Korea Investment CORP Grows Holdings in Norfolk Southern Corporation $NSC

Korea Investment CORP increased its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 14.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 176,932 shares of the railroad operator’s stock after purchasing an additional 21,696 shares during the period. Korea Investment CORP’s holdings in Norfolk Southern were worth $53,152,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently bought and sold shares of NSC. Park Place Capital Corp boosted its stake in shares of Norfolk Southern by 13,000.0% during the third quarter. Park Place Capital Corp now owns 3,668 shares of the railroad operator’s stock worth $1,102,000 after buying an additional 3,640 shares during the period. Cullen Capital Management LLC increased its position in Norfolk Southern by 31.8% in the 3rd quarter. Cullen Capital Management LLC now owns 121,351 shares of the railroad operator’s stock valued at $36,455,000 after acquiring an additional 29,264 shares during the period. Markel Group Inc. raised its stake in Norfolk Southern by 8.5% during the 3rd quarter. Markel Group Inc. now owns 256,500 shares of the railroad operator’s stock valued at $77,055,000 after acquiring an additional 20,000 shares during the last quarter. AlphaQuest LLC purchased a new stake in Norfolk Southern during the 3rd quarter valued at approximately $2,165,000. Finally, Picton Mahoney Asset Management acquired a new stake in Norfolk Southern during the 3rd quarter worth approximately $24,033,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Trading Down 2.5%

NYSE:NSC opened at $303.02 on Monday. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $319.94. The company has a quick ratio of 0.78, a current ratio of 0.85 and a debt-to-equity ratio of 1.06. The stock has a fifty day simple moving average of $300.10 and a 200-day simple moving average of $291.64. The company has a market capitalization of $68.05 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 5.47 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 EPS 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 firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.03 billion. During the same period in the prior year, the company earned $3.04 EPS. The firm’s revenue was down 1.7% on a year-over-year basis. On average, equities research analysts expect that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 6th were given a $1.35 dividend. The ex-dividend date was Friday, February 6th. This represents a $5.40 annualized dividend and a dividend yield of 1.8%. Norfolk Southern’s dividend payout ratio is currently 42.35%.

Analysts Set New Price Targets

Several research analysts have weighed in on NSC shares. Rothschild & Co Redburn lifted their target price on Norfolk Southern from $299.00 to $317.00 and gave the company a “neutral” rating in a research note on Wednesday, March 4th. Argus raised Norfolk Southern to a “hold” rating in a report on Wednesday, February 25th. Susquehanna lifted their price objective on shares of Norfolk Southern from $304.00 to $305.00 and gave the company a “neutral” rating in a research report on Friday, January 30th. Deutsche Bank Aktiengesellschaft cut shares of Norfolk Southern from a “buy” rating to a “hold” rating and dropped their price objective for the company from $354.00 to $297.00 in a research note on Thursday, December 11th. Finally, UBS Group downgraded shares of Norfolk Southern from a “buy” rating to a “neutral” rating and set a $342.00 price objective for the company. in a research report on Friday, February 6th. Seven analysts have rated the stock with a Buy rating and eighteen have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average target price of $308.95.

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.