Sumitomo Mitsui DS Asset Management Company Ltd Has $6.94 Million Stock Position in Norfolk Southern Co. (NYSE:NSC)

Sumitomo Mitsui DS Asset Management Company Ltd raised its stake in Norfolk Southern Co. (NYSE:NSC) by 7.4% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 27,932 shares of the railroad operator’s stock after buying an additional 1,915 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in Norfolk Southern were worth $6,941,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in NSC. Wedmont Private Capital lifted its holdings in shares of Norfolk Southern by 3.2% during the first quarter. Wedmont Private Capital now owns 3,117 shares of the railroad operator’s stock worth $790,000 after purchasing an additional 96 shares during the period. Park Avenue Securities LLC lifted its holdings in shares of Norfolk Southern by 4.5% during the first quarter. Park Avenue Securities LLC now owns 4,772 shares of the railroad operator’s stock worth $1,216,000 after purchasing an additional 207 shares during the period. Gulf International Bank UK Ltd lifted its holdings in shares of Norfolk Southern by 0.5% during the first quarter. Gulf International Bank UK Ltd now owns 18,786 shares of the railroad operator’s stock worth $4,787,000 after purchasing an additional 98 shares during the period. Sanders Morris Harris LLC acquired a new position in shares of Norfolk Southern during the first quarter worth $313,000. Finally, &PARTNERS acquired a new position in shares of Norfolk Southern during the first quarter worth $445,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Buying and Selling

In related news, CEO Alan H. Shaw sold 51,325 shares of the business’s 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 transaction, the chief executive officer now directly owns 35,045 shares in the company, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In related news, CEO Alan H. Shaw sold 51,325 shares of the business’s 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 transaction, the chief executive officer now directly owns 35,045 shares in the company, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Richard H. Anderson purchased 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were purchased at an average price of $247.48 per share, for a total transaction of $494,960.00. Following the completion of the acquisition, the director now owns 3,000 shares of the company’s stock, valued at $742,440. The trade was a 200.00 % increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is owned by corporate insiders.

Analyst Ratings Changes

NSC has been the topic of a number of recent research reports. Susquehanna lifted their price target on shares of Norfolk Southern from $255.00 to $280.00 and gave the stock a “neutral” rating in a report on Wednesday, October 2nd. Stifel Nicolaus lifted their price target on shares of Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a report on Friday, October 11th. TD Cowen lifted their target price on shares of Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Benchmark lifted their target price on shares of Norfolk Southern from $266.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Finally, Royal Bank of Canada lifted their target price on shares of Norfolk Southern from $267.00 to $272.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. One equities research analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $266.17.

Norfolk Southern Trading Up 1.7 %

NSC opened at $252.37 on Friday. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30. The company has a market cap of $57.01 billion, a P/E ratio of 40.64, a price-to-earnings-growth ratio of 2.33 and a beta of 1.31. The company has a fifty day moving average price of $247.82 and a two-hundred day moving average price of $236.87.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.86 by $0.20. The firm had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.04 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The business’s revenue was up 2.1% on a year-over-year basis. During the same period last year, the company earned $2.95 earnings per share. Analysts predict that Norfolk Southern Co. will post 11.79 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.14%. Norfolk Southern’s dividend payout ratio is currently 86.96%.

Norfolk Southern Company 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.