Perigon Wealth Management LLC Purchases 1,078 Shares of Norfolk Southern Corporation $NSC

Key Points

• Perigon Wealth Management LLC increased its holdings in Norfolk Southern Corporation by 7.6% during the 2nd quarter, acquiring an additional 1,078 shares, bringing its total ownership to 15,300 shares worth approximately $3.9 million.
• Norfolk Southern recently declared a quarterly dividend of $1.35 per share, with an annualized dividend yield of 1.8% and a payout ratio of 36.49%.
• Analyst ratings for Norfolk Southern suggest a mixed outlook, with seven analysts giving a Buy rating and fourteen issuing Hold ratings, while the average price target is set at $288.00.

Perigon Wealth Management LLC grew its position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 7.6% during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,300 shares of the railroad operator's stock after buying an additional 1,078 shares during the quarter. Perigon Wealth Management LLC's holdings in Norfolk Southern were worth $3,916,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also recently modified their holdings of NSC. WPG Advisers LLC bought a new position in shares of Norfolk Southern during the 1st quarter worth approximately $27,000. HWG Holdings LP bought a new stake in shares of Norfolk Southern in the 1st quarter worth approximately $35,000. Physician Wealth Advisors Inc. raised its holdings in shares of Norfolk Southern by 129.2% in 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 during the period. Financial Gravity Asset Management Inc. bought a new stake in shares of Norfolk Southern in the 1st quarter worth approximately $41,000. Finally, Golden State Wealth Management LLC raised its holdings in shares of Norfolk Southern by 883.3% in 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 during the period. Institutional investors own 75.10% of the company's stock.

Analyst Upgrades and Downgrades

NSC has been the topic of a number of research reports. Evercore ISI reaffirmed an "in-line" rating and issued a $289.00 price target (up previously from $279.00) on shares of Norfolk Southern in a report on Wednesday, July 30th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $278.00 price target on shares of Norfolk Southern in a report on Monday, June 2nd. Susquehanna lifted their price target on shares of Norfolk Southern from $284.00 to $295.00 and gave the stock a "neutral" rating in a report on Thursday. JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $288.00 price target (up previously from $282.00) on shares of Norfolk Southern in a report on Wednesday, July 30th. Finally, Sanford C. Bernstein lifted their price objective on shares of Norfolk Southern from $295.00 to $305.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. Seven equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $288.00.

Norfolk Southern Trading Up 0.4%

Shares of NSC stock opened at $294.49 on Friday. The company's fifty day simple moving average is $280.26 and its two-hundred day simple moving average is $253.02. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.79 and a quick ratio of 0.71. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $296.38. The stock has a market capitalization of $66.15 billion, a price-to-earnings ratio of 19.90, a PEG ratio of 2.60 and a beta of 1.29.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share for the quarter, topping the consensus estimate of $3.24 by $0.05. The firm had revenue of $3.11 billion for the quarter, compared to analysts' expectations 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 anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Friday, August 1st were issued a $1.35 dividend. The ex-dividend date of this dividend was Friday, August 1st. This represents a $5.40 annualized dividend and a dividend yield of 1.8%. Norfolk Southern's dividend 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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