10 Best Logistics Stocks to Buy Now

4. Norfolk Southern Corporation (NYSE:NSC)

Number of Hedge Fund Holders: 54

Value of Hedge Fund Holdings: $1,997,845,000

Norfolk Southern Corporation (NYSE:NSC) is dedicated to safely transporting goods and materials vital to the US economy. Currently, Norfolk Southern Corporation (NYSE:NSC) manages a freight transportation network that spans 19,000 route miles.

As of March 2024, the company generated $3 billion in revenue and reported a net income of $53 million. Meanwhile, the reported EPS of $3.29, surpassed the estimates of $2.53. Norfolk Southern Corporation (NYSE:NSC) has a 1-year return of 4.57% and a 5-year return of 26.75%.

In recent analyst assessments, the 12-month price targets for Norfolk Southern Corporation (NYSE:NSC) averaged $274.2, with estimates ranging from a low of $241 to a high of $300. This new average target represents an over 20% upside potential from the last closing price, highlighting a bullish outlook on the stock.

Here’s what The London Company said about Norfolk Southern Corporation (NYSE:NSC) in its Q3 2024 investor letter:

Norfolk Southern Corporation (NYSE:NSC) – NSC underperformed during Q3 as the East Palestine, Ohio derailment has been a disruption for the company in terms of time and money. That said, the rail improved service levels during the quarter and has some tailwinds behind it, including industrial on-shoring pricing relative to truck, disruption in the freight market from Yellow and UPS, and continued service level improvement.”

According to the Q1 2024 database, 54 hedge funds reported owning a stake in Norfolk Southern Corporation (NYSE:NSC), compared to 50 funds in the prior quarter. Norfolk Southern Corporation (NYSE:NSC) is among the top 5 best logistics stocks to buy now.