OMERS ADMINISTRATION Corp Invests $52.81 Million in Norfolk Southern Corporation $NSC

OMERS ADMINISTRATION Corp acquired a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) during the 2nd quarter, HoldingsChannel reports. The institutional investor acquired 167,860 shares of the railroad operator’s stock, valued at approximately $52,807,000.

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

Norfolk Southern Trading Up 0.0%

Shares of Norfolk Southern stock opened at $350.77 on Monday. The stock has a market cap of $78.79 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 6.21 and a beta of 1.27. The firm has a fifty day moving average price of $328.23 and a 200 day moving average price of $313.47. 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 quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating the consensus estimate of $3.32 by $0.20. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The firm’s revenue was up 12.5% on a year-over-year basis. During the same period in the prior year, the company earned $3.29 earnings per share. Equities research analysts predict that Norfolk Southern Corporation will post 12.66 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, August 7th. Norfolk Southern’s payout ratio is 46.08%.

Analyst Upgrades and Downgrades

NSC has been the topic of several research reports. Wall Street Zen raised Norfolk Southern from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. Barclays boosted their price target on Norfolk Southern from $360.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Rothschild & Co Redburn increased their price objective on Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Citigroup raised their price objective on Norfolk Southern from $351.00 to $376.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Finally, BMO Capital Markets lifted their target price on Norfolk Southern from $310.00 to $355.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Seven analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat.com, Norfolk Southern has a consensus rating of “Hold” and a consensus price target of $348.00.

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.