Price T Rowe Associates Inc. MD Boosts Position in Norfolk Southern Corporation $NSC

Key Points

• Price T Rowe Associates Inc. MD increased its stake in Norfolk Southern Corporation by 31.5% in the first quarter, now owning over 11 million shares valued at approximately $2.68 billion.
• Norfolk Southern reported $3.29 EPS for the last quarter, exceeding expectations, with a net margin of 27.51% and revenue of $3.11 billion.
• The company has declared a quarterly dividend of $1.35, representing an annualized yield of 1.9%, with a payout ratio of 36.49%.

Price T Rowe Associates Inc. MD lifted its position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 31.5% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 11,319,010 shares of the railroad operator's stock after purchasing an additional 2,710,930 shares during the quarter. Price T Rowe Associates Inc. MD owned 5.02% of Norfolk Southern worth $2,680,910,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in NSC. Fourth Dimension Wealth LLC acquired a new stake in shares of Norfolk Southern during the 4th quarter worth approximately $28,000. Putney Financial Group LLC acquired a new stake in Norfolk Southern in the 4th quarter valued at $30,000. Greenline Partners LLC acquired a new stake in Norfolk Southern in the 4th quarter valued at $31,000. HWG Holdings LP acquired a new stake in Norfolk Southern in the 1st quarter valued at $35,000. Finally, Physician Wealth Advisors Inc. grew its stake in Norfolk Southern by 129.2% in the 1st quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock valued at $35,000 after acquiring an additional 84 shares during the period. Institutional investors and hedge funds own 75.10% of the company's stock.

Norfolk Southern Price Performance

NSC traded down $0.3760 on Friday, hitting $283.9740. 4,575,302 shares of the company's stock were exchanged, compared to its average volume of 2,818,490. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $291.69. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.11. The firm has a 50-day moving average price of $270.13 and a 200-day moving average price of $247.72. The stock has a market cap of $63.79 billion, a price-to-earnings ratio of 19.19, a P/E/G ratio of 2.52 and a beta of 1.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly 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. 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. As a group, equities analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders 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 1.9%. The ex-dividend date was Friday, August 1st. Norfolk Southern's payout ratio is currently 36.49%.

Analyst Ratings Changes

NSC has been the topic of a number of research analyst reports. TD Cowen raised shares of Norfolk Southern from a "hold" rating to a "buy" rating and lifted their price target for the company from $263.00 to $323.00 in a research note on Monday, July 21st. Barclays lifted their price target on shares of Norfolk Southern from $290.00 to $300.00 and gave the company an "overweight" rating in a research note on Wednesday, July 30th. Susquehanna reissued a "neutral" rating and issued a $260.00 price target (up previously from $250.00) on shares of Norfolk Southern in a research note on Tuesday, June 24th. Benchmark cut shares of Norfolk Southern from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Finally, Bank of America lifted their price target on shares of Norfolk Southern from $290.00 to $305.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Seven research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $285.15.

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.