Park Avenue Securities LLC Invests $1.67 Million in Norfolk Southern Corporation $NSC

Key Points

• Park Avenue Securities LLC has invested approximately $1.67 million in Norfolk Southern Corporation by purchasing 6,538 shares in the second quarter.
• The stock has received several analyst upgrades, with a majority rating it as a "Hold" and a target price averaging around $288.00.
• Norfolk Southern recently announced a quarterly dividend of $1.35 per share, yielding 1.8%, with a payout ratio of 36.49%.

Park Avenue Securities LLC purchased a new position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor purchased 6,538 shares of the railroad operator's stock, valued at approximately $1,673,000.

A number of other institutional investors and hedge funds also recently made changes to their positions in NSC. WPG Advisers LLC bought a new stake in shares of Norfolk Southern during the 1st quarter worth approximately $27,000. HWG Holdings LP acquired a new position in Norfolk Southern during the 1st quarter worth approximately $35,000. Physician Wealth Advisors Inc. increased its position in Norfolk Southern by 129.2% during the 1st quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock worth $35,000 after purchasing an additional 84 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new position in Norfolk Southern during the 1st quarter worth approximately $41,000. Finally, Golden State Wealth Management LLC increased its position in Norfolk Southern by 883.3% during the 1st quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator's stock worth $42,000 after purchasing an additional 159 shares in the last quarter. Institutional investors own 75.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on the stock. Robert W. Baird upped their price objective on shares of Norfolk Southern from $255.00 to $300.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Jefferies Financial Group restated a "hold" rating and issued a $300.00 price target on shares of Norfolk Southern in a research report on Friday, July 25th. Barclays upped their price target 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. Benchmark cut shares of Norfolk Southern from a "buy" rating to a "hold" rating in a research report on Wednesday, July 30th. Finally, Susquehanna upped their price objective on shares of Norfolk Southern from $284.00 to $295.00 and gave the company a "neutral" rating in a research note on Thursday. Seven equities research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $288.00.

Norfolk Southern Trading Up 0.4%

NSC stock opened at $294.49 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.71 and a current ratio of 0.79. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $296.38. The company's 50 day moving average price is $280.26 and its two-hundred day moving average price is $253.02. The company has a market capitalization of $66.15 billion, a PE ratio of 19.90, a price-to-earnings-growth ratio of 2.60 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, topping the consensus estimate of $3.24 by $0.05. The company had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.10 billion. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. Norfolk Southern has set its FY 2025 guidance at EPS. As a group, analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed 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 dividend on an annualized basis and a 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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.