Mitsubishi UFJ Trust & Banking Corp Trims Stock Position in Norfolk Southern Corporation (NYSE:NSC)

Key Points

• Mitsubishi UFJ Trust & Banking Corp reduced its holdings in Norfolk Southern Corporation by 14.5%, selling 136,182 shares, and now owns approximately 803,140 shares valued at $190.2 million.
• Norfolk Southern's stock has shown solid performance, reporting a $3.29 EPS for the last quarter, exceeding analysts' expectations, along with revenues of $3.11 billion.
• The company declared a quarterly dividend of $1.35 per share, with a dividend yield of 2.0%, set to be paid on August 20th.

Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 14.5% in the first quarter, according to its most recent disclosure with the SEC. The firm owned 803,140 shares of the railroad operator's stock after selling 136,182 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.36% of Norfolk Southern worth $190,224,000 at the end of the most recent quarter.

Other large investors also recently added to or reduced their stakes in the company. Fourth Dimension Wealth LLC acquired a new stake in shares of Norfolk Southern in the fourth quarter valued at about $28,000. Putney Financial Group LLC acquired a new stake in shares of Norfolk Southern in the fourth quarter valued at about $30,000. Greenline Partners LLC acquired a new stake in shares of Norfolk Southern in the fourth quarter valued at about $31,000. HWG Holdings LP purchased a new stake in shares of Norfolk Southern in the first quarter valued at about $35,000. Finally, Physician Wealth Advisors Inc. grew its holdings in shares of Norfolk Southern by 129.2% in the first quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock valued at $35,000 after purchasing an additional 84 shares during the period. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Down 1.2%

Shares of NYSE NSC traded down $3.43 during midday trading on Friday, hitting $274.57. The company's stock had a trading volume of 2,727,424 shares, compared to its average volume of 2,988,673. The business's fifty day simple moving average is $259.97 and its two-hundred day simple moving average is $244.71. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.79 and a quick ratio of 0.71. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $288.11. The firm has a market capitalization of $61.67 billion, a price-to-earnings ratio of 18.55, a price-to-earnings-growth ratio of 2.44 and a beta of 1.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The railroad operator reported $3.29 EPS for the quarter, beating the consensus estimate of $3.24 by $0.05. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. The business had revenue of $3.11 billion during the quarter, compared to analyst estimates of $3.10 billion. On average, equities analysts predict that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Friday, August 1st will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.0%. The ex-dividend date is Friday, August 1st. Norfolk Southern's payout ratio is 36.49%.

Analyst Ratings Changes

NSC has been the subject of a number of analyst reports. Susquehanna reissued a "neutral" rating and issued a $260.00 price objective (up previously from $250.00) on shares of Norfolk Southern in a report on Tuesday, June 24th. The Goldman Sachs Group reissued a "neutral" rating and issued a $278.00 price objective on shares of Norfolk Southern in a report on Monday, June 2nd. Evercore ISI reissued an "in-line" rating and issued a $289.00 price objective (up previously from $279.00) on shares of Norfolk Southern in a report on Wednesday. Stifel Nicolaus dropped their price objective on shares of Norfolk Southern from $265.00 to $247.00 and set a "hold" rating for the company in a report on Monday, April 14th. Finally, Jefferies Financial Group reissued a "hold" rating and issued a $300.00 price objective on shares of Norfolk Southern in a report on Friday, July 25th. Fourteen equities research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of "Hold" and an average target price of $285.15.

Norfolk Southern Company Profile

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.