Norfolk Southern Corporation $NSC Shares Newly Acquired by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. acquired a new position in shares of Norfolk Southern Corporation (NYSE:NSC) during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund acquired 55,151 shares of the railroad operator’s stock, valued at approximately $17,042,000.

Several other hedge funds have also bought and sold shares of the company. Edmond DE Rothschild Holding S.A. acquired a new position in Norfolk Southern during the second quarter worth approximately $26,000. Meeder Asset Management Inc. acquired a new stake in shares of Norfolk Southern in the second quarter valued at approximately $27,000. Elevation Wealth Partners LLC boosted its stake in shares of Norfolk Southern by 2,125.0% during the 3rd quarter. Elevation Wealth Partners LLC now owns 89 shares of the railroad operator’s stock worth $28,000 after acquiring an additional 85 shares during the period. North Point Portfolio Managers Corp OH bought a new position in shares of Norfolk Southern during the 3rd quarter worth approximately $28,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in shares of Norfolk Southern during the 2nd quarter worth approximately $31,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $341.19 on Wednesday. Norfolk Southern Corporation has a 12 month low of $277.80 and a 12 month high of $358.60. The stock’s 50 day moving average is $326.03 and its 200-day moving average is $315.44. The company has a current ratio of 0.90, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The company has a market capitalization of $76.64 billion, a price-to-earnings ratio of 28.60, a PEG ratio of 5.17 and a beta of 1.20.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, October 22nd. The railroad operator reported $3.62 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.16. The company had revenue of $3.53 billion for the quarter, compared to analyst estimates of $3.48 billion. Norfolk Southern had a return on equity of 18.22% and a net margin of 20.70%. The firm’s quarterly revenue was up 13.6% compared to the same quarter last year. During the same quarter last year, the company earned $3.30 earnings per share. Equities research analysts expect that Norfolk Southern Corporation will post 12.80 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Friday, November 6th. Norfolk Southern’s dividend payout ratio is currently 45.26%.

Wall Street Analysts Forecast Growth

NSC has been the topic of a number of research analyst reports. Susquehanna dropped their price target on Norfolk Southern from $386.00 to $350.00 and set a “neutral” rating on the stock in a research note on Friday, October 2nd. Barclays lifted their price objective on shares of Norfolk Southern from $360.00 to $400.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. BMO Capital Markets upped their price objective on shares of Norfolk Southern from $310.00 to $355.00 and gave the company a “market perform” rating in a report on Monday, July 27th. Weiss Ratings upgraded shares of Norfolk Southern from a “buy (b-)” rating to a “buy (b)” rating in a report on Friday, October 9th. Finally, JPMorgan Chase & Co. increased their price objective on shares of Norfolk Southern from $318.00 to $323.00 and gave the company a “neutral” rating in a research report on Friday, October 23rd. Seven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, Norfolk Southern has a consensus rating of “Hold” and an average target price of $348.81.

Norfolk Southern Profile

Norfolk Southern Corporation (NYSE:NSC) is a transportation company that operates one of the largest freight railroad networks in the eastern United States. Through its Norfolk Southern Railway subsidiary, the company provides rail transportation and related services across a broad territory spanning portions of the Midwest, South and East Coast, including access to major industrial centers, ports and distribution markets.

Norfolk Southern transports a diverse range of commodities, including intermodal freight, merchandise, automotive products, coal and other energy-related materials.