Aberdeen Group plc Purchases 117,276 Shares of Norfolk Southern Corporation $NSC

Key Points

• Aberdeen Group plc increased its stake in Norfolk Southern by 30.8%, acquiring an additional 117,276 shares, bringing its ownership to approximately 0.22% valued at $116.68 million.
• Norfolk Southern reported earnings of $3.29 per share for the last quarter, exceeding analyst expectations and achieving a net margin of 27.51% and a revenue of $3.11 billion.
• The company announced a quarterly dividend of $1.35 per share, representing an annual yield of 1.9%, with a payout ratio of 36.49%.

Aberdeen Group plc raised its position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 30.8% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 497,848 shares of the railroad operator's stock after purchasing an additional 117,276 shares during the quarter. Aberdeen Group plc owned 0.22% of Norfolk Southern worth $116,678,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. GAMMA Investing LLC raised its holdings 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 acquiring an additional 985,938 shares during the last quarter. Price T Rowe Associates Inc. MD boosted its stake in Norfolk Southern by 11.9% during the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,608,080 shares of the railroad operator's stock valued at $2,020,318,000 after purchasing an additional 918,559 shares during the last quarter. Nuveen LLC bought a new stake in shares of Norfolk Southern in the 1st quarter worth $122,256,000. The Manufacturers Life Insurance Company raised its stake in shares of Norfolk Southern by 293.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 671,680 shares of the railroad operator's stock worth $157,643,000 after purchasing an additional 501,053 shares during the last quarter. Finally, Phoenix Financial Ltd. purchased a new position in shares of Norfolk Southern in the first quarter worth $110,209,000. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Stock Performance

Norfolk Southern stock traded up $0.2190 during trading on Wednesday, reaching $285.7490. The company had a trading volume of 1,742,914 shares, compared to its average volume of 2,990,512. The firm has a market capitalization of $64.18 billion, a price-to-earnings ratio of 19.31, a price-to-earnings-growth ratio of 2.53 and a beta of 1.31. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.11. The firm's 50-day simple moving average is $268.76 and its 200 day simple moving average is $247.31. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $288.64.

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

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Friday, August 1st will be paid a dividend of $1.35 per share. The ex-dividend date is Friday, August 1st. This represents a $5.40 dividend on an annualized basis and a yield of 1.9%. Norfolk Southern's dividend payout ratio (DPR) is presently 36.49%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Bank of America increased their price objective on Norfolk Southern from $290.00 to $305.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Royal Bank Of Canada cut shares of Norfolk Southern from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, July 29th. Jefferies Financial Group reiterated a "hold" rating and issued a $300.00 price target on shares of Norfolk Southern in a research note on Friday, July 25th. TD Cowen raised shares of Norfolk Southern from a "hold" rating to a "buy" rating and boosted their price objective for the company from $263.00 to $323.00 in a report on Monday, July 21st. Finally, Susquehanna restated a "neutral" rating and set a $260.00 price objective (up previously from $250.00) on shares of Norfolk Southern in a research report on Tuesday, June 24th. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price 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.