Norfolk Southern Corporation $NSC Shares Bought by OMERS ADMINISTRATION Corp

OMERS ADMINISTRATION Corp grew its position in Norfolk Southern Corporation (NYSE:NSC) by 29.6% during the first quarter, Holdings Channel.com reports. The firm owned 10,526 shares of the railroad operator’s stock after acquiring an additional 2,407 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Norfolk Southern were worth $3,021,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. JPL Wealth Management LLC purchased a new position in Norfolk Southern in the third quarter valued at $25,000. Meeder Asset Management Inc. boosted its position in shares of Norfolk Southern by 239.3% during the 4th quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock worth $27,000 after acquiring an additional 67 shares in the last quarter. BNP Paribas purchased a new position in shares of Norfolk Southern in the 2nd quarter valued at about $26,000. Financial Life Planners purchased a new position in shares of Norfolk Southern in the 1st quarter valued at about $33,000. Finally, Bayban acquired a new stake in shares of Norfolk Southern during the 4th quarter worth about $34,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently issued reports on NSC shares. Rothschild & Co Redburn upped their price target on Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. TD Cowen raised their price objective on shares of Norfolk Southern from $337.00 to $376.00 and gave the stock a “buy” rating in a report on Friday. Evercore set a $358.00 price objective on shares of Norfolk Southern in a research report on Thursday, July 23rd. Stephens upgraded shares of Norfolk Southern to a “hold” rating in a report on Wednesday, July 8th. Finally, Sanford C. Bernstein lowered their target price on shares of Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating for the company in a report on Tuesday, March 31st. Seven research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to data from MarketBeat, Norfolk Southern presently has an average rating of “Hold” and a consensus price target of $348.00.

Norfolk Southern Stock Down 1.2%

Norfolk Southern stock opened at $339.18 on Wednesday. The company has a market capitalization of $76.18 billion, a P/E ratio of 28.94, a PEG ratio of 6.11 and a beta of 1.27. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.73 and a current ratio of 0.83. Norfolk Southern Corporation has a fifty-two week low of $268.23 and a fifty-two week high of $358.60. The stock has a 50-day simple moving average of $318.25 and a 200-day simple moving average of $307.05.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.32 by $0.20. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The firm’s quarterly revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the business posted $3.29 EPS. Equities research analysts expect that Norfolk Southern Corporation will post 12.6 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Friday, August 7th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 7th. Norfolk Southern’s dividend payout ratio is presently 46.08%.

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.