Ameriprise Financial Inc. Has $122.67 Million Stock Position in Norfolk Southern Corporation $NSC

Key Points

• Ameriprise Financial Inc. increased its stake in Norfolk Southern Corporation by 12.9% in the 1st quarter, now owning 517,970 shares valued at approximately $122.67 million.
• Norfolk Southern reported $3.29 EPS for the recent quarter, surpassing analyst estimates and showing robust revenue growth.
• The company announced a quarterly dividend of $1.35 per share, resulting in an annualized yield of 1.9% with a payout ratio of 36.49%.

Ameriprise Financial Inc. raised its stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 12.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 517,970 shares of the railroad operator's stock after buying an additional 59,098 shares during the quarter. Ameriprise Financial Inc. owned about 0.23% of Norfolk Southern worth $122,674,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. Golden State Wealth Management LLC lifted its stake in shares of Norfolk Southern by 883.3% in the first quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator's stock worth $42,000 after acquiring an additional 159 shares in the last quarter. Dynamic Advisor Solutions LLC lifted its position in Norfolk Southern by 1.9% in the first quarter. Dynamic Advisor Solutions LLC now owns 3,571 shares of the railroad operator's stock worth $846,000 after purchasing an additional 65 shares during the period. Wealth Enhancement Advisory Services LLC boosted its stake in shares of Norfolk Southern by 4.1% during the 1st quarter. Wealth Enhancement Advisory Services LLC now owns 71,463 shares of the railroad operator's stock worth $16,925,000 after acquiring an additional 2,782 shares in the last quarter. GAMMA Investing LLC boosted its stake in shares of Norfolk Southern by 8.3% during the 1st quarter. GAMMA Investing LLC now owns 4,179 shares of the railroad operator's stock worth $990,000 after acquiring an additional 321 shares in the last quarter. Finally, Brevan Howard Capital Management LP lifted its holdings in shares of Norfolk Southern by 472.3% in the fourth 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. Institutional investors and hedge funds own 75.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several research firms have commented on NSC. Benchmark downgraded shares of Norfolk Southern from a "buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Sanford C. Bernstein raised their price target on shares of Norfolk Southern from $295.00 to $305.00 and gave the stock an "outperform" rating in a research note on Monday, July 21st. Bank of America lifted their target price on shares of Norfolk Southern from $290.00 to $305.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Susquehanna reiterated a "neutral" rating and issued a $260.00 price objective (up from $250.00) on shares of Norfolk Southern in a research report on Tuesday, June 24th. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $288.00 price objective (up from $282.00) on shares of Norfolk Southern in a research 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. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $285.15.

Norfolk Southern Stock Performance

Shares of NSC stock traded up $5.76 on Thursday, reaching $278.11. The stock had a trading volume of 3,031,661 shares, compared to its average volume of 1,608,989. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $291.69. The firm has a market capitalization of $62.47 billion, a price-to-earnings ratio of 18.79, a P/E/G ratio of 2.45 and a beta of 1.31. The firm's 50-day moving average is $271.56 and its two-hundred day moving average is $248.26. The company has a quick ratio of 0.71, a current ratio of 0.79 and a debt-to-equity ratio of 1.11.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share (EPS) 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 firm had revenue of $3.11 billion for 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 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Investors 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 yield of 1.9%. The ex-dividend date of this dividend was Friday, August 1st. Norfolk Southern's dividend payout ratio (DPR) is currently 36.49%.

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.