USS Investment Management Ltd Sells 9,200 Shares of Norfolk Southern Corporation $NSC

Key Points

• USS Investment Management Ltd reduced its holdings in Norfolk Southern Corporation by 18.2%, now owning 41,303 shares worth approximately $9.79 million.
• Norfolk Southern Corporation's quarterly earnings reported an EPS of $3.29, exceeding estimates by $0.05, with quarterly revenue of $3.11 billion.
• The company announced a quarterly dividend of $1.35, with a current yield of 1.9% and a payout ratio of 36.49%.

USS Investment Management Ltd lessened its stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 18.2% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 41,303 shares of the railroad operator's stock after selling 9,200 shares during the quarter. USS Investment Management Ltd's holdings in Norfolk Southern were worth $9,787,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of the stock. Vanguard Group Inc. raised its holdings in shares of Norfolk Southern by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 20,321,359 shares of the railroad operator's stock worth $4,813,114,000 after purchasing an additional 232,195 shares during the period. Price T Rowe Associates Inc. MD raised its holdings in shares of Norfolk Southern by 31.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,319,010 shares of the railroad operator's stock worth $2,680,910,000 after purchasing an additional 2,710,930 shares during the period. Boston Partners boosted its holdings in shares of Norfolk Southern by 3.4% in the first quarter. Boston Partners now owns 4,159,070 shares of the railroad operator's stock worth $983,161,000 after acquiring an additional 138,678 shares during the period. EdgePoint Investment Group Inc. grew its position in shares of Norfolk Southern by 0.7% in the first quarter. EdgePoint Investment Group Inc. now owns 3,998,335 shares of the railroad operator's stock valued at $947,006,000 after purchasing an additional 29,753 shares in the last quarter. Finally, American Century Companies Inc. raised its stake 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 purchasing an additional 189,076 shares during the period. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Price Performance

NSC traded up $1.35 during trading on Friday, reaching $275.35. The stock had a trading volume of 1,585,130 shares, compared to its average volume of 1,607,491. The stock has a market cap of $61.85 billion, a PE ratio of 18.59, a PEG ratio of 2.41 and a beta of 1.29. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.71 and a current ratio of 0.79. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $291.69. The business has a 50-day moving average of $275.88 and a 200-day moving average of $250.09.

Norfolk Southern (NYSE:NSC - Get Free Report) last released 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. The business had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $3.10 billion. Norfolk Southern had a return on equity of 19.35% and a net margin of 27.51%. Norfolk Southern has set its FY 2025 guidance at EPS. As a group, equities research analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed 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 was Friday, August 1st. This represents a $5.40 annualized dividend and a dividend yield of 2.0%. Norfolk Southern's dividend payout ratio is 36.49%.

Analysts Set New Price Targets

A number of research analysts have weighed in on the company. Bank of America lifted their target price on Norfolk Southern from $290.00 to $305.00 and gave the company a "buy" rating in a report on Thursday, July 17th. Royal Bank Of Canada lowered shares of Norfolk Southern from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, July 29th. Susquehanna reaffirmed a "neutral" rating and set a $260.00 price objective (up previously from $250.00) on shares of Norfolk Southern in a research note on Tuesday, June 24th. Jefferies Financial Group reaffirmed a "hold" rating and set a $300.00 price objective on shares of Norfolk Southern in a research note on Friday, July 25th. Finally, Sanford C. Bernstein boosted 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 investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. According to MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $285.15.

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.