Van ECK Associates Corp Has $19.55 Million Position in Norfolk Southern Corporation $NSC

Van ECK Associates Corp boosted its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 12.5% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 65,069 shares of the railroad operator’s stock after purchasing an additional 7,206 shares during the quarter. Van ECK Associates Corp’s holdings in Norfolk Southern were worth $19,547,000 at the end of the most recent quarter.

Other institutional investors also recently modified their holdings of the company. Tritonpoint Wealth LLC boosted its holdings in shares of Norfolk Southern by 3.5% during the 3rd quarter. Tritonpoint Wealth LLC now owns 1,041 shares of the railroad operator’s stock worth $313,000 after buying an additional 35 shares during the period. Massachusetts Wealth Management raised its holdings in Norfolk Southern by 0.6% in the 3rd quarter. Massachusetts Wealth Management now owns 5,986 shares of the railroad operator’s stock worth $1,798,000 after acquiring an additional 35 shares during the period. ORG Partners LLC lifted its position in Norfolk Southern by 75.0% during the 3rd quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock worth $25,000 after acquiring an additional 36 shares during the last quarter. Inspirion Wealth Advisors LLC lifted its position in Norfolk Southern by 1.9% during the 3rd quarter. Inspirion Wealth Advisors LLC now owns 2,008 shares of the railroad operator’s stock worth $603,000 after acquiring an additional 37 shares during the last quarter. Finally, U.S. Capital Wealth Advisors LLC boosted its holdings in Norfolk Southern by 1.8% during the third quarter. U.S. Capital Wealth Advisors LLC now owns 2,042 shares of the railroad operator’s stock valued at $613,000 after acquiring an additional 37 shares during the period. Institutional investors own 75.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the company. JPMorgan Chase & Co. dropped their price objective on Norfolk Southern from $301.00 to $296.00 and set a “neutral” rating on the stock in a research note on Friday, January 30th. Jefferies Financial Group raised their target price on Norfolk Southern from $300.00 to $350.00 and gave the company a “hold” rating in a report on Tuesday, March 3rd. Deutsche Bank Aktiengesellschaft downgraded Norfolk Southern from a “buy” rating to a “hold” rating and dropped their price target for the stock from $354.00 to $297.00 in a research report on Thursday, December 11th. Royal Bank Of Canada cut their price target on Norfolk Southern from $325.00 to $320.00 and set a “sector perform” rating for the company in a report on Friday, January 30th. Finally, Rothschild & Co Redburn raised their price objective on shares of Norfolk Southern from $299.00 to $317.00 and gave the stock a “neutral” rating in a research note on Wednesday, March 4th. Seven research analysts have rated the stock with a Buy rating and eighteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $308.95.

Norfolk Southern Stock Performance

NSC traded down $1.74 on Friday, hitting $289.52. 91,553 shares of the stock traded hands, compared to its average volume of 1,262,844. The business has a fifty day moving average price of $300.71 and a two-hundred day moving average price of $291.91. The company has a current ratio of 0.85, a quick ratio of 0.78 and a debt-to-equity ratio of 1.06. The firm has a market capitalization of $65.02 billion, a PE ratio of 22.71, a P/E/G ratio of 5.37 and a beta of 1.31. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $319.94.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.46. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.03 billion. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The company’s quarterly revenue was down 1.7% on a year-over-year basis. During the same quarter last year, the company earned $3.04 EPS. On average, research analysts predict that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Friday, February 6th. Norfolk Southern’s dividend payout ratio (DPR) is 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.