Tokio Marine Asset Management Co. Ltd. Increases Stake in Norfolk Southern Co. (NYSE:NSC)

Tokio Marine Asset Management Co. Ltd. raised its stake in Norfolk Southern Co. (NYSE:NSC) by 7.8% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 4,796 shares of the railroad operator’s stock after acquiring an additional 346 shares during the quarter. Tokio Marine Asset Management Co. Ltd.’s holdings in Norfolk Southern were worth $1,134,000 at the end of the most recent quarter.

Several other institutional investors have also recently added to or reduced their stakes in the business. Provence Wealth Management Group acquired a new stake in Norfolk Southern during the third quarter worth about $28,000. Exchange Traded Concepts LLC increased its stake in Norfolk Southern by 662.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock worth $29,000 after acquiring an additional 106 shares during the last quarter. Operose Advisors LLC acquired a new stake in Norfolk Southern during the third quarter worth about $32,000. Orion Capital Management LLC acquired a new stake in Norfolk Southern during the third quarter worth about $32,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in Norfolk Southern during the fourth quarter worth about $32,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Performance

NYSE:NSC traded down $0.31 during trading hours on Friday, reaching $240.52. 224,743 shares of the stock were exchanged, compared to its average volume of 1,276,038. The company has a quick ratio of 1.14, a current ratio of 0.68 and a debt-to-equity ratio of 1.37. The firm has a 50 day simple moving average of $252.07 and a 200-day simple moving average of $232.18. Norfolk Southern Co. has a 52 week low of $183.09 and a 52 week high of $263.66. The stock has a market capitalization of $59.22 billion, a P/E ratio of 38.76, a P/E/G ratio of 3.22 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last released its earnings results on Wednesday, April 24th. The railroad operator reported $2.49 EPS for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.09). The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.05 billion. Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The company’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period in the prior year, the business earned $3.32 EPS. As a group, sell-side analysts forecast that Norfolk Southern Co. will post 11.93 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Stockholders of record on Friday, May 3rd will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.25%. The ex-dividend date is Thursday, May 2nd. Norfolk Southern’s payout ratio is 86.96%.

Analysts Set New Price Targets

NSC has been the subject of several analyst reports. Susquehanna decreased their target price on Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating for the company in a research report on Wednesday, April 10th. BMO Capital Markets decreased their target price on Norfolk Southern from $250.00 to $245.00 and set a “market perform” rating for the company in a research report on Monday, January 29th. Morgan Stanley downgraded Norfolk Southern from an “equal weight” rating to an “underweight” rating and decreased their target price for the stock from $185.00 to $175.00 in a research report on Monday, January 29th. Royal Bank of Canada reaffirmed a “sector perform” rating and issued a $270.00 target price on shares of Norfolk Southern in a research report on Wednesday, April 10th. Finally, JPMorgan Chase & Co. upped their target price on Norfolk Southern from $240.00 to $275.00 and gave the stock an “overweight” rating in a research report on Tuesday, April 9th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $262.32.

Norfolk Southern Profile

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.