Norfolk Southern Corporation $NSC Shares Purchased by Quarry LP

Key Points

• Quarry LP significantly increased its stake in Norfolk Southern Corporation by 183.5% in Q1, owning 2,515 shares worth approximately $596,000.
• Norfolk Southern has received multiple analyst upgrades, with TD Cowen raising its target price from $263.00 to $323.00, shifting the stock rating from "hold" to "buy."
• The company recently declared a quarterly dividend of $1.35, providing a dividend yield of 1.9% based on its annualized dividend payout ratio of 36.49%.

Quarry LP boosted its holdings in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 183.5% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,515 shares of the railroad operator's stock after buying an additional 1,628 shares during the quarter. Quarry LP's holdings in Norfolk Southern were worth $596,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the business. CoreCap Advisors LLC boosted its position in shares of Norfolk Southern by 1.5% in the 4th quarter. CoreCap Advisors LLC now owns 3,097 shares of the railroad operator's stock worth $727,000 after purchasing an additional 45 shares in the last quarter. Canandaigua National Trust Co of Florida increased its position in Norfolk Southern by 4.9% during the 1st quarter. Canandaigua National Trust Co of Florida now owns 956 shares of the railroad operator's stock valued at $226,000 after buying an additional 45 shares in the last quarter. Capital Investment Advisory Services LLC increased its position in Norfolk Southern by 1.8% during the 1st quarter. Capital Investment Advisory Services LLC now owns 2,556 shares of the railroad operator's stock valued at $605,000 after buying an additional 45 shares in the last quarter. Certified Advisory Corp increased its position in Norfolk Southern by 1.0% during the 1st quarter. Certified Advisory Corp now owns 4,644 shares of the railroad operator's stock valued at $1,100,000 after buying an additional 47 shares in the last quarter. Finally, Malaga Cove Capital LLC increased its position in Norfolk Southern by 2.1% during the 4th quarter. Malaga Cove Capital LLC now owns 2,451 shares of the railroad operator's stock valued at $575,000 after buying an additional 50 shares in the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on NSC shares. Royal Bank Of Canada lowered Norfolk Southern from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, July 29th. Sanford C. Bernstein lifted their price objective 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. Robert W. Baird lifted their price objective 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. Evercore ISI reiterated an "in-line" rating and set a $289.00 price objective (up from $279.00) on shares of Norfolk Southern in a research note on Wednesday, July 30th. Finally, Bank of America lifted their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock a "buy" rating in a research note on Thursday, July 17th. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $285.15.

Norfolk Southern Price Performance

Shares of NSC stock traded up $1.69 on Thursday, reaching $279.88. 644,413 shares of the company were exchanged, compared to its average volume of 1,605,576. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $291.69. The company has a market cap of $62.87 billion, a price-to-earnings ratio of 18.91, a P/E/G ratio of 2.48 and a beta of 1.29. 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 business has a 50-day moving average price of $273.93 and a 200 day moving average price of $249.06.

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 (EPS) 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 company had revenue of $3.11 billion during the quarter, compared to analysts' expectations of $3.10 billion. Norfolk Southern has set its FY 2025 guidance at EPS. Equities research analysts forecast that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

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