Neo Ivy Capital Management Invests $1.80 Million in Norfolk Southern Corporation $NSC

Neo Ivy Capital Management bought a new position in shares of Norfolk Southern Corporation (NYSE:NSC) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 6,002 shares of the railroad operator’s stock, valued at approximately $1,803,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Park Place Capital Corp boosted its stake in Norfolk Southern by 13,000.0% in the third quarter. Park Place Capital Corp now owns 3,668 shares of the railroad operator’s stock valued at $1,102,000 after acquiring an additional 3,640 shares in the last quarter. Cullen Capital Management LLC increased its position in shares of Norfolk Southern by 31.8% during the third quarter. Cullen Capital Management LLC now owns 121,351 shares of the railroad operator’s stock worth $36,455,000 after purchasing an additional 29,264 shares in the last quarter. Markel Group Inc. lifted its holdings in shares of Norfolk Southern by 8.5% in the 3rd quarter. Markel Group Inc. now owns 256,500 shares of the railroad operator’s stock valued at $77,055,000 after purchasing an additional 20,000 shares during the last quarter. AlphaQuest LLC purchased a new stake in shares of Norfolk Southern in the 3rd quarter valued at about $2,165,000. Finally, First Horizon Corp acquired a new stake in shares of Norfolk Southern in the 3rd quarter valued at about $565,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NSC has been the topic of several research analyst reports. Barclays cut their price target on Norfolk Southern from $340.00 to $320.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Argus upgraded shares of Norfolk Southern to a “hold” rating in a research report on Wednesday, February 25th. Royal Bank Of Canada cut their target price on shares of Norfolk Southern from $325.00 to $320.00 and set a “sector perform” rating on the stock in a report on Friday, January 30th. Sanford C. Bernstein reduced their price target on shares of Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating for the company in a research report on Tuesday, November 11th. Finally, Deutsche Bank Aktiengesellschaft cut shares of Norfolk Southern from a “buy” rating to a “hold” rating and decreased their price target for the stock from $354.00 to $297.00 in a research note on Thursday, December 11th. Seven equities research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, Norfolk Southern has a consensus rating of “Hold” and an average target price of $304.47.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $303.02 on Friday. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $319.94. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78. The business has a 50 day simple moving average of $300.10 and a 200-day simple moving average of $291.55. The stock has a market capitalization of $68.05 billion, a PE ratio of 23.77, a price-to-earnings-growth ratio of 5.61 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.46. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3.03 billion. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. Norfolk Southern’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period last year, the firm posted $3.04 EPS. Equities analysts predict that Norfolk Southern Corporation 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 Friday, February 20th. Stockholders of record on Friday, February 6th were issued a $1.35 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $5.40 annualized dividend and a dividend yield of 1.8%. Norfolk Southern’s payout ratio is presently 42.35%.

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.