Baird Financial Group Inc. Acquires 3,704 Shares of Norfolk Southern Corporation $NSC

Key Points

• Baird Financial Group Inc. increased its holdings in Norfolk Southern Corporation by 2.8%, now owning 138,370 shares valued at approximately $32.77 million.
• Analysts have raised price targets for Norfolk Southern, with Citigroup and Bank of America both setting new targets at $305, while the stock has an average target of $285.15.
• Norfolk Southern's latest quarterly earnings showed an EPS of $3.29, surpassing estimates, and the company announced a quarterly dividend of $1.35.

Baird Financial Group Inc. boosted its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 2.8% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 138,370 shares of the railroad operator's stock after acquiring an additional 3,704 shares during the quarter. Baird Financial Group Inc. owned 0.06% of Norfolk Southern worth $32,773,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in NSC. Vident Advisory LLC boosted its position in Norfolk Southern by 51.1% in the first quarter. Vident Advisory LLC now owns 5,916 shares of the railroad operator's stock valued at $1,401,000 after buying an additional 2,000 shares in the last quarter. Evergreen Capital Management LLC boosted its position in Norfolk Southern by 8.1% in the first quarter. Evergreen Capital Management LLC now owns 1,742 shares of the railroad operator's stock valued at $413,000 after buying an additional 131 shares in the last quarter. Canada Pension Plan Investment Board boosted its position in Norfolk Southern by 70.1% in the first quarter. Canada Pension Plan Investment Board now owns 206,043 shares of the railroad operator's stock valued at $48,801,000 after buying an additional 84,920 shares in the last quarter. WPG Advisers LLC acquired a new stake in Norfolk Southern in the first quarter valued at approximately $27,000. Finally, State of Wyoming acquired a new stake in Norfolk Southern in the first quarter valued at approximately $186,000. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Stock Up 0.6%

NSC traded up $1.69 during midday trading on Thursday, hitting $279.88. The company had a trading volume of 910,415 shares, compared to its average volume of 1,607,927. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $291.69. The company has a quick ratio of 0.71, a current ratio of 0.79 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $62.87 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 2.48 and a beta of 1.29. The stock's 50 day moving average price is $273.93 and its 200 day moving average price is $249.06.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share for the quarter, beating the consensus estimate 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 during the quarter, compared to the consensus estimate of $3.10 billion. Norfolk Southern has set its FY 2025 guidance at EPS. On average, research analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced 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 of this dividend was Friday, August 1st. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. Norfolk Southern's payout ratio is presently 36.49%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the stock. Robert W. Baird raised their target price on shares of Norfolk Southern from $255.00 to $300.00 and gave the company a "neutral" rating in a research report on Tuesday, July 22nd. Benchmark lowered shares of Norfolk Southern from a "buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Jefferies Financial Group restated a "hold" rating and issued a $300.00 target price on shares of Norfolk Southern in a research report on Friday, July 25th. Susquehanna restated a "neutral" rating and issued a $260.00 target price (up previously from $250.00) on shares of Norfolk Southern in a research report on Tuesday, June 24th. Finally, TD Cowen upgraded shares of Norfolk Southern from a "hold" rating to a "buy" rating and lifted their price target for the stock from $263.00 to $323.00 in a report on Monday, July 21st. Seven research 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, the company has a consensus rating of "Hold" and an average 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.