OP Asset Management Ltd Acquires New Holdings in Norfolk Southern Corporation $NSC

OP Asset Management Ltd bought a new stake in Norfolk Southern Corporation (NYSE:NSC) during the first quarter, Holdings Channel.com reports. The institutional investor bought 22,831 shares of the railroad operator’s stock, valued at approximately $6,552,000.

Several other hedge funds also recently bought and sold shares of the stock. Gilbert & Cook Inc. raised its stake in shares of 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 acquiring 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 worth $228,000 after purchasing an additional 35 shares during the period. 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 worth $892,000 after purchasing an additional 35 shares during the period. Exencial Wealth Advisors LLC increased its holdings in Norfolk Southern by 1.1% in the 4th quarter. Exencial Wealth Advisors LLC now owns 3,216 shares of the railroad operator’s stock valued at $929,000 after purchasing an additional 35 shares during the last quarter. Finally, Sovereign Financial Group Inc. increased its holdings in Norfolk Southern by 3.3% in the 1st quarter. Sovereign Financial Group Inc. now owns 1,108 shares of the railroad operator’s stock valued at $318,000 after purchasing an additional 35 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of research analysts have commented on NSC shares. BMO Capital Markets upped their price target on Norfolk Southern from $305.00 to $310.00 and gave the stock a “market perform” rating in a research note on Monday, April 27th. TD Cowen lifted their price objective on Norfolk Southern from $313.00 to $337.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Royal Bank Of Canada cut their price objective on Norfolk Southern from $360.00 to $320.00 and set a “sector perform” rating on the stock in a report on Wednesday. Sanford C. Bernstein decreased their target price on Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st. Finally, JPMorgan Chase & Co. dropped their target price on Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating for the company in a research report on Tuesday, April 7th. Six analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $320.35.

Norfolk Southern Stock Performance

NYSE:NSC opened at $311.52 on Friday. Norfolk Southern Corporation has a 52 week low of $252.54 and a 52 week high of $326.00. The company has a fifty day simple moving average of $310.49 and a two-hundred day simple moving average of $301.02. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04. The company has a market cap of $69.96 billion, a price-to-earnings ratio of 26.24, a price-to-earnings-growth ratio of 5.61 and a beta of 1.27.

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, beating analysts’ consensus estimates of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the business posted $2.69 earnings per share. Norfolk Southern’s revenue was up .2% compared to the same quarter last year. As a group, equities analysts anticipate that Norfolk Southern Corporation will post 12.12 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were given 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 1.7%. Norfolk Southern’s dividend payout ratio (DPR) is currently 45.49%.

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.