Pallas Capital Advisors LLC Acquires 2,052 Shares of Norfolk Southern Corporation $NSC

Key Points

• Pallas Capital Advisors LLC increased its ownership in Norfolk Southern Corporation by 117.9%, now holding 3,793 shares valued at approximately $971,000.
• Norfolk Southern reported a quarterly EPS of $3.29, surpassing expectations, with revenue reaching $3.11 billion.
• The company recently declared a quarterly dividend of $1.35, leading to a 1.9% annualized dividend yield for shareholders.

Pallas Capital Advisors LLC grew its stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 117.9% in the second quarter, according to its most recent filing with the SEC. The fund owned 3,793 shares of the railroad operator's stock after acquiring an additional 2,052 shares during the period. Pallas Capital Advisors LLC's holdings in Norfolk Southern were worth $971,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently modified their holdings of NSC. Brighton Jones LLC lifted its position in shares of Norfolk Southern by 4.9% during the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator's stock valued at $400,000 after acquiring an additional 79 shares during the last quarter. Vident Advisory LLC boosted its position in shares of Norfolk Southern by 18.9% in the fourth quarter. Vident Advisory LLC now owns 3,916 shares of the railroad operator's stock worth $919,000 after buying an additional 622 shares during the period. Woodline Partners LP purchased a new position in shares of Norfolk Southern during the fourth quarter valued at $1,515,000. Focus Partners Advisor Solutions LLC raised its position in Norfolk Southern by 27.3% during the fourth quarter. Focus Partners Advisor Solutions LLC now owns 1,531 shares of the railroad operator's stock valued at $359,000 after buying an additional 328 shares during the period. Finally, Vise Technologies Inc. acquired a new position in Norfolk Southern during the fourth quarter valued at $311,000. Institutional investors and hedge funds own 75.10% of the company's stock.

Norfolk Southern Stock Up 0.4%

NYSE NSC traded up $1.26 on Friday, reaching $283.94. The stock had a trading volume of 2,712,265 shares, compared to its average volume of 1,921,810. The business has a 50 day moving average price of $277.90 and a 200 day moving average price of $251.66. 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 Corporation has a 1 year low of $201.63 and a 1 year high of $291.69. The company has a market capitalization of $63.78 billion, a price-to-earnings ratio of 19.19, a P/E/G ratio of 2.52 and a beta of 1.29.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its earnings results on Tuesday, July 29th. The railroad operator reported $3.29 EPS for the quarter, beating 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 firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.10 billion. Norfolk Southern has set its FY 2025 guidance at EPS. On average, analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Friday, August 1st were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, August 1st. Norfolk Southern's dividend payout ratio is presently 36.49%.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Sanford C. Bernstein raised their price objective on Norfolk Southern from $295.00 to $305.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. The Goldman Sachs Group reissued a "neutral" rating and issued a $278.00 price target on shares of Norfolk Southern in a research report on Monday, June 2nd. Barclays boosted their price objective on shares of Norfolk Southern from $290.00 to $300.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Citigroup upped their price objective on shares of Norfolk Southern from $288.00 to $305.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Finally, TD Cowen upgraded shares of Norfolk Southern from a "hold" rating to a "buy" rating and increased their target price for the stock from $263.00 to $323.00 in a research report on Monday, July 21st. Seven 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 company presently has a consensus rating of "Hold" and a consensus target price of $286.25.

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.