Nomura Asset Management Co. Ltd. Increases Stake in Norfolk Southern Corporation $NSC

Nomura Asset Management Co. Ltd. boosted its stake in Norfolk Southern Corporation (NYSE:NSC) by 2.5% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 76,958 shares of the railroad operator’s stock after purchasing an additional 1,900 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in Norfolk Southern were worth $22,219,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of NSC. JPL Wealth Management LLC purchased a new position in Norfolk Southern in the 3rd quarter worth approximately $25,000. Westside Investment Management Inc. increased its stake in Norfolk Southern by 207.1% in the 3rd quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock worth $26,000 after purchasing an additional 58 shares during the period. BNP Paribas purchased a new position in Norfolk Southern in the 2nd quarter worth approximately $26,000. GoalVest Advisory LLC increased its stake in Norfolk Southern by 933.3% in the 4th quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock worth $27,000 after purchasing an additional 84 shares during the period. Finally, MMA Asset Management LLC purchased a new position in shares of Norfolk Southern during the third quarter valued at approximately $28,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Trading Down 0.0%

NYSE NSC opened at $304.86 on Tuesday. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04. Norfolk Southern Corporation has a twelve month low of $241.82 and a twelve month high of $326.00. The firm has a market capitalization of $68.47 billion, a PE ratio of 25.68, a P/E/G ratio of 5.63 and a beta of 1.27. The stock’s 50 day moving average is $303.67 and its 200 day moving average is $298.50.

Norfolk Southern (NYSE:NSC) last released its earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping the consensus estimate of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. During the same period in the previous year, the company posted $2.69 earnings per share. The company’s revenue for the quarter was up .2% compared to the same quarter last year. Research analysts forecast that Norfolk Southern Corporation will post 12.11 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business 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 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern’s payout ratio is 45.49%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently issued reports on NSC shares. Zacks Research raised Norfolk Southern from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Royal Bank Of Canada boosted their target price on Norfolk Southern from $310.00 to $360.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. Susquehanna boosted their target price on Norfolk Southern from $305.00 to $330.00 and gave the company a “neutral” rating in a research note on Wednesday, April 22nd. Evercore set a $325.00 target price on Norfolk Southern in a research note on Friday, April 24th. Finally, Jefferies Financial Group reduced their target price on Norfolk Southern from $350.00 to $310.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Six research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus target price of $322.29.

Norfolk Southern Company 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.