Van ECK Associates Corp Acquires 7,206 Shares of Norfolk Southern Corporation $NSC

Van ECK Associates Corp boosted its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 12.5% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 65,069 shares of the railroad operator’s stock after purchasing an additional 7,206 shares during the period. Van ECK Associates Corp’s holdings in Norfolk Southern were worth $19,547,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. ORG Partners LLC grew its stake in shares of Norfolk Southern by 75.0% in the 3rd quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock valued at $25,000 after purchasing an additional 36 shares during the period. Westside Investment Management Inc. lifted its position in shares of Norfolk Southern by 207.1% during the 3rd quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock worth $26,000 after buying an additional 58 shares during the period. MMA Asset Management LLC acquired a new stake in Norfolk Southern in the 3rd quarter valued at $28,000. BNP Paribas bought a new stake in Norfolk Southern in the second quarter valued at $26,000. Finally, Highline Wealth Partners LLC grew its position in Norfolk Southern by 68.9% in the third quarter. Highline Wealth Partners LLC now owns 103 shares of the railroad operator’s stock valued at $31,000 after acquiring an additional 42 shares during the period. 75.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on NSC shares. Deutsche Bank Aktiengesellschaft cut Norfolk Southern from a “buy” rating to a “hold” rating and cut their price objective for the company from $354.00 to $297.00 in a report on Thursday, December 11th. Argus upgraded shares of Norfolk Southern to a “hold” rating in a research report on Wednesday, February 25th. Rothschild & Co Redburn lifted their price target on shares of Norfolk Southern from $299.00 to $317.00 and gave the company a “neutral” rating in a report on Wednesday, March 4th. Weiss Ratings restated a “hold (c+)” rating on shares of Norfolk Southern in a research report on Thursday, January 22nd. Finally, Benchmark reaffirmed a “hold” rating on shares of Norfolk Southern in a report on Friday, January 30th. Seven investment analysts have rated the stock with a Buy rating and eighteen have issued a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average price target of $308.95.

Norfolk Southern Price Performance

NYSE NSC traded down $1.74 on Friday, hitting $289.52. 91,553 shares of the company were exchanged, compared to its average volume of 1,262,844. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $319.94. The firm has a 50 day moving average of $300.71 and a two-hundred day moving average of $291.91. The company has a current ratio of 0.85, a quick ratio of 0.78 and a debt-to-equity ratio of 1.06. The company has a market cap of $65.02 billion, a P/E ratio of 22.71, a P/E/G ratio of 5.37 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.46. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.03 billion. During the same quarter last year, the company posted $3.04 EPS. The company’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, equities analysts predict that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.9%. The ex-dividend date was Friday, February 6th. Norfolk Southern’s payout ratio is 42.35%.

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.