CIBC Asset Management Inc Has $16.63 Million Holdings in Norfolk Southern Corporation $NSC

CIBC Asset Management Inc increased its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 57.0% during the fourth quarter, HoldingsChannel.com reports. The firm owned 57,600 shares of the railroad operator’s stock after buying an additional 20,904 shares during the period. CIBC Asset Management Inc’s holdings in Norfolk Southern were worth $16,630,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also modified their holdings of the company. Gilbert & Cook Inc. increased its holdings in Norfolk Southern by 1.4% in the 4th quarter. Gilbert & Cook Inc. now owns 2,515 shares of the railroad operator’s stock valued at $726,000 after buying an additional 35 shares during the period. Moss Adams Wealth Advisors LLC boosted its position in shares of Norfolk Southern by 4.6% during the 4th quarter. Moss Adams Wealth Advisors LLC now owns 791 shares of the railroad operator’s stock valued at $228,000 after acquiring an additional 35 shares in the last quarter. Confluence Wealth Services Inc. boosted its position in shares of Norfolk Southern by 1.1% during the 4th quarter. Confluence Wealth Services Inc. now owns 3,090 shares of the railroad operator’s stock valued at $892,000 after acquiring an additional 35 shares in the last quarter. Exencial Wealth Advisors LLC increased its stake in Norfolk Southern by 1.1% in the fourth quarter. Exencial Wealth Advisors LLC now owns 3,216 shares of the railroad operator’s stock valued at $929,000 after acquiring an additional 35 shares during the period. Finally, Quotient Wealth Partners LLC increased its stake in Norfolk Southern by 4.5% in the fourth quarter. Quotient Wealth Partners LLC now owns 864 shares of the railroad operator’s stock valued at $250,000 after acquiring an additional 37 shares during the period. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research analysts have commented on NSC shares. Wall Street Zen upgraded shares of Norfolk Southern from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Evercore set a $325.00 target price on Norfolk Southern in a report on Friday, April 24th. Rothschild & Co Redburn raised their target price on Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Barclays boosted their price target on Norfolk Southern from $320.00 to $360.00 and gave the company an “overweight” rating in a research note on Monday, April 27th. Finally, UBS Group set a $327.00 price objective on Norfolk Southern in a research note on Thursday, May 7th. Six investment analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and an average price target of $322.29.

Norfolk Southern Price Performance

Shares of Norfolk Southern stock opened at $307.22 on Friday. The stock has a market capitalization of $69.00 billion, a price-to-earnings ratio of 25.88, a P/E/G ratio of 5.64 and a beta of 1.27. The firm’s 50-day moving average price is $305.08 and its two-hundred day moving average price is $298.97. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. Norfolk Southern Corporation has a 1-year low of $245.19 and a 1-year high of $326.00.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping the consensus estimate of $2.49 by $0.16. The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.Norfolk Southern’s revenue was up .2% compared to the same quarter last year. During the same period in the previous year, the business earned $2.69 EPS. On average, equities analysts predict that Norfolk Southern Corporation will post 12.11 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were paid a $1.35 dividend. The ex-dividend date of this dividend was Friday, May 8th. This represents a $5.40 dividend on an annualized basis and a yield of 1.8%. Norfolk Southern’s payout ratio is currently 45.49%.

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.