OMERS ADMINISTRATION Corp Increases Stock Position in Norfolk Southern Corporation $NSC

OMERS ADMINISTRATION Corp raised its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 29.6% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 10,526 shares of the railroad operator’s stock after acquiring an additional 2,407 shares during the period. OMERS ADMINISTRATION Corp’s holdings in Norfolk Southern were worth $3,021,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Vanguard Group Inc. increased its holdings in Norfolk Southern by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 20,825,837 shares of the railroad operator’s stock valued at $6,012,836,000 after purchasing an additional 272,651 shares during the last quarter. State Street Corp lifted its stake in Norfolk Southern by 4.1% during the fourth quarter. State Street Corp now owns 9,710,549 shares of the railroad operator’s stock worth $2,803,630,000 after purchasing an additional 379,819 shares in the last quarter. Geode Capital Management LLC lifted its stake in Norfolk Southern by 0.7% during the fourth quarter. Geode Capital Management LLC now owns 4,878,029 shares of the railroad operator’s stock worth $1,401,797,000 after purchasing an additional 36,205 shares in the last quarter. Norges Bank purchased a new position in shares of Norfolk Southern during the fourth quarter worth $1,084,701,000. Finally, Pentwater Capital Management LP boosted its position in shares of Norfolk Southern by 9.8% during the fourth quarter. Pentwater Capital Management LP now owns 3,019,000 shares of the railroad operator’s stock worth $871,646,000 after buying an additional 269,000 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

NSC has been the topic of several research analyst reports. Evercore set a $358.00 price objective on Norfolk Southern in a report on Thursday, July 23rd. Wolfe Research lifted their target price on Norfolk Southern from $350.00 to $355.00 and gave the company an “outperform” rating in a research report on Tuesday, April 7th. BMO Capital Markets lifted their target price on Norfolk Southern from $310.00 to $355.00 and gave the company a “market perform” rating in a research report on Monday. UBS Group reiterated a “neutral” rating and set a $363.00 price target on shares of Norfolk Southern in a research note on Friday. Finally, Jefferies Financial Group reduced their price target on shares of Norfolk Southern from $350.00 to $310.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Seven investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $348.00.

Norfolk Southern Stock Down 1.2%

Norfolk Southern stock opened at $339.18 on Wednesday. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $358.60. The stock’s fifty day simple moving average is $318.25 and its 200-day simple moving average is $307.05. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98. The firm has a market capitalization of $76.18 billion, a P/E ratio of 28.94, a P/E/G ratio of 6.11 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.32 by $0.20. The business had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same period last year, the firm earned $3.29 earnings per share. As a group, equities analysts expect that Norfolk Southern Corporation will post 12.6 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Shareholders of record on Friday, August 7th will be given a $1.35 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. Norfolk Southern’s dividend payout ratio (DPR) is currently 46.08%.

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.