Nomura Asset Management Co. Ltd. Has $16.56 Million Holdings in Norfolk Southern Co. (NYSE:NSC)

Nomura Asset Management Co. Ltd. lifted its position in shares of Norfolk Southern Co. (NYSE:NSCFree Report) by 6.3% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 66,656 shares of the railroad operator’s stock after acquiring an additional 3,970 shares during the quarter. Nomura Asset Management Co. Ltd.’s holdings in Norfolk Southern were worth $16,564,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Lake Street Advisors Group LLC grew its holdings in shares of Norfolk Southern by 1.8% during the third quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock worth $563,000 after purchasing an additional 41 shares during the last quarter. Raab & Moskowitz Asset Management LLC grew its holdings in Norfolk Southern by 2.4% during the 3rd quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator’s stock worth $435,000 after acquiring an additional 41 shares during the last quarter. Hall Capital Management Co. Inc. increased its position in Norfolk Southern by 2.8% in the 2nd quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator’s stock valued at $325,000 after acquiring an additional 42 shares during the period. Blue Chip Partners LLC raised its stake in shares of Norfolk Southern by 0.5% during the second quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock valued at $1,656,000 after acquiring an additional 42 shares during the last quarter. Finally, Stephens Consulting LLC lifted its holdings in shares of Norfolk Southern by 12.4% during the second quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock worth $82,000 after purchasing an additional 42 shares during the period. Institutional investors own 75.10% of the company’s stock.

Insiders Place Their Bets

In related news, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was 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 $8,970,819.10. This trade represents a 59.42 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sameh Fahmy purchased 1,000 shares of the stock in a transaction on Thursday, October 24th. The shares were acquired at an average cost of $255.00 per share, with a total value of $255,000.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $2,550,000. The trade was a 11.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts have commented on the company. Royal Bank of Canada lifted their target price on Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Loop Capital upped their target price on Norfolk Southern from $285.00 to $287.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. JPMorgan Chase & Co. raised their price target on shares of Norfolk Southern from $283.00 to $288.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Stephens reaffirmed an “equal weight” rating and issued a $263.00 price objective on shares of Norfolk Southern in a research note on Wednesday, October 23rd. Finally, Wells Fargo & Company lifted their target price on shares of Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.68.

Read Our Latest Research Report on Norfolk Southern

Norfolk Southern Stock Performance

NSC opened at $256.08 on Wednesday. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The company has a market cap of $57.94 billion, a price-to-earnings ratio of 24.05, a PEG ratio of 2.47 and a beta of 1.31. The company’s fifty day moving average price is $258.96 and its two-hundred day moving average price is $243.10. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21.

Norfolk Southern (NYSE:NSCGet Free Report) last posted its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period in the previous year, the firm earned $2.65 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, analysts expect that Norfolk Southern Co. will post 11.82 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.11%. The ex-dividend date was Friday, November 1st. Norfolk Southern’s dividend payout ratio is currently 50.70%.

About Norfolk Southern

(Free Report)

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.

Further Reading

Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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