Virtu Financial LLC increased its holdings in shares of Norfolk Southern Corporation (NYSE:NSC – Free Report) by 293.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 9,624 shares of the railroad operator’s stock after buying an additional 7,179 shares during the quarter. Virtu Financial LLC’s holdings in Norfolk Southern were worth $2,778,000 as of its most recent filing with the Securities and Exchange Commission (SEC).
Several other hedge funds also recently added to or reduced their stakes in the business. Picton Mahoney Asset Management acquired a new stake in Norfolk Southern in the 3rd quarter valued at $24,033,000. Primecap Management Co. CA raised its position in Norfolk Southern by 7.9% during the third quarter. Primecap Management Co. CA now owns 1,132,583 shares of the railroad operator’s stock worth $340,239,000 after acquiring an additional 82,500 shares during the period. O Shaughnessy Asset Management LLC raised its position in Norfolk Southern by 9.8% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock worth $12,533,000 after acquiring an additional 3,887 shares during the period. NEOS Investment Management LLC raised its position in Norfolk Southern by 47.0% during the third quarter. NEOS Investment Management LLC now owns 25,298 shares of the railroad operator’s stock worth $7,600,000 after acquiring an additional 8,090 shares during the period. Finally, Elo Mutual Pension Insurance Co lifted its holdings in Norfolk Southern by 11.7% during the third quarter. Elo Mutual Pension Insurance Co now owns 15,143 shares of the railroad operator’s stock valued at $4,549,000 after purchasing an additional 1,587 shares in the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.
Norfolk Southern Trading Down 0.2%
Shares of NSC opened at $299.81 on Friday. Norfolk Southern Corporation has a 52-week low of $251.62 and a 52-week high of $326.00. The stock has a market cap of $67.33 billion, a PE ratio of 25.26, a price-to-earnings-growth ratio of 5.55 and a beta of 1.27. The firm’s fifty day moving average is $309.71 and its two-hundred day moving average is $300.62. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04.
Norfolk Southern Announces Dividend
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were issued a $1.35 dividend. The ex-dividend date was Friday, May 8th. This represents a $5.40 dividend on an annualized basis and a yield of 1.8%. Norfolk Southern’s dividend payout ratio is presently 45.49%.
Wall Street Analyst Weigh In
A number of research firms have recently commented on NSC. TD Cowen boosted their target price on shares of Norfolk Southern from $313.00 to $337.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Susquehanna raised their price target on shares of Norfolk Southern from $330.00 to $337.00 and gave the company a “neutral” rating in a research note on Friday, June 5th. Jefferies Financial Group decreased their price target on shares of Norfolk Southern from $350.00 to $310.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Citigroup reiterated a “neutral” rating on shares of Norfolk Southern in a report on Friday, April 24th. Finally, Zacks Research upgraded Norfolk Southern from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Six investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $322.71.
View Our Latest 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.
Read More
- Five stocks we like better than Norfolk Southern
- Credo Technologies Accelerates AI—Its Stock Price Will Follow
- Qualcomm Goes All-In: The $10B Bet to Crush NVIDIA
- Jabil Just Gave Investors a Stronger Reason to Buy the Dip
- CarMax In Reverse? Why You Should Buy Now Before the Big Catalysts Emerge
Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Southern Corporation (NYSE:NSC – Free Report).
Receive News & Ratings for Norfolk Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norfolk Southern and related companies with MarketBeat.com's FREE daily email newsletter.
