Salvus Wealth Management LLC Buys 934 Shares of Norfolk Southern Corporation $NSC

Key Points

• Salvus Wealth Management LLC increased its stake in Norfolk Southern Corporation by 18.9%, now owning 5,863 shares valued at $1,501,000, according to its latest SEC filing.
• Norfolk Southern recently reported a quarterly earnings of $3.29 per share, exceeding the consensus estimate of $3.24, along with a revenue of $3.11 billion.
• The company declared a quarterly dividend of $1.35, totaling an annualized dividend of $5.40, representing a dividend yield of 1.9%.

Salvus Wealth Management LLC raised its stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 18.9% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 5,863 shares of the railroad operator's stock after acquiring an additional 934 shares during the period. Salvus Wealth Management LLC's holdings in Norfolk Southern were worth $1,501,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. Brighton Jones LLC grew its stake in shares of Norfolk Southern by 4.9% in the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator's stock valued at $400,000 after buying an additional 79 shares in the last quarter. Vident Advisory LLC raised its holdings in shares of Norfolk Southern by 18.9% during the fourth quarter. Vident Advisory LLC now owns 3,916 shares of the railroad operator's stock valued at $919,000 after purchasing an additional 622 shares during the period. Woodline Partners LP bought a new stake in Norfolk Southern during the 4th quarter valued at $1,515,000. Focus Partners Advisor Solutions LLC raised its holdings in shares of Norfolk Southern by 27.3% in the fourth quarter. Focus Partners Advisor Solutions LLC now owns 1,531 shares of the railroad operator's stock valued at $359,000 after purchasing an additional 328 shares during the last quarter. Finally, Vise Technologies Inc. purchased a new stake in Norfolk Southern during the fourth quarter worth about $311,000. 75.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

NSC has been the topic of several research analyst reports. Sanford C. Bernstein upped their price target on shares of Norfolk Southern from $295.00 to $305.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. 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. Susquehanna restated a "neutral" rating and issued a $260.00 price target (up from $250.00) on shares of Norfolk Southern in a research note on Tuesday, June 24th. Bank of America boosted their price objective on Norfolk Southern from $290.00 to $305.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Finally, Citigroup raised their target price on shares of Norfolk Southern from $288.00 to $305.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat, Norfolk Southern has a consensus rating of "Hold" and an average target price of $286.25.

Norfolk Southern Trading Up 2.4%

Norfolk Southern stock traded up $6.89 during midday trading on Monday, reaching $290.60. 2,918,126 shares of the stock traded hands, compared to its average volume of 1,828,667. The company has a 50-day simple moving average of $278.46 and a two-hundred day simple moving average of $252.08. The firm has a market cap of $65.27 billion, a PE ratio of 19.64, a price-to-earnings-growth ratio of 2.52 and a beta of 1.29. Norfolk Southern Corporation has a 12-month low of $201.63 and a 12-month high of $294.78. 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 (NYSE:NSC - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The railroad operator reported $3.29 EPS for the quarter, beating the consensus estimate of $3.24 by $0.05. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.10 billion. Norfolk Southern has set its FY 2025 guidance at EPS. Research analysts expect that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal 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 given a dividend of $1.35 per share. 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 dividend payout ratio (DPR) 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.