NEOS Investment Management LLC Acquires 2,484 Shares of Norfolk Southern Co. (NYSE:NSC)

NEOS Investment Management LLC grew its holdings in Norfolk Southern Co. (NYSE:NSC) by 28.7% during the 4th quarter, according to the company in its most recent filing with the SEC. The fund owned 11,137 shares of the railroad operator’s stock after purchasing an additional 2,484 shares during the period. NEOS Investment Management LLC’s holdings in Norfolk Southern were worth $2,614,000 as of its most recent SEC filing.

Other institutional investors also recently modified their holdings of the company. United Bank lifted its holdings in shares of Norfolk Southern by 2.4% in the third quarter. United Bank now owns 8,875 shares of the railroad operator’s stock worth $2,205,000 after acquiring an additional 204 shares during the last quarter. FMR LLC lifted its stake in Norfolk Southern by 48.4% in the 3rd quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock valued at $671,532,000 after purchasing an additional 881,415 shares during the last quarter. Townsquare Capital LLC boosted its position in Norfolk Southern by 40.9% in the third quarter. Townsquare Capital LLC now owns 5,059 shares of the railroad operator’s stock valued at $1,257,000 after buying an additional 1,469 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Norfolk Southern by 7.4% during the third quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,979 shares of the railroad operator’s stock worth $11,177,000 after buying an additional 3,096 shares during the last quarter. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of Norfolk Southern by 7.0% during the third quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,023,725 shares of the railroad operator’s stock worth $254,396,000 after buying an additional 66,965 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Trading Down 2.0 %

Shares of NSC stock opened at $230.41 on Friday. Norfolk Southern Co. has a fifty-two week low of $206.71 and a fifty-two week high of $277.60. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. The stock has a 50 day simple moving average of $245.28 and a two-hundred day simple moving average of $249.14. The company has a market cap of $52.17 billion, a P/E ratio of 19.93, a PEG ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. Research analysts forecast that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were issued a dividend of $1.35 per share. The ex-dividend date was Friday, February 7th. This represents a $5.40 annualized dividend and a dividend yield of 2.34%. Norfolk Southern’s dividend payout ratio is currently 46.71%.

Insider Transactions at Norfolk Southern

In other news, Director Gilbert H. Lamphere purchased 607 shares of the business’s stock in a transaction on Friday, January 31st. The shares were acquired at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the acquisition, the director now owns 2,487 shares in the company, valued at approximately $646,271.82. The trade was a 32.29 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 0.19% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on NSC shares. Loop Capital lowered Norfolk Southern from a “buy” rating to a “hold” rating and reduced their price objective for the stock from $289.00 to $256.00 in a research report on Monday, February 3rd. Stephens boosted their price target on Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Royal Bank of Canada raised their price objective on shares of Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Benchmark reissued a “buy” rating and set a $285.00 target price on shares of Norfolk Southern in a report on Thursday, January 30th. Finally, Susquehanna cut their price target on shares of Norfolk Southern from $265.00 to $260.00 and set a “neutral” rating on the stock in a report on Thursday. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $274.84.

Norfolk Southern Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.