Sumitomo Mitsui Trust Group Inc. Acquires 2,854 Shares of Norfolk Southern Corporation $NSC

Sumitomo Mitsui Trust Group Inc. lifted its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 0.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 549,028 shares of the railroad operator’s stock after purchasing an additional 2,854 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.24% of Norfolk Southern worth $164,934,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of the business. Norges Bank bought a new stake in Norfolk Southern during the 2nd quarter worth approximately $613,255,000. Kingstone Capital Partners Texas LLC acquired a new position in shares of Norfolk Southern in the second quarter valued at approximately $321,393,000. Holocene Advisors LP increased its position in shares of Norfolk Southern by 550.6% during the second quarter. Holocene Advisors LP now owns 983,366 shares of the railroad operator’s stock worth $251,712,000 after acquiring an additional 832,210 shares in the last quarter. TOMS Capital Investment Management LP acquired a new stake in shares of Norfolk Southern during the second quarter worth $181,995,000. Finally, Assenagon Asset Management S.A. raised its holdings in shares of Norfolk Southern by 93.1% during the third quarter. Assenagon Asset Management S.A. now owns 952,544 shares of the railroad operator’s stock worth $286,154,000 after acquiring an additional 459,166 shares during the period. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Performance

Shares of NYSE NSC opened at $288.73 on Tuesday. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.78 and a current ratio of 0.86. The stock has a 50 day moving average price of $289.12 and a 200 day moving average price of $283.36. The stock has a market capitalization of $64.79 billion, a PE ratio of 22.02, a price-to-earnings-growth ratio of 4.92 and a beta of 1.33. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $302.24.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.11 billion. Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the prior year, the company earned $3.25 EPS. Analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Friday, November 7th were paid a $1.35 dividend. The ex-dividend date was Friday, November 7th. This represents a $5.40 dividend on an annualized basis and a yield of 1.9%. Norfolk Southern’s dividend payout ratio (DPR) is currently 41.19%.

Insider Activity

In other news, Director Richard H. Anderson bought 2,600 shares of the business’s stock in a transaction that occurred on Monday, October 27th. The stock was acquired at an average cost of $281.86 per share, for a total transaction of $732,836.00. Following the purchase, the director owned 7,000 shares of the company’s stock, valued at approximately $1,973,020. This trade represents a 59.09% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, EVP Anil Bhatt sold 900 shares of Norfolk Southern stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $281.60, for a total value of $253,440.00. Following the transaction, the executive vice president owned 1,413 shares of the company’s stock, valued at $397,900.80. The trade was a 38.91% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders have bought 4,454 shares of company stock worth $1,259,874. 0.06% of the stock is owned by insiders.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the stock. Citigroup upped their target price on shares of Norfolk Southern from $307.00 to $317.00 and gave the stock a “neutral” rating in a research note on Wednesday, January 7th. TD Cowen reduced their price objective on Norfolk Southern from $320.00 to $314.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a research report on Monday, October 27th. Loop Capital boosted their target price on Norfolk Southern from $235.00 to $278.00 and gave the company a “hold” rating in a research note on Tuesday, September 16th. Finally, Morgan Stanley raised shares of Norfolk Southern from an “equal weight” rating to a “buy” rating in a research note on Thursday, December 18th. Seven research analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $299.85.

Norfolk Southern Profile

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.