OMERS ADMINISTRATION Corp Invests $52.81 Million in Norfolk Southern Corporation $NSC

OMERS ADMINISTRATION Corp purchased a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) in the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 167,860 shares of the railroad operator’s stock, valued at approximately $52,807,000. OMERS ADMINISTRATION Corp owned approximately 0.07% of Norfolk Southern as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently modified their holdings of NSC. Brighton Jones LLC increased its stake in shares of Norfolk Southern by 4.9% during the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after buying an additional 79 shares during the period. Intech Investment Management LLC lifted its stake in Norfolk Southern by 40.4% in the first quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock worth $1,527,000 after acquiring an additional 1,855 shares during the period. Sivia Capital Partners LLC bought a new position in Norfolk Southern during the 2nd quarter worth about $327,000. Schnieders Capital Management LLC. grew its holdings in Norfolk Southern by 64.1% during the 2nd quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock worth $1,094,000 after acquiring an additional 1,670 shares in the last quarter. Finally, Jump Financial LLC increased its position in Norfolk Southern by 185.1% during the 2nd quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator’s stock valued at $1,174,000 after purchasing an additional 2,979 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

NSC has been the subject of several recent research reports. UBS Group restated a “neutral” rating and issued a $363.00 price target on shares of Norfolk Southern in a report on Friday, July 24th. Rothschild & Co Redburn boosted their price objective on shares of Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Benchmark restated a “hold” rating on shares of Norfolk Southern in a report on Friday, July 24th. Evercore set a $358.00 target price on Norfolk Southern in a research report on Thursday, July 23rd. Finally, Susquehanna lifted their price target on Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, Norfolk Southern has an average rating of “Hold” and an average target price of $348.00.

Norfolk Southern Trading Up 0.0%

NYSE NSC opened at $350.77 on Monday. Norfolk Southern Corporation has a 52 week low of $268.23 and a 52 week high of $358.60. The company has a 50 day moving average price of $328.23 and a 200 day moving average price of $313.47. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. The firm has a market cap of $78.79 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 6.21 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, beating the consensus estimate of $3.32 by $0.20. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The company had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period last year, the firm earned $3.29 earnings per share. Norfolk Southern’s revenue was up 12.5% compared to the same quarter last year. As a group, sell-side analysts forecast that Norfolk Southern Corporation will post 12.66 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.5%. The ex-dividend date was Friday, August 7th. Norfolk Southern’s dividend payout ratio is currently 46.08%.

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.