Meiji Yasuda Asset Management Co Ltd. Purchases Shares of 4,421 Norfolk Southern Corporation $NSC

Key Points

• Meiji Yasuda Asset Management purchased 4,421 Norfolk Southern shares worth approximately $1.39 million, while institutional investors and hedge funds collectively own 75.1% of the company.
• Norfolk Southern reported quarterly EPS of $3.52, beating estimates by $0.20, while revenue rose 12.5% year over year to $3.46 billion.
• The company pays a quarterly dividend of $1.35, equivalent to $5.40 annually and a 1.5% yield. Analysts maintain a consensus “Hold” rating with an average price target of $348.

Meiji Yasuda Asset Management Co Ltd. purchased a new position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) during the second quarter, according to its most recent 13F filing with the SEC. The institutional investor purchased 4,421 shares of the railroad operator's stock, valued at approximately $1,391,000.

Several other large investors also recently modified their holdings of NSC. Exencial Wealth Advisors LLC boosted its stake in Norfolk Southern by 1.1% during the fourth quarter. Exencial Wealth Advisors LLC now owns 3,216 shares of the railroad operator's stock worth $929,000 after acquiring an additional 35 shares in the last quarter. Sovereign Financial Group Inc. increased its stake in Norfolk Southern by 3.3% in the first quarter. Sovereign Financial Group Inc. now owns 1,108 shares of the railroad operator's stock valued at $318,000 after purchasing an additional 35 shares in the last quarter. Bar Harbor Wealth Management increased its stake in Norfolk Southern by 0.6% in the first quarter. Bar Harbor Wealth Management now owns 6,290 shares of the railroad operator's stock valued at $1,805,000 after purchasing an additional 36 shares in the last quarter. Apollon Financial LLC raised its holdings in shares of Norfolk Southern by 4.3% during the first quarter. Apollon Financial LLC now owns 881 shares of the railroad operator's stock valued at $253,000 after purchasing an additional 36 shares during the period. Finally, Moss Adams Wealth Advisors LLC boosted its position in shares of Norfolk Southern by 4.6% during the 1st quarter. Moss Adams Wealth Advisors LLC now owns 827 shares of the railroad operator's stock worth $237,000 after purchasing an additional 36 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company's stock.

Norfolk Southern Trading Up 0.6%

NYSE:NSC opened at $352.91 on Tuesday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73. Norfolk Southern Corporation has a one year low of $268.23 and a one year high of $358.60. The company has a market cap of $79.27 billion, a PE ratio of 30.11, a PEG ratio of 6.21 and a beta of 1.27. The firm has a 50-day moving average of $329.08 and a 200-day moving average of $313.85.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, beating the consensus estimate of $3.32 by $0.20. The business had revenue of $3.46 billion for the quarter, compared to analysts' expectations of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The firm's revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter last year, the firm earned $3.29 EPS. As a group, equities research analysts expect that Norfolk Southern Corporation will post 12.66 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were paid a $1.35 dividend. The ex-dividend date was Friday, August 7th. This represents a $5.40 annualized dividend and a dividend yield of 1.5%. Norfolk Southern's dividend payout ratio is presently 46.08%.

Analysts Set New Price Targets

Several analysts have recently commented on the company. Citigroup raised their target price on Norfolk Southern from $351.00 to $376.00 and gave the company a "neutral" rating in a research note on Friday, July 24th. Evercore set a $358.00 price target on Norfolk Southern in a report on Thursday, July 23rd. UBS Group reissued a "neutral" rating and issued a $363.00 price objective on shares of Norfolk Southern in a research note on Friday, July 24th. Weiss Ratings upgraded Norfolk Southern from a "hold (c+)" rating to a "buy (b-)" rating in a report on Friday, July 24th. Finally, Royal Bank Of Canada upped their target price on Norfolk Southern from $320.00 to $360.00 and gave the stock a "sector perform" rating in a research report on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat.com, Norfolk Southern has a consensus rating of "Hold" and a consensus price target of $348.00.

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.

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