Quantitative Investment Management LLC Buys New Holdings in Norfolk Southern Corporation $NSC

Quantitative Investment Management LLC purchased a new position in Norfolk Southern Corporation (NYSE:NSC) during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 4,867 shares of the railroad operator’s stock, valued at approximately $1,462,000.

A number of other hedge funds have also recently added to or reduced their stakes in NSC. ORG Partners LLC raised its position in shares of Norfolk Southern by 75.0% during the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock worth $25,000 after purchasing an additional 36 shares during the period. Westside Investment Management Inc. grew its position in Norfolk Southern by 207.1% in the 3rd quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock valued at $26,000 after purchasing an additional 58 shares during the period. BNP Paribas bought a new stake in Norfolk Southern during the 2nd quarter valued at $26,000. MMA Asset Management LLC bought a new stake in Norfolk Southern during the 3rd quarter valued at $28,000. Finally, Highline Wealth Partners LLC raised its holdings in Norfolk Southern by 68.9% during the third quarter. Highline Wealth Partners LLC now owns 103 shares of the railroad operator’s stock worth $31,000 after buying an additional 42 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research firms have weighed in on NSC. Evercore raised their price objective on shares of Norfolk Southern from $298.00 to $299.00 in a research note on Thursday, December 18th. Susquehanna boosted their target price on shares of Norfolk Southern from $304.00 to $305.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Jefferies Financial Group upped their target price on shares of Norfolk Southern from $300.00 to $350.00 and gave the stock a “hold” rating in a report on Tuesday, March 3rd. JPMorgan Chase & Co. dropped their price target on shares of Norfolk Southern from $301.00 to $296.00 and set a “neutral” rating on the stock in a research report on Friday, January 30th. Finally, Rothschild & Co Redburn lifted their price target on Norfolk Southern from $299.00 to $317.00 and gave the company a “neutral” rating in a research note on Wednesday, March 4th. Seven research analysts have rated the stock with a Buy rating and eighteen have assigned a Hold rating to the stock. Based on data from MarketBeat, Norfolk Southern presently has an average rating of “Hold” and an average target price of $308.95.

Norfolk Southern Stock Performance

NYSE NSC opened at $290.81 on Friday. The company has a fifty day moving average price of $300.71 and a 200-day moving average price of $291.91. The firm has a market cap of $65.31 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 5.37 and a beta of 1.31. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $319.94.

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

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. Norfolk Southern’s dividend payout ratio (DPR) is currently 42.35%.

Norfolk Southern Company Profile

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.