MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Purchases 14,846 Shares of Norfolk Southern Corporation $NSC

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in Norfolk Southern Corporation (NYSE:NSC) by 1.3% in the 3rd quarter, HoldingsChannel reports. The institutional investor owned 1,132,501 shares of the railroad operator’s stock after purchasing an additional 14,846 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.’s holdings in Norfolk Southern were worth $340,213,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Brighton Jones LLC grew its holdings in shares of Norfolk Southern by 4.9% in the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after acquiring an additional 79 shares in the last quarter. Intech Investment Management LLC lifted its holdings in Norfolk Southern by 40.4% during the first quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock worth $1,527,000 after acquiring an additional 1,855 shares during the period. Sivia Capital Partners LLC purchased a new position in Norfolk Southern in the second quarter worth $327,000. Schnieders Capital Management LLC. boosted its position in Norfolk Southern by 64.1% in the second quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock worth $1,094,000 after purchasing an additional 1,670 shares during the last quarter. Finally, Advisors Capital Management LLC grew its stake in Norfolk Southern by 23.0% in the 2nd quarter. Advisors Capital Management LLC now owns 1,635 shares of the railroad operator’s stock valued at $419,000 after purchasing an additional 306 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Up 0.5%

Shares of NYSE NSC opened at $290.74 on Tuesday. 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 stock has a market capitalization of $65.29 billion, a PE ratio of 22.80, a P/E/G ratio of 5.22 and a beta of 1.31. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $319.94. The business’s fifty day moving average price is $300.80 and its 200-day moving average price is $292.33.

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

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Friday, February 6th. Norfolk Southern’s dividend payout ratio (DPR) is currently 42.35%.

Wall Street Analyst Weigh In

Several equities research analysts have recently issued reports on NSC shares. Royal Bank Of Canada decreased their target price on Norfolk Southern from $325.00 to $320.00 and set a “sector perform” rating for the company in a research report on Friday, January 30th. Rothschild & Co Redburn increased their price target on shares of Norfolk Southern from $299.00 to $317.00 and gave the company a “neutral” rating in a research report on Wednesday, March 4th. Jefferies Financial Group raised their price objective on shares of Norfolk Southern from $300.00 to $350.00 and gave the stock a “hold” rating in a report on Tuesday, March 3rd. Barclays lowered their price objective on shares of Norfolk Southern from $340.00 to $320.00 and set an “overweight” rating on the stock in a research report on Friday, January 30th. Finally, UBS Group cut shares of Norfolk Southern from a “buy” rating to a “neutral” rating and set a $342.00 target price on the stock. in a research note on Friday, February 6th. Eight investment analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus price target of $308.95.

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.