Norfolk Southern Corporation $NSC Shares Purchased by Mirae Asset Global Investments Co. Ltd.

Key Points

• Mirae Asset Global Investments increased its stake in Norfolk Southern by 20.5% in Q4, buying 5,997 shares to hold 35,225 shares valued at about $10.17 million.
• Norfolk Southern beat Q4 EPS ($3.22 vs. $2.76 est.) even as revenue fell 1.7% year-over-year, and it recently paid a $1.35 quarterly dividend (annualized $5.40, ~1.8% yield).
• The stock trades near $302 with a market cap of $74.04 billion and a P/E of 23.7; analysts’ consensus is a "Hold" rating with an average price target of $308.78, and institutions own about 75.1% of the shares.

Mirae Asset Global Investments Co. Ltd. boosted its holdings in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 20.5% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 35,225 shares of the railroad operator's stock after purchasing an additional 5,997 shares during the quarter. Mirae Asset Global Investments Co. Ltd.'s holdings in Norfolk Southern were worth $10,170,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NSC. Brighton Jones LLC boosted its holdings in shares of Norfolk Southern by 4.9% during the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator's stock valued at $400,000 after acquiring an additional 79 shares during the period. Intech Investment Management LLC boosted its holdings in shares of Norfolk Southern by 40.4% during the first quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator's stock valued at $1,527,000 after acquiring an additional 1,855 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Norfolk Southern during the second quarter valued at $327,000. Schnieders Capital Management LLC. boosted its holdings in shares of Norfolk Southern by 64.1% during the second quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator's stock valued at $1,094,000 after acquiring an additional 1,670 shares during the period. Finally, Jump Financial LLC boosted its holdings in shares of Norfolk Southern by 185.1% during the second quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator's stock valued at $1,174,000 after acquiring an additional 2,979 shares during the period. Institutional investors and hedge funds own 75.10% of the company's stock.

Norfolk Southern Stock Performance

NSC stock opened at $302.43 on Monday. The company has a market capitalization of $74.04 billion, a P/E ratio of 23.72, a PEG ratio of 5.57 and a beta of 1.31. The company has a 50-day simple moving average of $300.06 and a 200 day simple moving average of $293.31. Norfolk Southern Corporation has a fifty-two week low of $214.78 and a fifty-two week high of $319.94. The company has a quick ratio of 0.78, a current ratio of 0.85 and a debt-to-equity ratio of 1.06.

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

Norfolk Southern Announces Dividend

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

Wall Street Analysts Forecast Growth

Several brokerages have recently issued reports on NSC. Susquehanna boosted their price target on shares of Norfolk Southern from $304.00 to $305.00 and gave the company a "neutral" rating in a report on Friday, January 30th. Robert W. Baird boosted their price target on shares of Norfolk Southern from $288.00 to $315.00 and gave the company a "neutral" rating in a report on Friday, March 6th. Royal Bank Of Canada reduced their price target on shares of Norfolk Southern from $320.00 to $310.00 and set a "sector perform" rating for the company in a report on Thursday, March 26th. UBS Group downgraded shares of Norfolk Southern from a "buy" rating to a "neutral" rating and set a $342.00 price target for the company. in a report on Friday, February 6th. Finally, Sanford C. Bernstein reduced their price objective on shares of Norfolk Southern from $322.00 to $313.00 and set an "outperform" rating for the company in a report on Tuesday, March 31st. Seven investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company's stock. Based on data from MarketBeat, Norfolk Southern has an average rating of "Hold" and a consensus price target of $308.78.

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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