Norfolk Southern Corporation $NSC Shares Acquired by Rakuten Investment Management Inc.

Rakuten Investment Management Inc. lifted its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 24.9% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 29,518 shares of the railroad operator’s stock after purchasing an additional 5,889 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Norfolk Southern were worth $8,621,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. L2 Asset Management LLC grew its stake in shares of Norfolk Southern by 7.0% during the 4th quarter. L2 Asset Management LLC now owns 1,131 shares of the railroad operator’s stock worth $327,000 after purchasing an additional 74 shares during the period. 71 West Capital Partners acquired a new stake in shares of Norfolk Southern during the 4th quarter worth approximately $220,000. Squarepoint Ops LLC grew its stake in shares of Norfolk Southern by 175.7% during the 4th quarter. Squarepoint Ops LLC now owns 837,154 shares of the railroad operator’s stock worth $241,703,000 after purchasing an additional 533,487 shares during the period. USS Investment Management Ltd grew its stake in Norfolk Southern by 3.0% in the 4th quarter. USS Investment Management Ltd now owns 42,539 shares of the railroad operator’s stock valued at $12,283,000 after acquiring an additional 1,236 shares during the period. Finally, Yakira Capital Management Inc. grew its stake in Norfolk Southern by 33.3% in the 4th quarter. Yakira Capital Management Inc. now owns 19,700 shares of the railroad operator’s stock valued at $5,688,000 after acquiring an additional 4,925 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Trading Up 0.2%

Shares of NSC stock opened at $310.80 on Wednesday. The stock’s fifty day moving average is $309.24 and its two-hundred day moving average is $300.49. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91. The firm has a market capitalization of $69.80 billion, a P/E ratio of 26.18, a PEG ratio of 5.73 and a beta of 1.27. Norfolk Southern Corporation has a fifty-two week low of $249.39 and a fifty-two week high of $326.00.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the firm posted $2.69 EPS. The firm’s revenue for the quarter was up .2% on a year-over-year basis. Research analysts expect that Norfolk Southern Corporation will post 12.12 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date was Friday, May 8th. Norfolk Southern’s payout ratio is currently 45.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on NSC shares. JPMorgan Chase & Co. dropped their price target on shares of Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Weiss Ratings cut shares of Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, April 27th. Royal Bank Of Canada lifted their price target on shares of Norfolk Southern from $310.00 to $360.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. Zacks Research raised shares of Norfolk Southern from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Finally, Citigroup reissued a “neutral” rating on shares of Norfolk Southern in a research note on Friday, April 24th. Six research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $322.71.

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.