Mint Tower Capital Management B.V. Boosts Holdings in Norfolk Southern Corporation $NSC

Mint Tower Capital Management B.V. boosted its position in Norfolk Southern Corporation (NYSE:NSC) by 13.3% during the fourth quarter, HoldingsChannel.com reports. The institutional investor owned 17,000 shares of the railroad operator’s stock after buying an additional 2,000 shares during the period. Norfolk Southern makes up approximately 0.6% of Mint Tower Capital Management B.V.’s portfolio, making the stock its 25th largest holding. Mint Tower Capital Management B.V.’s holdings in Norfolk Southern were worth $4,908,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Picton Mahoney Asset Management purchased a new stake in Norfolk Southern in the 3rd quarter valued at approximately $24,033,000. Primecap Management Co. CA boosted its holdings in Norfolk Southern by 7.9% in the 3rd quarter. Primecap Management Co. CA now owns 1,132,583 shares of the railroad operator’s stock valued at $340,239,000 after purchasing an additional 82,500 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in Norfolk Southern by 9.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock valued at $12,533,000 after purchasing an additional 3,887 shares in the last quarter. NEOS Investment Management LLC boosted its holdings in Norfolk Southern by 47.0% in the 3rd quarter. NEOS Investment Management LLC now owns 25,298 shares of the railroad operator’s stock valued at $7,600,000 after purchasing an additional 8,090 shares in the last quarter. Finally, Elo Mutual Pension Insurance Co boosted its holdings in Norfolk Southern by 11.7% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 15,143 shares of the railroad operator’s stock valued at $4,549,000 after purchasing an additional 1,587 shares in the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. JPMorgan Chase & Co. decreased their target price on shares of Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating on the stock in a research report on Tuesday, April 7th. Susquehanna boosted their target price on shares of Norfolk Southern from $330.00 to $337.00 and gave the stock a “neutral” rating in a research report on Friday, June 5th. Barclays boosted their target price on shares of Norfolk Southern from $320.00 to $360.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Weiss Ratings lowered shares of Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, April 27th. Finally, Jefferies Financial Group decreased their target price on shares of Norfolk Southern from $350.00 to $310.00 and set a “hold” rating on the stock in a research report on Monday, April 6th. Six analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. According to MarketBeat.com, Norfolk Southern currently has a consensus rating of “Hold” and an average price target of $322.71.

Norfolk Southern Price Performance

NSC stock opened at $310.43 on Friday. Norfolk Southern Corporation has a 1 year low of $247.85 and a 1 year 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. The stock’s 50 day moving average price is $307.81 and its 200 day moving average price is $299.99. The firm has a market cap of $69.72 billion, a P/E ratio of 26.15, a PEG ratio of 5.71 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter in the prior year, the company earned $2.69 EPS. Norfolk Southern’s revenue was up .2% on a year-over-year basis. On average, sell-side analysts expect that Norfolk Southern Corporation will post 12.11 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, May 8th. Norfolk Southern’s dividend payout ratio is 45.49%.

About Norfolk Southern

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.