Norfolk Southern Corporation $NSC is London Co. of Virginia’s 2nd Largest Position

London Co. of Virginia boosted its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 0.3% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 1,810,853 shares of the railroad operator’s stock after acquiring an additional 5,729 shares during the period. Norfolk Southern accounts for 3.0% of London Co. of Virginia’s portfolio, making the stock its 2nd largest holding. London Co. of Virginia owned approximately 0.81% of Norfolk Southern worth $522,838,000 as of its most recent filing with the SEC.

Several other institutional investors also recently bought and sold shares of the stock. Picton Mahoney Asset Management bought a new stake in Norfolk Southern in the third quarter worth $24,033,000. Primecap Management Co. CA increased its position in Norfolk Southern by 7.9% in the third quarter. Primecap Management Co. CA now owns 1,132,583 shares of the railroad operator’s stock worth $340,239,000 after purchasing an additional 82,500 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in Norfolk Southern by 9.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock worth $12,533,000 after purchasing an additional 3,887 shares during the last quarter. NEOS Investment Management LLC increased its position in Norfolk Southern by 47.0% in the third quarter. NEOS Investment Management LLC now owns 25,298 shares of the railroad operator’s stock worth $7,600,000 after purchasing an additional 8,090 shares during the last quarter. Finally, Elo Mutual Pension Insurance Co increased its position in Norfolk Southern by 11.7% in the third quarter. Elo Mutual Pension Insurance Co now owns 15,143 shares of the railroad operator’s stock worth $4,549,000 after purchasing an additional 1,587 shares during the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NSC has been the topic of several research reports. UBS Group set a $327.00 price target on shares of Norfolk Southern in a research report on Thursday, May 7th. Barclays boosted their price target on shares of Norfolk Southern from $320.00 to $360.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. JPMorgan Chase & Co. reduced their price target on shares of Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. BMO Capital Markets boosted their price target on shares of Norfolk Southern from $305.00 to $310.00 and gave the stock a “market perform” rating in a research report on Monday, April 27th. Finally, Sanford C. Bernstein reduced their price target on shares of Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 31st. Six equities research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $322.71.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $310.80 on Wednesday. The firm has a 50-day moving average price of $309.24 and a 200-day moving average price of $300.49. The firm has a market capitalization of $69.80 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 5.73 and a beta of 1.27. 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 12-month low of $249.39 and a 12-month high of $326.00.

Norfolk Southern (NYSE:NSC) last released its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.49 by $0.16. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The business’s revenue was up .2% on a year-over-year basis. During the same quarter last year, the business earned $2.69 EPS. As a group, equities research analysts forecast that Norfolk Southern Corporation will post 12.12 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, May 8th. Norfolk Southern’s dividend payout ratio (DPR) is 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.