Norfolk Southern Corporation $NSC Stock: International Assets Investment Management LLC Boosts Stake

International Assets Investment Management LLC boosted its position in Norfolk Southern Corporation (NYSE:NSC) by 6,659.1% during the third quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 122,339 shares of the railroad operator’s stock after buying an additional 120,529 shares during the quarter. International Assets Investment Management LLC owned approximately 0.05% of Norfolk Southern worth $37,803,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Edmond DE Rothschild Holding S.A. bought a new stake in Norfolk Southern during the second quarter worth about $26,000. Meeder Asset Management Inc. acquired a new position in Norfolk Southern during the second quarter valued at approximately $27,000. Elevation Wealth Partners LLC boosted its position in Norfolk Southern by 2,125.0% during the third quarter. Elevation Wealth Partners LLC now owns 89 shares of the railroad operator’s stock valued at $28,000 after purchasing an additional 85 shares during the last quarter. North Point Portfolio Managers Corp OH bought a new position in Norfolk Southern in the third quarter valued at approximately $28,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new position in shares of Norfolk Southern during the 2nd quarter worth approximately $31,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Up 0.1%

NSC stock opened at $342.55 on Friday. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.81. The stock has a market capitalization of $76.94 billion, a price-to-earnings ratio of 28.71, a PEG ratio of 5.12 and a beta of 1.29. The business’s fifty day moving average price is $326.36 and its two-hundred day moving average price is $314.88. Norfolk Southern Corporation has a fifty-two week low of $277.80 and a fifty-two week high of $358.60.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, October 22nd. The railroad operator reported $3.62 earnings per share for the quarter, topping analysts’ consensus estimates of $3.46 by $0.16. Norfolk Southern had a return on equity of 18.22% and a net margin of 20.70%. The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.48 billion. During the same quarter last year, the firm earned $3.30 earnings per share. The company’s revenue was up 13.6% on a year-over-year basis. On average, equities analysts anticipate that Norfolk Southern Corporation will post 12.80 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, November 6th. Norfolk Southern’s payout ratio is presently 45.26%.

Wall Street Analyst Weigh In

A number of equities research analysts have recently issued reports on the company. Royal Bank Of Canada upped their price objective on Norfolk Southern from $330.00 to $350.00 and gave the stock a “sector perform” rating in a research note on Friday, October 23rd. TD Cowen raised their target price on shares of Norfolk Southern from $376.00 to $379.00 and gave the company a “buy” rating in a research note on Friday, October 23rd. Barclays raised their target price on shares of Norfolk Southern from $360.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. UBS Group restated a “neutral” rating on shares of Norfolk Southern in a report on Monday. Finally, JPMorgan Chase & Co. increased their price target on shares of Norfolk Southern from $318.00 to $323.00 and gave the company a “neutral” rating in a research note on Friday, October 23rd. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $348.81.

Norfolk Southern Profile

Norfolk Southern Corporation (NYSE:NSC) is a transportation company that operates one of the largest freight railroad networks in the eastern United States. Through its Norfolk Southern Railway subsidiary, the company provides rail transportation and related services across a broad territory spanning portions of the Midwest, South and East Coast, including access to major industrial centers, ports and distribution markets.

Norfolk Southern transports a diverse range of commodities, including intermodal freight, merchandise, automotive products, coal and other energy-related materials.