NEOS Investment Management LLC Grows Stake in Norfolk Southern Corporation $NSC

NEOS Investment Management LLC increased its holdings in Norfolk Southern Corporation (NYSE:NSC) by 47.0% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 25,298 shares of the railroad operator’s stock after acquiring an additional 8,090 shares during the quarter. NEOS Investment Management LLC’s holdings in Norfolk Southern were worth $7,600,000 as of its most recent filing with the Securities & Exchange Commission.

Several other large investors have also bought and sold shares of the company. Brighton Jones LLC boosted its position in shares of Norfolk Southern by 4.9% during the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after purchasing an additional 79 shares in the last quarter. Intech Investment Management LLC grew its position in Norfolk Southern by 40.4% during the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock valued at $1,527,000 after purchasing an additional 1,855 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in shares of Norfolk Southern during the second quarter valued at approximately $327,000. Nordea Investment Management AB increased its holdings in shares of Norfolk Southern by 6.4% in the 2nd quarter. Nordea Investment Management AB now owns 19,598 shares of the railroad operator’s stock worth $5,012,000 after purchasing an additional 1,178 shares in the last quarter. Finally, Schnieders Capital Management LLC. increased its holdings in Norfolk Southern by 64.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock worth $1,094,000 after buying an additional 1,670 shares in the last quarter. 75.10% of the stock is owned by institutional investors.

Insider Activity

In other news, Director William Jr. Clyburn purchased 204 shares of the business’s stock in a transaction dated Friday, December 5th. The shares were purchased at an average price of $294.79 per share, for a total transaction of $60,137.16. Following the completion of the purchase, the director owned 405 shares in the company, valued at approximately $119,389.95. This represents a 101.49% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 0.06% of the company’s stock.

Wall Street Analyst Weigh In

NSC has been the subject of a number of research reports. Robert W. Baird decreased their target price on shares of Norfolk Southern from $293.00 to $288.00 and set a “neutral” rating for the company in a research note on Friday, January 30th. Weiss Ratings restated a “hold (c+)” rating on shares of Norfolk Southern in a research note on Thursday, January 22nd. Citigroup decreased their price target on Norfolk Southern from $317.00 to $300.00 and set a “neutral” rating on the stock in a report on Friday, January 30th. Evercore boosted their target price on shares of Norfolk Southern from $298.00 to $299.00 in a report on Thursday, December 18th. Finally, Benchmark reissued a “hold” rating on shares of Norfolk Southern in a research note on Friday, January 30th. Seven research analysts have rated the stock with a Buy rating, fifteen have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $304.47.

Norfolk Southern Stock Up 0.3%

Shares of NYSE:NSC opened at $316.94 on Thursday. The business has a 50 day simple moving average of $295.20 and a two-hundred day simple moving average of $288.81. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $319.94. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78. The firm has a market capitalization of $71.17 billion, a PE ratio of 24.86, a price-to-earnings-growth ratio of 5.62 and a beta of 1.34.

Norfolk Southern (NYSE:NSC) last released its earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.46. The business had revenue of $3 billion for the quarter, compared to analyst estimates of $3.03 billion. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The business’s revenue was down 1.7% compared to the same quarter last year. During the same quarter last year, the firm posted $3.04 earnings per share. On average, equities analysts predict that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Friday, February 6th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $5.40 annualized dividend and a yield of 1.7%. Norfolk Southern’s dividend payout ratio is 42.35%.

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.