Pioneer Wealth Management Group Invests $385,000 in Norfolk Southern Corporation $NSC

Key Points

• Pioneer Wealth Management Group acquired 1,503 shares of Norfolk Southern Corporation (NSC), valued at approximately $385,000, during the second quarter.
• Norfolk Southern's stock recently saw a target price increase from Citigroup and UBS Group, suggesting a positive outlook with a consensus rating of "Hold" among analysts.
• The company declared a quarterly dividend of $1.35 per share, reflecting an annualized dividend yield of 1.9% and a payout ratio of 36.49%.

Pioneer Wealth Management Group acquired a new stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 1,503 shares of the railroad operator's stock, valued at approximately $385,000.

A number of other hedge funds also recently added to or reduced their stakes in NSC. Golden State Wealth Management LLC boosted its holdings in Norfolk Southern by 883.3% in the first quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator's stock valued at $42,000 after purchasing an additional 159 shares during the period. Dynamic Advisor Solutions LLC grew its position in shares of Norfolk Southern by 1.9% during the first quarter. Dynamic Advisor Solutions LLC now owns 3,571 shares of the railroad operator's stock worth $846,000 after buying an additional 65 shares in the last quarter. Wealth Enhancement Advisory Services LLC increased its stake in shares of Norfolk Southern by 4.1% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 71,463 shares of the railroad operator's stock worth $16,925,000 after buying an additional 2,782 shares during the period. GAMMA Investing LLC raised its holdings in Norfolk Southern by 8.3% in the first quarter. GAMMA Investing LLC now owns 4,179 shares of the railroad operator's stock valued at $990,000 after acquiring an additional 321 shares in the last quarter. Finally, Focus Partners Wealth lifted its stake in Norfolk Southern by 2.8% in the first quarter. Focus Partners Wealth now owns 115,417 shares of the railroad operator's stock worth $27,337,000 after acquiring an additional 3,163 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on NSC shares. TD Cowen raised shares of Norfolk Southern from a "hold" rating to a "buy" rating and increased their price objective for the company from $263.00 to $323.00 in a research report on Monday, July 21st. Robert W. Baird raised their price target on Norfolk Southern from $255.00 to $300.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Baird R W upgraded Norfolk Southern to a "hold" rating in a report on Tuesday, July 1st. Sanford C. Bernstein raised their target price on Norfolk Southern from $295.00 to $305.00 and gave the stock an "outperform" rating in a research report on Monday, July 21st. Finally, Bank of America upped their price target on Norfolk Southern from $290.00 to $305.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $286.25.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock traded up $6.89 during trading on Monday, reaching $290.60. The company's stock had a trading volume of 2,917,612 shares, compared to its average volume of 1,621,984. The firm has a market cap of $65.27 billion, a PE ratio of 19.64, a P/E/G ratio of 2.52 and a beta of 1.29. The company has a 50-day moving average price of $277.90 and a two-hundred day moving average price of $251.75. 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 fifty-two week low of $201.63 and a fifty-two week high of $294.78.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share (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 business had revenue of $3.11 billion for the quarter, compared to analyst estimates 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 year.

Norfolk Southern Dividend Announcement

The company also recently announced 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 1.9%. Norfolk Southern's payout ratio is presently 36.49%.

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.