4,867 Shares in Norfolk Southern Corporation $NSC Bought by Quantitative Investment Management LLC

Quantitative Investment Management LLC acquired a new position in Norfolk Southern Corporation (NYSE:NSC) during the 3rd quarter, HoldingsChannel.com reports. The fund acquired 4,867 shares of the railroad operator’s stock, valued at approximately $1,462,000.

Other large investors have also recently made changes to their positions in the company. Norges Bank bought a new stake in shares of Norfolk Southern during the 2nd quarter worth $613,255,000. Holocene Advisors LP grew its position in Norfolk Southern by 550.6% during the second quarter. Holocene Advisors LP now owns 983,366 shares of the railroad operator’s stock valued at $251,712,000 after buying an additional 832,210 shares during the period. TOMS Capital Investment Management LP purchased a new stake in Norfolk Southern during the second quarter worth about $181,995,000. Alpine Associates Management Inc. purchased a new stake in Norfolk Southern during the third quarter worth about $150,989,000. Finally, Assenagon Asset Management S.A. raised its position in Norfolk Southern by 93.1% in the third quarter. Assenagon Asset Management S.A. now owns 952,544 shares of the railroad operator’s stock worth $286,154,000 after acquiring an additional 459,166 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Price Performance

NSC opened at $290.81 on Friday. The company has a market capitalization of $65.31 billion, a price-to-earnings ratio of 22.81, a PEG ratio of 5.37 and a beta of 1.31. The company has a quick ratio of 0.78, a current ratio of 0.85 and a debt-to-equity ratio of 1.06. The firm has a 50-day moving average price of $300.71 and a 200-day moving average price of $291.91. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $319.94.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, January 29th. The railroad operator reported $3.22 EPS for the quarter, beating analysts’ consensus estimates of $2.76 by $0.46. The company had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.03 billion. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. Norfolk Southern’s revenue was down 1.7% compared to the same quarter last year. During the same period in the prior year, the company posted $3.04 EPS. Equities analysts expect that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $5.40 dividend on an annualized basis and a yield of 1.9%. Norfolk Southern’s payout ratio is presently 42.35%.

Wall Street Analyst Weigh In

NSC has been the topic of a number of research analyst reports. Barclays dropped their target price on shares of Norfolk Southern from $340.00 to $320.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. Benchmark reaffirmed a “hold” rating on shares of Norfolk Southern in a report on Friday, January 30th. Jefferies Financial Group upped their price objective on Norfolk Southern from $300.00 to $350.00 and gave the company a “hold” rating in a research note on Tuesday, March 3rd. Rothschild & Co Redburn increased their price objective on Norfolk Southern from $299.00 to $317.00 and gave the company a “neutral” rating in a report on Wednesday, March 4th. Finally, Robert W. Baird raised their target price on Norfolk Southern from $288.00 to $315.00 and gave the stock a “neutral” rating in a research report on Friday, March 6th. Seven analysts have rated the stock with a Buy rating and eighteen have given a Hold rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $308.95.

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.