Norfolk Southern Co. (NYSE:NSC) Shares Acquired by Nomura Asset Management Co. Ltd.

Nomura Asset Management Co. Ltd. boosted its position in Norfolk Southern Co. (NYSE:NSC) by 0.4% during the 4th quarter, Holdings Channel reports. The fund owned 66,907 shares of the railroad operator’s stock after acquiring an additional 251 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Norfolk Southern were worth $15,703,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in NSC. United Bank grew its stake in shares of Norfolk Southern by 2.4% during the third quarter. United Bank now owns 8,875 shares of the railroad operator’s stock worth $2,205,000 after purchasing an additional 204 shares in the last quarter. Townsquare Capital LLC increased its holdings in shares of Norfolk Southern by 40.9% in the 3rd quarter. Townsquare Capital LLC now owns 5,059 shares of the railroad operator’s stock valued at $1,257,000 after acquiring an additional 1,469 shares during the last quarter. Zurcher Kantonalbank Zurich Cantonalbank raised its position in shares of Norfolk Southern by 7.4% during the 3rd quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 44,979 shares of the railroad operator’s stock worth $11,177,000 after acquiring an additional 3,096 shares in the last quarter. Rockefeller Capital Management L.P. lifted its stake in Norfolk Southern by 3.9% during the third quarter. Rockefeller Capital Management L.P. now owns 45,945 shares of the railroad operator’s stock worth $11,418,000 after purchasing an additional 1,704 shares during the last quarter. Finally, Cobblestone Capital Advisors LLC NY boosted its holdings in Norfolk Southern by 7.2% in the third quarter. Cobblestone Capital Advisors LLC NY now owns 1,393 shares of the railroad operator’s stock valued at $346,000 after purchasing an additional 93 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC opened at $230.41 on Monday. The stock has a market capitalization of $52.17 billion, a P/E ratio of 19.93, a P/E/G ratio of 2.31 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. The company’s fifty day moving average is $245.28 and its two-hundred day moving average is $249.05.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. On average, sell-side analysts predict that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were issued a $1.35 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 annualized dividend and a dividend yield of 2.34%. Norfolk Southern’s dividend payout ratio is currently 46.71%.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, Director Gilbert H. Lamphere bought 607 shares of Norfolk Southern stock in a transaction on Friday, January 31st. The stock was bought at an average price of $259.86 per share, with a total value of $157,735.02. Following the completion of the acquisition, the director now owns 2,487 shares in the company, valued at $646,271.82. The trade was a 32.29 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

NSC has been the subject of several recent analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Norfolk Southern in a research report on Friday, March 7th. They set a “buy” rating and a $293.00 price objective for the company. Susquehanna dropped their price objective on Norfolk Southern from $265.00 to $260.00 and set a “neutral” rating on the stock in a report on Thursday. Benchmark reissued a “buy” rating and issued a $285.00 target price on shares of Norfolk Southern in a report on Thursday, January 30th. Loop Capital downgraded Norfolk Southern from a “buy” rating to a “hold” rating and dropped their price target for the stock from $289.00 to $256.00 in a research note on Monday, February 3rd. Finally, Royal Bank of Canada lifted their price target on Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company. According to MarketBeat, Norfolk Southern presently has a consensus rating of “Moderate Buy” and a consensus price target of $274.84.

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.