Woodward Diversified Capital LLC Raises Stock Holdings in Norfolk Southern Corporation $NSC

Key Points

• Woodward Diversified Capital LLC increased its holdings in Norfolk Southern Corporation by 48.0% in the second quarter, owning 2,875 shares worth approximately $736,000.
• Multiple hedge funds also raised their stakes in Norfolk Southern, with First Pacific Financial significantly increasing its holdings by 452.2% during the same period.
• Analyst ratings have improved for Norfolk Southern, with Barclays and TD Cowen raising their price targets to $300.00 and $323.00 respectively, while seven analysts now rate the stock as a Buy.

Woodward Diversified Capital LLC increased its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 48.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 2,875 shares of the railroad operator's stock after purchasing an additional 933 shares during the period. Woodward Diversified Capital LLC's holdings in Norfolk Southern were worth $736,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NSC. First Pacific Financial grew its position in shares of Norfolk Southern by 452.2% in the 2nd quarter. First Pacific Financial now owns 254 shares of the railroad operator's stock worth $65,000 after buying an additional 208 shares during the period. QTR Family Wealth LLC grew its holdings in Norfolk Southern by 13.8% in the second quarter. QTR Family Wealth LLC now owns 1,003 shares of the railroad operator's stock worth $257,000 after purchasing an additional 122 shares during the period. Childress Capital Advisors LLC grew its holdings in Norfolk Southern by 29.9% in the second quarter. Childress Capital Advisors LLC now owns 1,129 shares of the railroad operator's stock worth $289,000 after purchasing an additional 260 shares during the period. PFG Investments LLC grew its holdings in Norfolk Southern by 5.6% in the second quarter. PFG Investments LLC now owns 1,857 shares of the railroad operator's stock worth $475,000 after purchasing an additional 99 shares during the period. Finally, LBP AM SA purchased a new stake in Norfolk Southern in the second quarter worth about $4,834,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

NSC has been the topic of several recent research reports. Barclays upped their price target on Norfolk Southern from $290.00 to $300.00 and gave the stock an "overweight" rating in a research note on Wednesday, July 30th. TD Cowen raised Norfolk Southern from a "hold" rating to a "buy" rating and increased their target price for the stock from $263.00 to $323.00 in a research note on Monday, July 21st. Baird R W raised Norfolk Southern to a "hold" rating in a research note on Tuesday, July 1st. Loop Capital increased their target price on Norfolk Southern from $235.00 to $278.00 and gave the stock a "hold" rating in a research note on Tuesday, September 16th. Finally, Bank of America increased their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the company a "buy" rating in a research report on Thursday, July 17th. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to MarketBeat.com, Norfolk Southern has an average rating of "Hold" and an average price target of $288.45.

Norfolk Southern Stock Performance

Shares of NYSE NSC opened at $298.60 on Thursday. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $300.91. 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 firm's 50-day moving average price is $281.89 and its 200-day moving average price is $254.90. The company has a market cap of $67.07 billion, a PE ratio of 20.18, a PEG ratio of 2.66 and a beta of 1.33.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share (EPS) for the quarter, topping 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 company had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $3.10 billion. Norfolk Southern has set its FY 2025 guidance at EPS. As a group, analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Friday, August 1st were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, August 1st. Norfolk Southern's dividend payout ratio (DPR) is presently 36.49%.

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.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.