Asset Management One Co. Ltd. Boosts Position in Norfolk Southern Co. (NYSE:NSC)

Asset Management One Co. Ltd. boosted its position in Norfolk Southern Co. (NYSE:NSC) by 2.0% during the 3rd quarter, HoldingsChannel reports. The firm owned 85,174 shares of the railroad operator’s stock after purchasing an additional 1,710 shares during the period. Asset Management One Co. Ltd.’s holdings in Norfolk Southern were worth $21,166,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its position in Norfolk Southern by 20.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock valued at $3,556,000 after buying an additional 2,453 shares during the period. Pathway Financial Advisers LLC grew its position in shares of Norfolk Southern by 25,181.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after acquiring an additional 889,925 shares during the period. Seven Eight Capital LP purchased a new stake in shares of Norfolk Southern in the 2nd quarter worth $1,676,000. Dakota Wealth Management raised its holdings in Norfolk Southern by 2.1% in the 3rd quarter. Dakota Wealth Management now owns 7,206 shares of the railroad operator’s stock worth $1,791,000 after purchasing an additional 150 shares during the period. Finally, Manning & Napier Advisors LLC purchased a new position in Norfolk Southern during the second quarter valued at $13,627,000. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Price Performance

NSC stock opened at $252.17 on Wednesday. The company has a fifty day simple moving average of $250.55 and a two-hundred day simple moving average of $237.17. Norfolk Southern Co. has a 52 week low of $192.53 and a 52 week high of $263.66. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. The firm has a market capitalization of $57.05 billion, a P/E ratio of 23.68, a price-to-earnings-growth ratio of 2.37 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, topping the consensus estimate of $3.11 by $0.14. The company had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The firm’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.65 earnings per share. Analysts anticipate that Norfolk Southern Co. will post 11.82 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.14%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is 50.70%.

Wall Street Analysts Forecast Growth

A number of analysts have commented on NSC shares. Benchmark upped their price target on Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Evercore ISI decreased their target price on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Sanford C. Bernstein lifted their price target on shares of Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. TD Cowen increased their price objective on shares of Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. Finally, Barclays lifted their target price on shares of Norfolk Southern from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $274.16.

Insider Activity

In related news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction dated Friday, September 13th. The shares were sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the transaction, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the sale, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Director Sameh Fahmy acquired 1,000 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was acquired at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $2,550,000. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

About Norfolk Southern

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.