Zimmer Partners LP Has $12.58 Million Holdings in Norfolk Southern Corporation $NSC

Key Points

• Zimmer Partners LP reduced its stake in Norfolk Southern Corporation by 18.3% in the 1st quarter, now holding 53,100 shares valued at $12.6 million.
• Norfolk Southern recently reported earnings of $3.29 per share, exceeding analysts' expectations and generating $3.11 billion in revenue for the quarter.
• The company announced a quarterly dividend of $1.35 per share, with an annualized yield of 2.0% and a payout ratio of 36.49%.

Zimmer Partners LP trimmed its stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 18.3% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 53,100 shares of the railroad operator's stock after selling 11,900 shares during the period. Zimmer Partners LP's holdings in Norfolk Southern were worth $12,577,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NSC. Price T Rowe Associates Inc. MD raised its position in 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 period. GAMMA Investing LLC increased its position in Norfolk Southern by 25,555.7% in the 1st quarter. GAMMA Investing LLC now owns 989,796 shares of the railroad operator's stock worth $234,433,000 after purchasing an additional 985,938 shares during the last quarter. Adage Capital Partners GP L.L.C. increased its position in Norfolk Southern by 341.9% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 789,950 shares of the railroad operator's stock worth $187,100,000 after purchasing an additional 611,198 shares during the last quarter. Nuveen LLC acquired a new position in Norfolk Southern in the 1st quarter worth about $122,256,000. Finally, Phoenix Financial Ltd. acquired a new position in Norfolk Southern in the 1st quarter worth about $110,209,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

NYSE:NSC traded up $0.90 during mid-day trading on Friday, hitting $274.90. 2,243,787 shares of the company's stock traded hands, compared to its average volume of 1,923,360. The firm has a 50 day moving average of $276.13 and a two-hundred day moving average of $250.29. 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 $61.75 billion, a price-to-earnings ratio of 18.57, a price-to-earnings-growth ratio of 2.43 and a beta of 1.29. The company has a current ratio of 0.79, a quick ratio of 0.71 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 for the quarter, beating the consensus estimate of $3.24 by $0.05. Norfolk Southern had a return on equity of 19.35% and a net margin of 27.51%.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, equities analysts forecast that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Friday, August 1st were given a $1.35 dividend. The ex-dividend date was Friday, August 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.0%. Norfolk Southern's dividend payout ratio (DPR) is currently 36.49%.

Analyst Ratings Changes

Several brokerages have weighed in on NSC. Baird R W raised Norfolk Southern to a "hold" rating in a research report on Tuesday, July 1st. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $278.00 target price on shares of Norfolk Southern in a research report on Monday, June 2nd. Barclays upped their price target 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 upped their price target for the stock from $263.00 to $323.00 in a research note on Monday, July 21st. Finally, JPMorgan Chase & Co. reiterated a "neutral" rating and set a $288.00 price target (up previously from $282.00) on shares of Norfolk Southern in a research note on Wednesday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $285.15.

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.