OP Asset Management Ltd Invests $6.55 Million in Norfolk Southern Corporation $NSC

OP Asset Management Ltd purchased a new position in shares of Norfolk Southern Corporation (NYSE:NSC) in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor purchased 22,831 shares of the railroad operator’s stock, valued at approximately $6,552,000.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. JPL Wealth Management LLC acquired a new position in shares of Norfolk Southern during the third quarter valued at approximately $25,000. BNP Paribas acquired a new stake in shares of Norfolk Southern in the second quarter worth approximately $26,000. GoalVest Advisory LLC increased its position in shares of Norfolk Southern by 933.3% during the fourth quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock worth $27,000 after purchasing an additional 84 shares in the last quarter. Meeder Asset Management Inc. raised its stake in Norfolk Southern by 239.3% in the 4th quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock valued at $27,000 after purchasing an additional 67 shares during the last quarter. Finally, FNY Investment Advisers LLC raised its stake in Norfolk Southern by 669.2% in the 3rd quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator’s stock valued at $30,000 after purchasing an additional 87 shares during the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Price Performance

Shares of NSC stock opened at $311.52 on Friday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. The company has a market capitalization of $69.96 billion, a PE ratio of 26.24, a price-to-earnings-growth ratio of 5.61 and a beta of 1.27. The firm’s 50-day moving average is $310.49 and its two-hundred day moving average is $301.02. Norfolk Southern Corporation has a 12 month low of $252.54 and a 12 month high of $326.00.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.16. The business had revenue of $3 billion during the quarter, compared to analysts’ expectations 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 for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.69 EPS. Analysts predict that Norfolk Southern Corporation will post 12.12 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, May 8th. Norfolk Southern’s dividend payout ratio is presently 45.49%.

Wall Street Analyst Weigh In

Several equities research analysts have issued reports on NSC shares. Royal Bank Of Canada lowered their target price on shares of Norfolk Southern from $360.00 to $320.00 and set a “sector perform” rating on the stock in a research note on Wednesday. Evercore set a $325.00 target price on shares of Norfolk Southern in a research report on Friday, April 24th. Weiss Ratings downgraded shares of Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, April 27th. Citigroup reaffirmed a “neutral” rating on shares of Norfolk Southern in a research note on Friday, April 24th. Finally, Wolfe Research increased their price objective on shares of Norfolk Southern from $350.00 to $355.00 and gave the company an “outperform” rating in a report on Tuesday, April 7th. Six investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $320.35.

About Norfolk Southern

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.