NEOS Investment Management LLC Has $2.61 Million Stock Position in Norfolk Southern Co. (NYSE:NSC)

NEOS Investment Management LLC boosted its holdings in Norfolk Southern Co. (NYSE:NSC) by 28.7% during the 4th quarter, Holdings Channel.com reports. The fund owned 11,137 shares of the railroad operator’s stock after purchasing an additional 2,484 shares during the quarter. NEOS Investment Management LLC’s holdings in Norfolk Southern were worth $2,614,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. United Bank lifted its holdings in shares of Norfolk Southern by 2.4% in the third quarter. United Bank now owns 8,875 shares of the railroad operator’s stock valued at $2,205,000 after purchasing an additional 204 shares in the last quarter. FMR LLC raised its position in Norfolk Southern by 48.4% in the 3rd quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock valued at $671,532,000 after buying an additional 881,415 shares during the last quarter. Townsquare Capital LLC lifted its stake in Norfolk Southern by 40.9% during the 3rd quarter. Townsquare Capital LLC now owns 5,059 shares of the railroad operator’s stock valued at $1,257,000 after acquiring an additional 1,469 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank boosted its holdings in Norfolk Southern by 7.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,979 shares of the railroad operator’s stock worth $11,177,000 after acquiring an additional 3,096 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in shares of Norfolk Southern by 7.0% in the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,023,725 shares of the railroad operator’s stock worth $254,396,000 after acquiring an additional 66,965 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Trading Down 2.0 %

Shares of NSC stock opened at $230.41 on Friday. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. The company’s fifty day simple moving average is $245.28 and its two-hundred day simple moving average is $249.14. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. The stock has a market capitalization of $52.17 billion, a price-to-earnings ratio of 19.93, a PEG ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. As a group, analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

Wall Street Analysts Forecast Growth

Several research analysts recently weighed in on the stock. JPMorgan Chase & Co. boosted their price target on shares of Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft began coverage on Norfolk Southern in a report on Friday, March 7th. They issued a “buy” rating and a $293.00 target price for the company. Loop Capital lowered Norfolk Southern from a “buy” rating to a “hold” rating and dropped their price target for the stock from $289.00 to $256.00 in a report on Monday, February 3rd. Bank of America reduced their price objective on Norfolk Southern from $292.00 to $272.00 and set a “buy” rating for the company in a research note on Tuesday. Finally, Susquehanna lowered their target price on Norfolk Southern from $265.00 to $260.00 and set a “neutral” rating on the stock in a research note on Thursday. One research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $274.84.

Insiders Place Their Bets

In other Norfolk Southern news, Director Gilbert H. Lamphere bought 607 shares of the firm’s stock in a transaction on Friday, January 31st. The shares were acquired at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the purchase, the director now directly owns 2,487 shares of the company’s stock, valued at $646,271.82. The trade was a 32.29 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

About Norfolk Southern

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.