Norfolk Southern Corporation $NSC Stock Position Raised by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its position in Norfolk Southern Corporation (NYSE:NSC) by 57.0% in the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 57,600 shares of the railroad operator’s stock after buying an additional 20,904 shares during the quarter. CIBC Asset Management Inc’s holdings in Norfolk Southern were worth $16,630,000 as of its most recent filing with the SEC.

Other hedge funds have also recently added to or reduced their stakes in the company. Marble Wealth LLC acquired a new position in shares of Norfolk Southern during the 4th quarter worth $930,000. Pincus Capital Management LP acquired a new stake in shares of Norfolk Southern in the 4th quarter valued at $1,011,000. Heritage Trust Co lifted its stake in shares of Norfolk Southern by 41.5% in the 4th quarter. Heritage Trust Co now owns 7,485 shares of the railroad operator’s stock valued at $2,161,000 after purchasing an additional 2,195 shares during the last quarter. Beto Financial Group LLC bought a new stake in Norfolk Southern in the fourth quarter worth $283,000. Finally, Root Financial Partners LLC boosted its holdings in Norfolk Southern by 5.7% in the fourth quarter. Root Financial Partners LLC now owns 1,006 shares of the railroad operator’s stock worth $290,000 after purchasing an additional 54 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Analysts Set New Price Targets

Several research firms have weighed in on NSC. Susquehanna raised their target price on Norfolk Southern from $305.00 to $330.00 and gave the company a “neutral” rating in a report on Wednesday, April 22nd. Weiss Ratings downgraded Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, April 27th. Argus raised Norfolk Southern to a “hold” rating in a report on Wednesday, February 25th. Jefferies Financial Group cut their price objective on Norfolk Southern from $350.00 to $310.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Finally, Wolfe Research upped their target price on Norfolk Southern from $350.00 to $355.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 7th. Six analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. Based on data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus price target of $322.29.

Norfolk Southern Trading Up 0.7%

Shares of NYSE:NSC opened at $307.22 on Friday. The company has a market cap of $69.00 billion, a P/E ratio of 25.88, a P/E/G ratio of 5.64 and a beta of 1.27. The stock’s 50-day moving average is $305.08 and its 200-day moving average is $298.97. Norfolk Southern Corporation has a 52-week low of $245.19 and a 52-week high of $326.00. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter in the previous year, the firm earned $2.69 EPS. The firm’s revenue was up .2% compared to the same quarter last year. Equities research analysts predict that Norfolk Southern Corporation will post 12.11 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were issued a dividend of $1.35 per share. The ex-dividend date was Friday, May 8th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.8%. Norfolk Southern’s payout ratio is 45.49%.

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.