Vise Technologies Inc. bought a new stake in Norfolk Southern Corporation (NYSE:NSC – Free Report) during the 2nd quarter, HoldingsChannel reports. The fund bought 9,543 shares of the railroad operator’s stock, valued at approximately $3,002,000.
Other institutional investors have also added to or reduced their stakes in the company. Louisiana State Employees Retirement System acquired a new position in Norfolk Southern during the first quarter worth about $3,272,000. O Shaughnessy Asset Management LLC boosted its position in Norfolk Southern by 9.8% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock worth $12,533,000 after buying an additional 3,887 shares during the period. SCS Capital Management LLC bought a new stake in Norfolk Southern during the 2nd quarter worth approximately $13,837,000. Focus Partners Advisor Solutions LLC bought a new stake in Norfolk Southern during the 2nd quarter worth approximately $1,376,000. Finally, GABELLI & Co INVESTMENT ADVISERS INC. increased its position in Norfolk Southern by 49.3% in the 4th quarter. GABELLI & Co INVESTMENT ADVISERS INC. now owns 50,620 shares of the railroad operator’s stock valued at $14,615,000 after acquiring an additional 16,720 shares during the period. 75.10% of the stock is currently owned by institutional investors and hedge funds.
Norfolk Southern Trading Up 1.2%
NSC opened at $350.77 on Friday. The company has a fifty day moving average price of $328.23 and a two-hundred day moving average price of $313.31. Norfolk Southern Corporation has a 1-year low of $268.23 and a 1-year high of $358.60. The company has a market cap of $78.79 billion, a P/E ratio of 29.93, a price-to-earnings-growth ratio of 6.14 and a beta of 1.27. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98.
Norfolk Southern Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, August 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.08%.
Wall Street Analysts Forecast Growth
A number of research firms recently weighed in on NSC. 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 report on Thursday, July 23rd. Wall Street Zen upgraded Norfolk Southern from a “sell” rating to a “hold” rating in a research report on Saturday, May 2nd. TD Cowen increased their price target on Norfolk Southern from $337.00 to $376.00 and gave the company a “buy” rating in a research note on Friday, July 24th. Finally, Robert W. Baird raised their price objective on Norfolk Southern from $360.00 to $377.00 and gave the stock a “neutral” rating in a research report on Monday, July 27th. Seven analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $348.00.
View Our Latest Research Report on Norfolk Southern
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.
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