Asset Management One Co. Ltd. Has $24.21 Million Stock Position in Norfolk Southern Corporation $NSC

Key Points

• Asset Management One Co. Ltd. increased its stake in Norfolk Southern Corporation by 2.7%, holding a total of 94,563 shares worth approximately $24.21 million.
• Norfolk Southern recently announced a quarterly dividend of $1.35 per share, which signifies a 1.9% dividend yield for investors.
• Analysts have varied opinions on Norfolk Southern's stock, with price targets ranging from $289 to $320 and a consensus rating of “Hold”.

Asset Management One Co. Ltd. increased its stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 2.7% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 94,563 shares of the railroad operator's stock after purchasing an additional 2,445 shares during the quarter. Asset Management One Co. Ltd.'s holdings in Norfolk Southern were worth $24,205,000 as of its most recent filing with the SEC.

Other institutional investors have also made changes to their positions in the company. WPG Advisers LLC acquired a new stake in shares of Norfolk Southern during the first quarter worth $27,000. Physician Wealth Advisors Inc. lifted its holdings in shares of Norfolk Southern by 129.2% during the first quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock worth $35,000 after buying an additional 84 shares in the last quarter. Financial Gravity Asset Management Inc. acquired a new stake in shares of Norfolk Southern during the first quarter worth $41,000. Golden State Wealth Management LLC raised its stake in Norfolk Southern by 883.3% in the first quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator's stock valued at $42,000 after purchasing an additional 159 shares in the last quarter. Finally, Pinnacle Bancorp Inc. raised its stake in Norfolk Southern by 30.5% in the second quarter. Pinnacle Bancorp Inc. now owns 184 shares of the railroad operator's stock valued at $47,000 after purchasing an additional 43 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

NSC has been the subject of a number of analyst reports. Robert W. Baird boosted their price target on Norfolk Southern from $255.00 to $300.00 and gave the company a "neutral" rating in a research note on Tuesday, July 22nd. Evercore ISI boosted their price target on Norfolk Southern from $289.00 to $298.00 in a research note on Thursday, September 25th. BMO Capital Markets boosted their price target on Norfolk Southern from $285.00 to $305.00 and gave the company a "market perform" rating in a research note on Friday. TD Cowen dropped their price target on Norfolk Southern from $320.00 to $314.00 and set a "buy" rating for the company in a research note on Friday. Finally, Benchmark downgraded Norfolk Southern from a "buy" rating to a "hold" rating in a research note on Wednesday, July 30th. Seven investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $299.70.

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $280.29 on Friday. Norfolk Southern Corporation has a 12-month low of $201.63 and a 12-month high of $302.24. The company has a quick ratio of 0.71, a current ratio of 0.79 and a debt-to-equity ratio of 1.11. The business's 50-day moving average price is $285.78 and its two-hundred day moving average price is $262.58. The stock has a market cap of $62.96 billion, a PE ratio of 21.38, a P/E/G ratio of 2.52 and a beta of 1.33.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its earnings results on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $3.31 by ($0.01). Norfolk Southern had a net margin of 24.22% and a return on equity of 19.13%. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter in the prior year, the firm earned $3.25 EPS. The business's revenue was up .0% on a year-over-year basis. As a group, analysts expect that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Friday, November 7th will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, November 7th. Norfolk Southern's payout ratio is 36.49%.

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.

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