Polar Asset Management Partners Inc. Grows Holdings in Norfolk Southern Corporation $NSC

Key Points

• Polar Asset Management Partners Inc. significantly increased its stake in Norfolk Southern Corporation by 148.2%, now holding 6,452 shares worth approximately $1.53 million.
• Several institutional investors have expanded their positions in Norfolk Southern, with Price T Rowe Associates and GAMMA Investing showing remarkable increases of 31.5% and 25,555.7% respectively in the first quarter.
• Analysts have raised their target prices for Norfolk Southern, with Bank of America and Citigroup both setting new targets at $305, indicating a strong outlook for the stock.

Polar Asset Management Partners Inc. grew its holdings in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 148.2% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 6,452 shares of the railroad operator's stock after buying an additional 3,852 shares during the quarter. Polar Asset Management Partners Inc.'s holdings in Norfolk Southern were worth $1,528,000 at the end of the most recent reporting period.

Several other hedge funds have also recently made changes to their positions in the business. Vanguard Group Inc. raised its position in shares of Norfolk Southern by 1.2% during the 1st quarter. Vanguard Group Inc. now owns 20,321,359 shares of the railroad operator's stock valued at $4,813,114,000 after buying an additional 232,195 shares in the last quarter. Price T Rowe Associates Inc. MD raised its position in shares of Norfolk Southern by 31.5% during the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,319,010 shares of the railroad operator's stock valued at $2,680,910,000 after buying an additional 2,710,930 shares in the last quarter. Boston Partners raised its position in shares of Norfolk Southern by 3.4% during the 1st quarter. Boston Partners now owns 4,159,070 shares of the railroad operator's stock valued at $983,161,000 after buying an additional 138,678 shares in the last quarter. EdgePoint Investment Group Inc. raised its position in shares of Norfolk Southern by 0.7% during the 1st quarter. EdgePoint Investment Group Inc. now owns 3,998,335 shares of the railroad operator's stock valued at $947,006,000 after buying an additional 29,753 shares in the last quarter. Finally, American Century Companies Inc. raised its position in shares of Norfolk Southern by 6.4% during the 1st quarter. American Century Companies Inc. now owns 3,128,102 shares of the railroad operator's stock valued at $740,891,000 after buying an additional 189,076 shares in the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Stock Up 0.5%

Shares of NYSE NSC traded up $1.45 during midday trading on Thursday, reaching $273.81. 1,067,978 shares of the company's stock traded hands, compared to its average volume of 1,604,631. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $291.69. The stock's 50 day simple moving average is $275.66 and its 200-day simple moving average is $249.88. The company has a quick ratio of 0.71, a current ratio of 0.79 and a debt-to-equity ratio of 1.11. The company has a market cap of $61.50 billion, a price-to-earnings ratio of 18.50, a P/E/G ratio of 2.42 and a beta of 1.29.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted 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 net margin of 27.51% and a return on equity of 19.35%. The company 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. On average, analysts predict 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. Investors of record on Friday, August 1st were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, August 1st. Norfolk Southern's dividend payout ratio (DPR) is 36.49%.

Analysts Set New Price Targets

Several brokerages recently commented on NSC. The Goldman Sachs Group reiterated a "neutral" rating and set a $278.00 price target on shares of Norfolk Southern in a report on Monday, June 2nd. Royal Bank Of Canada downgraded shares of Norfolk Southern from a "moderate buy" rating to a "hold" rating in a report on Tuesday, July 29th. Robert W. Baird upped their price target on shares of Norfolk Southern from $255.00 to $300.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. Benchmark downgraded shares of Norfolk Southern from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. restated a "neutral" rating and issued a $288.00 target price (up from $282.00) on shares of Norfolk Southern in a research note on Wednesday, July 30th. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat.com, Norfolk Southern currently has a consensus rating of "Hold" and an average price target of $285.15.

Norfolk Southern 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.