Asset Management One Co. Ltd. Purchases 1,710 Shares of Norfolk Southern Co. (NYSE:NSC)

Asset Management One Co. Ltd. grew its position in shares of Norfolk Southern Co. (NYSE:NSC) by 2.0% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 85,174 shares of the railroad operator’s stock after purchasing an additional 1,710 shares during the period. Asset Management One Co. Ltd.’s holdings in Norfolk Southern were worth $21,166,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. GSA Capital Partners LLP raised its stake in shares of Norfolk Southern by 60.9% during the first quarter. GSA Capital Partners LLP now owns 2,043 shares of the railroad operator’s stock worth $521,000 after acquiring an additional 773 shares in the last quarter. Richardson Financial Services Inc. purchased a new stake in Norfolk Southern during the first quarter valued at about $45,000. Csenge Advisory Group grew its stake in shares of Norfolk Southern by 3.9% during the first quarter. Csenge Advisory Group now owns 1,153 shares of the railroad operator’s stock valued at $294,000 after buying an additional 43 shares during the last quarter. SPC Financial Inc. purchased a new position in shares of Norfolk Southern in the first quarter worth about $460,000. Finally, Broderick Brian C bought a new position in Norfolk Southern during the 1st quarter worth approximately $956,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $252.17 on Wednesday. Norfolk Southern Co. has a twelve month low of $192.53 and a twelve month high of $263.66. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $57.05 billion, a P/E ratio of 23.68, a PEG ratio of 2.37 and a beta of 1.30. The stock’s 50 day moving average is $250.55 and its 200 day moving average is $237.17.

Norfolk Southern (NYSE:NSC) last released its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The company’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the firm posted $2.65 earnings per share. On average, equities research analysts predict that Norfolk Southern Co. will post 11.82 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be paid a dividend of $1.35 per share. The ex-dividend date is Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a yield of 2.14%. Norfolk Southern’s dividend payout ratio is currently 50.70%.

Insiders Place Their Bets

In other news, Director Sameh Fahmy purchased 1,000 shares of Norfolk Southern stock in a transaction that occurred on Thursday, October 24th. The stock was bought at an average price of $255.00 per share, with a total value of $255,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $2,550,000. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Norfolk Southern news, Director Sameh Fahmy acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were bought at an average cost of $255.00 per share, with a total value of $255,000.00. Following the completion of the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $2,550,000. This represents a 0.00 % increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $255.98, for a total value of $13,138,173.50. Following the completion of the transaction, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently issued reports on the stock. Evercore ISI cut their target price on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price objective on shares of Norfolk Southern from $283.00 to $288.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Benchmark raised their target price on Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Loop Capital lifted their price objective on Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Wells Fargo & Company upped their target price on Norfolk Southern from $270.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $274.16.

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.