NEOS Investment Management LLC Boosts Stock Holdings in Norfolk Southern Corporation $NSC

NEOS Investment Management LLC increased its stake in Norfolk Southern Corporation (NYSE:NSC) by 14.8% during the 2nd quarter, Holdings Channel reports. The fund owned 36,141 shares of the railroad operator’s stock after purchasing an additional 4,649 shares during the quarter. NEOS Investment Management LLC’s holdings in Norfolk Southern were worth $11,370,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently bought and sold shares of the stock. Edmond DE Rothschild Holding S.A. purchased a new stake in Norfolk Southern during the 2nd quarter worth about $26,000. JPL Wealth Management LLC purchased a new position in shares of Norfolk Southern in the 3rd quarter valued at about $25,000. Meeder Asset Management Inc. acquired a new position in shares of Norfolk Southern during the second quarter worth about $27,000. Comprehensive Financial Planning Inc. PA purchased a new stake in shares of Norfolk Southern during the second quarter worth approximately $31,000. Finally, Kimelman & Baird LLC purchased a new stake in shares of Norfolk Southern during the second quarter worth approximately $31,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the stock. BMO Capital Markets lifted their price target on shares of Norfolk Southern from $310.00 to $355.00 and gave the stock a “market perform” rating in a research note on Monday, July 27th. Robert W. Baird increased their target price on Norfolk Southern from $360.00 to $377.00 and gave the company a “neutral” rating in a report on Monday, July 27th. Susquehanna raised their price target on Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Benchmark reaffirmed a “hold” rating on shares of Norfolk Southern in a research report on Friday, July 24th. Finally, Evercore set a $358.00 price objective on Norfolk Southern in a report on Thursday, July 23rd. Seven equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $348.00.

Norfolk Southern Stock Performance

NYSE NSC opened at $329.07 on Friday. The company has a fifty day moving average of $335.43 and a two-hundred day moving average of $315.67. The company has a market capitalization of $73.91 billion, a PE ratio of 28.08, a P/E/G ratio of 4.89 and a beta of 1.27. Norfolk Southern Corporation has a 1 year low of $268.23 and a 1 year high of $358.60. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, topping analysts’ consensus estimates of $3.32 by $0.20. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the previous year, the firm earned $3.29 earnings per share. The business’s revenue was up 12.5% compared to the same quarter last year. As a group, analysts expect that Norfolk Southern Corporation will post 12.87 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Friday, August 7th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $5.40 annualized dividend and a yield of 1.6%. Norfolk Southern’s payout ratio is 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.