Norfolk Southern Co. (NYSE:NSC) Shares Acquired by Tokio Marine Asset Management Co. Ltd.

Tokio Marine Asset Management Co. Ltd. lifted its position in shares of Norfolk Southern Co. (NYSE:NSCFree Report) by 15.0% in the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 5,517 shares of the railroad operator’s stock after buying an additional 721 shares during the period. Tokio Marine Asset Management Co. Ltd.’s holdings in Norfolk Southern were worth $1,406,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also made changes to their positions in the company. AEGON ASSET MANAGEMENT UK Plc purchased a new position in shares of Norfolk Southern during the 4th quarter worth approximately $2,933,000. State of Tennessee Treasury Department boosted its position in shares of Norfolk Southern by 209.3% during the 4th quarter. State of Tennessee Treasury Department now owns 111,914 shares of the railroad operator’s stock worth $26,454,000 after purchasing an additional 75,729 shares during the period. BKM Wealth Management LLC purchased a new position in shares of Norfolk Southern during the 4th quarter worth approximately $1,444,000. Cerity Partners LLC boosted its position in shares of Norfolk Southern by 37.1% during the 4th quarter. Cerity Partners LLC now owns 150,998 shares of the railroad operator’s stock worth $35,692,000 after purchasing an additional 40,861 shares during the period. Finally, Catalytic Wealth RIA LLC purchased a new position in shares of Norfolk Southern during the 4th quarter worth approximately $608,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $215.14 on Monday. The business’s 50 day simple moving average is $224.53 and its 200-day simple moving average is $238.42. The firm has a market capitalization of $48.60 billion, a price-to-earnings ratio of 34.76, a price-to-earnings-growth ratio of 2.04 and a beta of 1.32. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.68 and a quick ratio of 0.61. Norfolk Southern Co. has a 12 month low of $183.09 and a 12 month high of $263.66.

Norfolk Southern (NYSE:NSCGet Free Report) last posted its earnings results on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.09). Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.05 billion. During the same period in the previous year, the company posted $3.32 EPS. Norfolk Southern’s quarterly revenue was down 4.1% compared to the same quarter last year. As a group, equities analysts forecast that Norfolk Southern Co. will post 11.88 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Friday, May 3rd were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.51%. The ex-dividend date was Thursday, May 2nd. Norfolk Southern’s payout ratio is currently 86.96%.

Analyst Upgrades and Downgrades

Several brokerages have commented on NSC. JPMorgan Chase & Co. raised their price target on shares of Norfolk Southern from $240.00 to $275.00 and gave the company an “overweight” rating in a research report on Tuesday, April 9th. TD Cowen raised their price target on shares of Norfolk Southern from $236.00 to $253.00 and gave the company a “market perform” rating in a research report on Thursday, March 21st. Stifel Nicolaus raised their price target on shares of Norfolk Southern from $233.00 to $244.00 and gave the company a “hold” rating in a research report on Friday, April 12th. UBS Group reduced their price objective on shares of Norfolk Southern from $302.00 to $294.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Benchmark restated a “buy” rating and issued a $277.00 price objective on shares of Norfolk Southern in a report on Thursday, April 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $262.89.

View Our Latest Stock Report on NSC

Insider Activity at Norfolk Southern

In related news, Director Sameh Fahmy bought 2,000 shares of Norfolk Southern stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average price of $219.25 per share, with a total value of $438,500.00. Following the purchase, the director now owns 7,000 shares in the company, valued at $1,534,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In other Norfolk Southern news, Director Sameh Fahmy purchased 2,000 shares of the business’s stock in a transaction on Friday, June 14th. The stock was bought at an average cost of $219.25 per share, for a total transaction of $438,500.00. Following the acquisition, the director now owns 7,000 shares of the company’s stock, valued at approximately $1,534,750. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Claude Mongeau purchased 5,650 shares of the business’s stock in a transaction on Wednesday, May 29th. The stock was acquired at an average price of $221.00 per share, with a total value of $1,248,650.00. Following the completion of the acquisition, the director now directly owns 20,000 shares in the company, valued at approximately $4,420,000. The disclosure for this purchase can be found here. 0.19% of the stock is owned by corporate insiders.

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.

Featured Stories

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

Receive News & Ratings for Norfolk Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norfolk Southern and related companies with MarketBeat.com's FREE daily email newsletter.