Korea Investment CORP Boosts Holdings in Norfolk Southern Corporation $NSC

Key Points

• Korea Investment CORP increased its stake in Norfolk Southern by 14.0% in Q3, buying 21,696 shares to own 176,932 shares worth about $53.15 million (≈0.08% of the company).
• Norfolk Southern reported $3.22 EPS for the quarter (vs. $2.76 consensus) on $3.0B revenue (slightly below estimates), pays a $1.35 quarterly dividend ($5.40 annual, 1.8% yield), and trades near $303 with a $68.05B market cap.
• Analyst sentiment is mixed-to-neutral (seven Buys, eighteen Holds) with a consensus target of about $308.95, and roughly 75% of the stock is held by institutional investors and hedge funds.

Korea Investment CORP lifted its holdings in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 14.0% in the third quarter, according to its most recent disclosure with the SEC. The institutional investor owned 176,932 shares of the railroad operator's stock after purchasing an additional 21,696 shares during the period. Korea Investment CORP owned approximately 0.08% of Norfolk Southern worth $53,152,000 at the end of the most recent reporting period.

A number of other hedge funds also recently added to or reduced their stakes in NSC. ORG Partners LLC boosted its position in Norfolk Southern by 75.0% in the 3rd quarter. ORG Partners LLC now owns 84 shares of the railroad operator's stock valued at $25,000 after buying an additional 36 shares during the period. Westside Investment Management Inc. increased its position in shares of Norfolk Southern by 207.1% during the third quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator's stock worth $26,000 after acquiring an additional 58 shares during the period. BNP Paribas acquired a new stake in shares of Norfolk Southern in the second quarter valued at $26,000. True Wealth Design LLC raised its stake in shares of Norfolk Southern by 423.8% in the second quarter. True Wealth Design LLC now owns 110 shares of the railroad operator's stock valued at $28,000 after acquiring an additional 89 shares in the last quarter. Finally, MMA Asset Management LLC purchased a new position in Norfolk Southern in the third quarter valued at $28,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $303.02 on Monday. The stock's 50-day moving average is $300.10 and its two-hundred day moving average is $291.64. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.78 and a current ratio of 0.85. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $319.94. The firm has a market cap of $68.05 billion, a price-to-earnings ratio of 23.77, a PEG ratio of 5.47 and a beta of 1.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, beating the consensus estimate of $2.76 by $0.46. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.03 billion. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The business's quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the previous year, the business earned $3.04 EPS. Analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were paid a $1.35 dividend. The ex-dividend date was Friday, February 6th. This represents a $5.40 dividend on an annualized basis and a yield of 1.8%. Norfolk Southern's payout ratio is currently 42.35%.

Wall Street Analysts Forecast Growth

Several research analysts recently commented on NSC shares. Rothschild & Co Redburn boosted their target price on Norfolk Southern from $299.00 to $317.00 and gave the stock a "neutral" rating in a research note on Wednesday, March 4th. Morgan Stanley upgraded Norfolk Southern from an "equal weight" rating to a "buy" rating in a research note on Thursday, December 18th. Robert W. Baird boosted their price objective on Norfolk Southern from $288.00 to $315.00 and gave the stock a "neutral" rating in a research report on Friday. UBS Group lowered shares of Norfolk Southern from a "buy" rating to a "neutral" rating and set a $342.00 target price on the stock. in a research note on Friday, February 6th. Finally, Evercore raised their target price on shares of Norfolk Southern from $298.00 to $299.00 in a report on Thursday, December 18th. Seven research analysts have rated the stock with a Buy rating and eighteen have given a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $308.95.

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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