Mitsubishi UFJ Asset Management Co. Ltd. decreased its holdings in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 3.8% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 467,820 shares of the railroad operator's stock after selling 18,342 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. owned approximately 0.21% of Norfolk Southern worth $134,648,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. Cullen Capital Management LLC lifted its stake in Norfolk Southern by 31.8% during the third quarter. Cullen Capital Management LLC now owns 121,351 shares of the railroad operator's stock worth $36,455,000 after purchasing an additional 29,264 shares during the last quarter. Markel Group Inc. lifted its stake in Norfolk Southern by 8.5% during the third quarter. Markel Group Inc. now owns 256,500 shares of the railroad operator's stock worth $77,055,000 after purchasing an additional 20,000 shares during the last quarter. Picton Mahoney Asset Management bought a new stake in Norfolk Southern during the third quarter worth about $24,033,000. AlphaQuest LLC bought a new stake in Norfolk Southern during the third quarter worth about $2,165,000. Finally, First Horizon Corp bought a new stake in Norfolk Southern during the third quarter worth about $565,000. Institutional investors own 75.10% of the company's stock.
Analyst Ratings Changes
Several equities research analysts have issued reports on NSC shares. Evercore set a $325.00 price target on Norfolk Southern in a research note on Friday, April 24th. Royal Bank Of Canada lifted their price target on Norfolk Southern from $310.00 to $360.00 and gave the stock a "sector perform" rating in a research note on Friday, April 24th. Susquehanna lifted their price target on Norfolk Southern from $305.00 to $330.00 and gave the stock a "neutral" rating in a research note on Wednesday, April 22nd. Wall Street Zen upgraded Norfolk Southern from a "sell" rating to a "hold" rating in a report on Saturday, May 2nd. Finally, Barclays lifted their price objective on Norfolk Southern from $320.00 to $360.00 and gave the stock an "overweight" rating in a report on Monday, April 27th. Six investment analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of "Hold" and an average target price of $320.67.
Get Our Latest Analysis on NSC
Norfolk Southern Stock Up 1.4%
NSC opened at $317.85 on Thursday. The company has a market cap of $71.38 billion, a P/E ratio of 26.78, a P/E/G ratio of 5.79 and a beta of 1.30. The business's 50-day moving average price is $299.64 and its 200-day moving average price is $294.78. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. Norfolk Southern Corporation has a 12 month low of $218.89 and a 12 month high of $323.37.
Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping the consensus estimate of $2.49 by $0.16. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The company's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the business earned $2.69 earnings per share. On average, equities analysts expect that Norfolk Southern Corporation will post 12.11 EPS for the current year.
Norfolk Southern Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th will be issued a $1.35 dividend. The ex-dividend date is Friday, May 8th. This represents a $5.40 annualized dividend and a dividend yield of 1.7%. Norfolk Southern's payout ratio is currently 45.49%.
About Norfolk Southern
(
Free Report)
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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