Norfolk Southern Co. (NYSE:NSC) Shares Purchased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. boosted its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 7.7% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 29,769 shares of the railroad operator’s stock after purchasing an additional 2,121 shares during the period. Daiwa Securities Group Inc.’s holdings in Norfolk Southern were worth $6,987,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Capital Performance Advisors LLP purchased a new position in Norfolk Southern during the third quarter valued at approximately $33,000. CWA Asset Management Group LLC acquired a new stake in shares of Norfolk Southern during the 3rd quarter worth approximately $310,000. United Bank increased its holdings in shares of Norfolk Southern by 2.4% during the 3rd quarter. United Bank now owns 8,875 shares of the railroad operator’s stock valued at $2,205,000 after purchasing an additional 204 shares in the last quarter. Assetmark Inc. boosted its holdings in Norfolk Southern by 3.3% during the third quarter. Assetmark Inc. now owns 2,921 shares of the railroad operator’s stock worth $726,000 after buying an additional 94 shares in the last quarter. Finally, Mesirow Financial Investment Management Inc. boosted its holdings in Norfolk Southern by 7.2% during the third quarter. Mesirow Financial Investment Management Inc. now owns 3,171 shares of the railroad operator’s stock worth $788,000 after buying an additional 212 shares in the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

NSC has been the subject of a number of analyst reports. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Norfolk Southern in a research report on Friday, March 7th. They issued a “buy” rating and a $293.00 price objective for the company. Royal Bank of Canada increased their price target on Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Citigroup boosted their price objective on Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. Susquehanna decreased their target price on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Finally, JPMorgan Chase & Co. lifted their price target on shares of Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, Norfolk Southern currently has a consensus rating of “Moderate Buy” and an average target price of $276.95.

Norfolk Southern Price Performance

NYSE:NSC opened at $233.35 on Wednesday. Norfolk Southern Co. has a one year low of $206.71 and a one year high of $277.60. The stock has a market cap of $52.84 billion, a PE ratio of 20.19, a P/E/G ratio of 2.31 and a beta of 1.35. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. The stock has a 50 day moving average price of $246.59 and a 200 day moving average price of $250.88.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. Equities research analysts expect that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were given a $1.35 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.31%. Norfolk Southern’s payout ratio is 46.71%.

Insiders Place Their Bets

In other Norfolk Southern news, Director Gilbert H. Lamphere acquired 607 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average cost of $259.86 per share, with a total value of $157,735.02. Following the transaction, the director now owns 2,487 shares of the company’s stock, valued at $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Sameh Fahmy acquired 350 shares of Norfolk Southern stock in a transaction that occurred on Thursday, December 12th. The stock was bought at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the acquisition, the director now owns 10,350 shares in the company, valued at $2,580,979.50. This trade represents a 3.50 % increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is owned by insiders.

About Norfolk Southern

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.