Norfolk Southern Corporation $NSC Shares Sold by State of Alaska Department of Revenue

Key Points

• The State of Alaska Department of Revenue reduced its holdings in Norfolk Southern Corporation (NSC) by 4.5%, now owning 25,319 shares worth approximately $6.48 million.
• Norfolk Southern's stock recently received mixed reviews from analysts, with price targets ranging from $290 to $323, while maintaining a consensus rating of "Hold".
• The company announced a quarterly dividend of $1.35 per share, representing a 1.8% yield, with a payout ratio of 36.49%.

State of Alaska Department of Revenue lowered its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 4.5% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 25,319 shares of the railroad operator's stock after selling 1,200 shares during the quarter. State of Alaska Department of Revenue's holdings in Norfolk Southern were worth $6,480,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. WPG Advisers LLC acquired a new position in Norfolk Southern in the first quarter valued at $27,000. HWG Holdings LP acquired a new position in Norfolk Southern in the first quarter valued at $35,000. Physician Wealth Advisors Inc. boosted its holdings in Norfolk Southern by 129.2% in the first quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock valued at $35,000 after acquiring an additional 84 shares during the last quarter. Financial Gravity Asset Management Inc. acquired a new position in Norfolk Southern in the first quarter valued at $41,000. Finally, Golden State Wealth Management LLC boosted its holdings in Norfolk Southern by 883.3% in the first quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator's stock valued at $42,000 after acquiring an additional 159 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently weighed in on NSC shares. Royal Bank Of Canada cut Norfolk Southern from a "moderate buy" rating to a "hold" rating in a report on Tuesday, July 29th. Barclays boosted their price objective on Norfolk Southern from $290.00 to $300.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. TD Cowen upgraded Norfolk Southern from a "hold" rating to a "buy" rating and boosted their price objective for the stock from $263.00 to $323.00 in a research note on Monday, July 21st. Robert W. Baird boosted their price objective on Norfolk Southern from $255.00 to $300.00 and gave the stock a "neutral" rating in a research note on Tuesday, July 22nd. Finally, Susquehanna boosted their price objective on Norfolk Southern from $284.00 to $295.00 and gave the stock a "neutral" rating in a research note on Thursday. Seven research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus price target of $288.45.

Norfolk Southern Stock Up 1.0%

Shares of NYSE NSC opened at $297.61 on Monday. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $298.42. The firm has a market cap of $66.85 billion, a price-to-earnings ratio of 20.11, a PEG ratio of 2.64 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 stock's 50-day simple moving average is $280.68 and its 200-day simple moving average is $253.81.

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 return on equity of 19.35% and a net margin of 27.51%.The business 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. As a group, equities analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

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. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date of this dividend was Friday, August 1st. Norfolk Southern's payout ratio is presently 36.49%.

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.

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