MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Buys 201,033 Shares of Norfolk Southern Corporation $NSC

by · The Cerbat Gem

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of Norfolk Southern Corporation (NYSE:NSC – Free Report) by 20.6% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,175,226 shares of the railroad operator’s stock after acquiring an additional 201,033 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. owned approximately 0.52% of Norfolk Southern worth $278,345,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Brighton Jones LLC lifted its stake in shares of Norfolk Southern by 4.9% in the 4th 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 last quarter. Ameriprise Financial Inc. grew its holdings in Norfolk Southern by 12.8% during the 4th quarter. Ameriprise Financial Inc. now owns 458,872 shares of the railroad operator’s stock worth $107,696,000 after acquiring an additional 52,040 shares during the period. Benjamin Edwards Inc. grew its holdings in Norfolk Southern by 5.5% during the 4th quarter. Benjamin Edwards Inc. now owns 5,716 shares of the railroad operator’s stock worth $1,342,000 after acquiring an additional 300 shares during the period. Bayesian Capital Management LP acquired a new stake in Norfolk Southern during the 4th quarter worth about $352,000. Finally, Centiva Capital LP acquired a new stake in Norfolk Southern during the 4th quarter worth about $747,000. Institutional investors own 75.10% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the stock. UBS Group upped their price objective on shares of Norfolk Southern from $275.00 to $279.00 and gave the stock a “buy” rating in a report on Friday, May 30th. Benchmark lowered Norfolk Southern from a “buy” rating to a “hold” rating in a report on Wednesday, July 30th. Royal Bank Of Canada lowered Norfolk Southern from a “moderate buy” rating to a “hold” rating in a report on Tuesday, July 29th. Evercore ISI restated an “in-line” rating and issued a $289.00 target price (up previously from $279.00) on shares of Norfolk Southern in a report on Wednesday, July 30th. Finally, Baird R W upgraded Norfolk Southern to a “hold” rating in a report on Tuesday, July 1st. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $285.15.

Check Out Our Latest Stock Report on Norfolk Southern

Norfolk Southern Price Performance

NSC opened at $279.88 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.71 and a current ratio of 0.79. The firm has a market cap of $62.87 billion, a P/E ratio of 18.91, a PEG ratio of 2.47 and a beta of 1.29. The firm has a 50-day moving average of $274.41 and a 200 day moving average of $249.23. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $291.69.

Norfolk Southern (NYSE:NSC – Get Free Report) last issued its earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $0.05. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.10 billion. Norfolk Southern had a return on equity of 19.35% and a net margin of 27.51%. Norfolk Southern has set its FY 2025 guidance at EPS. On average, research analysts expect that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, August 20th. Shareholders of record on Friday, August 1st were paid a $1.35 dividend. The ex-dividend date was Friday, August 1st. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. Norfolk Southern’s payout ratio is presently 36.49%.

Norfolk Southern Company Profile

(Free Report)

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.

Read More

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).