Norfolk Southern Corporation $NSC Stock Holdings Lifted by International Assets Investment Management LLC

International Assets Investment Management LLC boosted its stake in Norfolk Southern Corporation (NYSE:NSC) by 6,659.1% in the third quarter, Holdings Channel reports. The firm owned 122,339 shares of the railroad operator’s stock after purchasing an additional 120,529 shares during the quarter. International Assets Investment Management LLC’s holdings in Norfolk Southern were worth $37,803,000 at the end of the most recent reporting period.

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

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NSC. Benchmark reaffirmed a “hold” rating on shares of Norfolk Southern in a report on Friday, July 24th. Evercore lifted their price objective on shares of Norfolk Southern from $358.00 to $360.00 in a research note on Wednesday, September 30th. Barclays boosted their price objective 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 upped their target price on Norfolk Southern from $365.00 to $385.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Finally, Susquehanna reduced their target price on Norfolk Southern from $386.00 to $350.00 and set a “neutral” rating on the stock in a report on Friday, October 2nd. Seven equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, Norfolk Southern has an average rating of “Hold” and a consensus target price of $348.81.

Norfolk Southern Trading Up 0.1%

Shares of NSC stock opened at $342.55 on Friday. Norfolk Southern Corporation has a twelve month low of $277.80 and a twelve month high of $358.60. The stock’s fifty day simple moving average is $326.36 and its 200 day simple moving average is $314.88. The company has a quick ratio of 0.81, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $76.94 billion, a P/E ratio of 28.71, a P/E/G ratio of 5.12 and a beta of 1.29.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, October 22nd. The railroad operator reported $3.62 EPS for the quarter, beating the consensus estimate of $3.46 by $0.16. The firm had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.48 billion. Norfolk Southern had a return on equity of 18.22% and a net margin of 20.70%. The business’s quarterly revenue was up 13.6% on a year-over-year basis. During the same period last year, the company earned $3.30 earnings per share. As a group, sell-side analysts predict that Norfolk Southern Corporation will post 12.80 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

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

Norfolk Southern Company 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.