Grantham Mayo Van Otterloo & Co. LLC Acquires 54,133 Shares of Norfolk Southern Corporation $NSC

Grantham Mayo Van Otterloo & Co. LLC increased its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 1,104.5% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 59,034 shares of the railroad operator’s stock after purchasing an additional 54,133 shares during the quarter. Grantham Mayo Van Otterloo & Co. LLC’s holdings in Norfolk Southern were worth $17,734,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. ORG Partners LLC boosted its stake in Norfolk Southern by 75.0% in the 3rd 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 holdings in Norfolk Southern by 207.1% during the 3rd quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock valued at $26,000 after buying an additional 58 shares in the last quarter. BNP Paribas bought a new stake in shares of Norfolk Southern during the second quarter valued at approximately $26,000. True Wealth Design LLC raised its position in shares of Norfolk Southern by 423.8% during the second quarter. True Wealth Design LLC now owns 110 shares of the railroad operator’s stock valued at $28,000 after buying an additional 89 shares during the last quarter. Finally, MMA Asset Management LLC purchased a new position in shares of Norfolk Southern in the third quarter worth $28,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Trading Down 2.5%

NSC stock opened at $303.02 on Monday. The firm has a fifty day moving average price of $300.10 and a 200 day moving average price of $291.64. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $319.94. The firm has a market cap 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. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.78 and a current ratio of 0.85.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share (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 company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the prior year, the firm earned $3.04 earnings per share. Norfolk Southern’s revenue was down 1.7% on a year-over-year basis. Sell-side analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

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

Analysts Set New Price Targets

A number of equities analysts recently weighed in on NSC shares. Robert W. Baird upped their target price on shares of Norfolk Southern from $288.00 to $315.00 and gave the stock a “neutral” rating in a research report on Friday. Weiss Ratings reiterated a “hold (c+)” rating on shares of Norfolk Southern in a report on Thursday, January 22nd. Rothschild & Co Redburn boosted their price target on shares of Norfolk Southern from $299.00 to $317.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 4th. Wolfe Research increased their price objective on shares of Norfolk Southern from $361.00 to $368.00 and gave the company an “outperform” rating in a report on Thursday, January 8th. Finally, Barclays cut their price objective on Norfolk Southern from $340.00 to $320.00 and set an “overweight” rating for the company in a research report on Friday, January 30th. Seven investment analysts have rated the stock with a Buy rating and eighteen have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average price target of $308.95.

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.