NEOS Investment Management LLC Grows Position in Norfolk Southern Corporation $NSC

NEOS Investment Management LLC boosted its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 14.8% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,141 shares of the railroad operator’s stock after purchasing an additional 4,649 shares during the period. NEOS Investment Management LLC’s holdings in Norfolk Southern were worth $11,370,000 at the end of the most recent quarter.

Other hedge funds have also made changes to their positions in the company. JPL Wealth Management LLC acquired a new stake in shares of Norfolk Southern during the 3rd quarter worth approximately $25,000. Edmond DE Rothschild Holding S.A. purchased a new position in Norfolk Southern in the second quarter worth approximately $26,000. BNP Paribas acquired a new stake in Norfolk Southern during the second quarter worth $26,000. Meeder Asset Management Inc. acquired a new stake in Norfolk Southern during the second quarter worth $27,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new stake in Norfolk Southern in the second quarter valued at $31,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

NSC has been the subject of a number of research analyst reports. BMO Capital Markets increased their price target on Norfolk Southern from $310.00 to $355.00 and gave the stock a “market perform” rating in a report on Monday, July 27th. Barclays lifted their price target on shares of Norfolk Southern from $360.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Wells Fargo & Company boosted their price target on shares of Norfolk Southern from $365.00 to $385.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Royal Bank Of Canada upped their price objective on shares of Norfolk Southern from $320.00 to $360.00 and gave the stock a “sector perform” rating in a report on Friday, July 24th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Norfolk Southern from $316.00 to $338.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat, Norfolk Southern currently has a consensus rating of “Hold” and an average price target of $348.00.

Norfolk Southern Price Performance

NSC opened at $329.07 on Friday. The stock’s 50-day moving average price is $335.43 and its 200 day moving average price is $315.67. Norfolk Southern Corporation has a 12-month low of $268.23 and a 12-month high of $358.60. The firm has a market cap of $73.91 billion, a price-to-earnings ratio of 28.08, a PEG ratio of 4.89 and a beta of 1.27. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98.

Norfolk Southern (NYSE:NSC) last released its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, beating the consensus estimate of $3.32 by $0.20. The company had revenue of $3.46 billion during 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%.Norfolk Southern’s revenue was up 12.5% compared to the same quarter last year. During the same period in the previous year, the company posted $3.29 EPS. As a group, sell-side analysts expect that Norfolk Southern Corporation will post 12.87 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were issued a $1.35 dividend. The ex-dividend date was Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.6%. Norfolk Southern’s payout ratio is 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.