Erste Asset Management GmbH Has $1.32 Million Stock Position in Norfolk Southern Corporation $NSC

Erste Asset Management GmbH grew its position in Norfolk Southern Corporation (NYSE:NSC) by 161.1% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 4,504 shares of the railroad operator’s stock after buying an additional 2,779 shares during the quarter. Erste Asset Management GmbH’s holdings in Norfolk Southern were worth $1,315,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. boosted its holdings in shares of Norfolk Southern by 1.3% in the fourth quarter. Vanguard Group Inc. now owns 20,825,837 shares of the railroad operator’s stock worth $6,012,836,000 after buying an additional 272,651 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Norfolk Southern by 0.7% in the fourth quarter. Geode Capital Management LLC now owns 4,878,029 shares of the railroad operator’s stock worth $1,401,797,000 after buying an additional 36,205 shares during the period. Norges Bank acquired a new position in shares of Norfolk Southern in the fourth quarter worth about $1,084,701,000. Pentwater Capital Management LP acquired a new position in shares of Norfolk Southern in the third quarter worth about $826,128,000. Finally, Dimensional Fund Advisors LP boosted its holdings in shares of Norfolk Southern by 5.8% in the third quarter. Dimensional Fund Advisors LP now owns 2,179,610 shares of the railroad operator’s stock worth $654,757,000 after buying an additional 118,697 shares during the period. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Performance

NSC stock opened at $309.23 on Thursday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91. The stock has a market cap of $69.45 billion, a P/E ratio of 26.05, a P/E/G ratio of 5.77 and a beta of 1.27. The firm has a 50 day simple moving average of $307.35 and a 200 day simple moving average of $299.82. Norfolk Southern Corporation has a 52 week low of $247.85 and a 52 week high of $326.00.

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

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, May 8th. Norfolk Southern’s dividend payout ratio (DPR) is currently 45.49%.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Citigroup reiterated a “neutral” rating on shares of Norfolk Southern in a report on Friday, April 24th. Royal Bank Of Canada raised their target price on shares of Norfolk Southern from $310.00 to $360.00 and gave the stock a “sector perform” rating in a report on Friday, April 24th. Argus upgraded shares of Norfolk Southern to a “hold” rating in a report on Wednesday, February 25th. Weiss Ratings cut shares of Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, April 27th. Finally, Robert W. Baird raised their price target on shares of Norfolk Southern from $315.00 to $330.00 and gave the stock a “neutral” rating in a report on Tuesday, April 28th. Six equities research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $322.71.

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.