points

• Mirae Asset Global Investments has increased its stake in Norfolk Southern Corporation by 10.1%, acquiring an additional 2,331 shares, bringing its total holdings to 25,506 shares valued at approximately $6.5 million.
• In recent earnings, Norfolk Southern reported $3.29 EPS, surpassing analysts' expectations and generating revenue of $3.11 billion, reflecting strong performance in the rail transportation sector.
• Brokerages have recently raised their price targets on Norfolk Southern, with an average target of $292.50, indicating a bullish outlook despite most analysts rating the stock as a "Hold."

Mirae Asset Global Investments Co. Ltd. grew its stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 10.1% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,506 shares of the railroad operator's stock after acquiring an additional 2,331 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Norfolk Southern were worth $6,529,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of NSC. Vanguard Group Inc. boosted 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 valued at $4,813,114,000 after purchasing an additional 232,195 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its position in shares of Norfolk Southern by 31.5% during the first 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 during the last quarter. Boston Partners boosted its position in shares of Norfolk Southern by 3.4% during the first quarter. Boston Partners now owns 4,159,070 shares of the railroad operator's stock valued at $983,161,000 after buying an additional 138,678 shares during the last quarter. EdgePoint Investment Group Inc. increased its holdings in Norfolk Southern by 0.7% in the 1st quarter. EdgePoint Investment Group Inc. now owns 3,998,335 shares of the railroad operator's stock worth $947,006,000 after buying an additional 29,753 shares in the last quarter. Finally, American Century Companies Inc. raised its position in Norfolk Southern by 6.4% in 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 during the last quarter. 75.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of brokerages have recently commented on NSC. Robert W. Baird lifted their price target on shares of Norfolk Southern from $255.00 to $300.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Barclays lifted their target price on shares of Norfolk Southern from $300.00 to $320.00 and gave the stock an "overweight" rating in a research report on Thursday. Evercore ISI increased their price target on Norfolk Southern from $289.00 to $298.00 in a report on Thursday, September 25th. Susquehanna raised their price target on Norfolk Southern from $284.00 to $295.00 and gave the stock a "neutral" rating in a research note on Thursday, September 25th. Finally, Baird R W raised Norfolk Southern to a "hold" rating in a report on Tuesday, July 1st. Eight equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $292.50.

Norfolk Southern Stock Up 0.6%

NSC opened at $300.02 on Monday. The stock has a market cap of $67.39 billion, a price-to-earnings ratio of 20.27, a price-to-earnings-growth ratio of 2.69 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. The firm's fifty day moving average is $282.63 and its 200 day moving average is $256.10. 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 posted its quarterly 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 for the quarter, compared to analysts' expectations 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. On average, sell-side analysts forecast 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 given a dividend of $1.35 per share. The ex-dividend date was Friday, August 1st. This represents a $5.40 annualized dividend and a dividend yield of 1.8%. Norfolk Southern's dividend payout ratio (DPR) is presently 36.49%.

Norfolk Southern 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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