Mitsubishi UFJ Trust & Banking Corp Sells 641,895 Shares of Norfolk Southern Corporation $NSC

Key Points

• Mitsubishi UFJ Trust & Banking Corp cut its stake in Norfolk Southern by 87.6% in Q4, selling 641,895 shares and retaining 91,080 shares worth about $26.30 million after the filing.
• Norfolk Southern beat EPS estimates for the quarter ($2.65 vs. $2.49) but missed revenue expectations ($3.0B vs. $3.13B); the stock trades near $312 with a market cap of $70.14B and a consensus analyst rating of "Hold" (target $320.28).
• Norfolk Southern declared a quarterly dividend of $1.35 ($5.40 annualized, ~1.7% yield) with an ex-dividend/record date of May 8 and a payment date of May 20.

Mitsubishi UFJ Trust & Banking Corp cut its stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 87.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 91,080 shares of the railroad operator's stock after selling 641,895 shares during the period. Mitsubishi UFJ Trust & Banking Corp's holdings in Norfolk Southern were worth $26,297,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the business. Vanguard Group Inc. raised its stake in shares of Norfolk Southern by 1.3% during the 4th quarter. Vanguard Group Inc. now owns 20,825,837 shares of the railroad operator's stock worth $6,012,836,000 after purchasing an additional 272,651 shares during the period. Pentwater Capital Management LP bought a new stake in shares of Norfolk Southern during the 3rd quarter worth $826,128,000. Dimensional Fund Advisors LP raised its stake in shares of Norfolk Southern by 5.8% during the 3rd quarter. Dimensional Fund Advisors LP now owns 2,179,610 shares of the railroad operator's stock worth $654,757,000 after purchasing an additional 118,697 shares during the period. Legal & General Group Plc raised its stake in shares of Norfolk Southern by 4.6% during the 3rd quarter. Legal & General Group Plc now owns 1,744,074 shares of the railroad operator's stock worth $523,937,000 after purchasing an additional 76,751 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its stake in shares of Norfolk Southern by 545.2% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,306,203 shares of the railroad operator's stock worth $392,396,000 after purchasing an additional 1,103,748 shares during the period. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Trading Down 1.4%

Shares of NSC opened at $312.28 on Thursday. The business's 50-day moving average price is $299.61 and its 200-day moving average price is $294.20. Norfolk Southern Corporation has a twelve month low of $218.05 and a twelve month high of $323.37. The stock has a market cap of $70.14 billion, a PE ratio of 26.31, a P/E/G ratio of 5.89 and a beta of 1.31. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, topping the consensus estimate of $2.49 by $0.16. The company had revenue of $3 billion for the quarter, compared to analysts' expectations of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. Norfolk Southern's revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the business earned $2.69 earnings per share. On average, equities analysts forecast that Norfolk Southern Corporation will post 12.11 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Friday, May 8th will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date is Friday, May 8th. Norfolk Southern's dividend payout ratio is 45.49%.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Weiss Ratings cut Norfolk Southern from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday. Wolfe Research upped their price objective on shares of Norfolk Southern from $350.00 to $355.00 and gave the company an "outperform" rating in a report on Tuesday, April 7th. JPMorgan Chase & Co. cut their target price on shares of Norfolk Southern from $296.00 to $292.00 and set a "neutral" rating for the company in a research report on Tuesday, April 7th. Royal Bank Of Canada increased their target price on shares of Norfolk Southern from $310.00 to $360.00 and gave the stock a "sector perform" rating in a research report on Friday, April 24th. Finally, TD Cowen increased their target price on shares of Norfolk Southern from $313.00 to $337.00 and gave the stock a "buy" rating in a research report on Monday. Six equities research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $320.28.

About Norfolk Southern

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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