Mystic Asset Management Inc. Takes Position in Norfolk Southern Corporation $NSC

Mystic Asset Management Inc. purchased a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund purchased 2,040 shares of the railroad operator’s stock, valued at approximately $642,000.

Several other hedge funds have also recently bought and sold shares of NSC. Louisiana State Employees Retirement System acquired a new stake in shares of Norfolk Southern during the 1st quarter valued at $3,272,000. O Shaughnessy Asset Management LLC increased its stake in shares of Norfolk Southern by 9.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock worth $12,533,000 after acquiring an additional 3,887 shares during the last quarter. SCS Capital Management LLC acquired a new position in shares of Norfolk Southern in the second quarter worth $13,837,000. Focus Partners Advisor Solutions LLC purchased a new stake in shares of Norfolk Southern during the second quarter worth $1,376,000. Finally, PensionDanmark Pensionsforsikringsaktieselskab boosted its position in Norfolk Southern by 29.2% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 54,620 shares of the railroad operator’s stock valued at $17,183,000 after purchasing an additional 12,350 shares during the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts have commented on NSC shares. JPMorgan Chase & Co. boosted their target price on Norfolk Southern from $316.00 to $338.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. BMO Capital Markets lifted their price target on Norfolk Southern from $310.00 to $355.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Stephens raised Norfolk Southern to a “hold” rating in a research note on Wednesday, July 8th. TD Cowen increased their price objective on Norfolk Southern from $337.00 to $376.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Finally, Robert W. Baird raised their price objective on shares of Norfolk Southern from $360.00 to $377.00 and gave the company a “neutral” rating in a research report on Monday, July 27th. Seven research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, Norfolk Southern has an average rating of “Hold” and a consensus price target of $348.00.

Norfolk Southern Trading Up 0.4%

Norfolk Southern stock opened at $347.15 on Friday. Norfolk Southern Corporation has a one year low of $268.23 and a one year high of $358.60. The company’s fifty day moving average price is $327.49 and its two-hundred day moving average price is $313.05. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73. The company has a market capitalization of $77.97 billion, a price-to-earnings ratio of 29.62, a PEG ratio of 6.12 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, topping analysts’ consensus estimates of $3.32 by $0.20. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The business’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.29 earnings per share. On average, analysts forecast that Norfolk Southern Corporation will post 12.66 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, August 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.08%.

Norfolk Southern 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.