MUFG Securities EMEA plc Buys 6,001 Shares of Norfolk Southern Corporation (NYSE:NSC)

Key Points

• MUFG Securities EMEA plc has increased its holdings in Norfolk Southern Corporation by 18.2%, owning 39,000 shares worth approximately $9.24 million.
• Norfolk Southern recently reported $3.29 earnings per share for the last quarter, surpassing analysts' estimates and achieving a revenue of $3.11 billion.
• A quarterly dividend of $1.35 will be paid to shareholders on August 20th, representing an annualized yield of 1.9%.

MUFG Securities EMEA plc grew its position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 18.2% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 39,000 shares of the railroad operator's stock after purchasing an additional 6,001 shares during the period. MUFG Securities EMEA plc's holdings in Norfolk Southern were worth $9,237,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. Brighton Jones LLC grew its position in shares of Norfolk Southern by 4.9% during the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator's stock worth $400,000 after buying an additional 79 shares in the last quarter. Wellington Management Group LLP grew its position in shares of Norfolk Southern by 3.6% during the fourth quarter. Wellington Management Group LLP now owns 23,882 shares of the railroad operator's stock worth $5,605,000 after buying an additional 820 shares in the last quarter. Renaissance Technologies LLC grew its position in shares of Norfolk Southern by 168.3% during the fourth quarter. Renaissance Technologies LLC now owns 128,000 shares of the railroad operator's stock worth $30,042,000 after buying an additional 80,300 shares in the last quarter. Advisory Services Network LLC grew its position in shares of Norfolk Southern by 4.1% during the fourth quarter. Advisory Services Network LLC now owns 12,499 shares of the railroad operator's stock worth $2,933,000 after buying an additional 487 shares in the last quarter. Finally, Bessemer Group Inc. boosted its holdings in Norfolk Southern by 1.6% in the fourth quarter. Bessemer Group Inc. now owns 15,897 shares of the railroad operator's stock worth $3,732,000 after purchasing an additional 255 shares during the period. Hedge funds and other institutional investors own 75.10% of the company's stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on NSC. Susquehanna reaffirmed 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. Robert W. Baird lifted their price objective on shares of Norfolk Southern from $255.00 to $300.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. BMO Capital Markets reaffirmed a "market perform" rating and issued a $255.00 price objective on shares of Norfolk Southern in a report on Thursday, April 24th. UBS Group raised their target price on Norfolk Southern from $275.00 to $279.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Finally, Citigroup raised their target price on Norfolk Southern from $288.00 to $305.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Fourteen research analysts have rated the stock with a hold rating and seven have given a buy rating to the company. According to MarketBeat, Norfolk Southern presently has a consensus rating of "Hold" and an average price target of $285.15.

Norfolk Southern Stock Up 0.9%

NYSE:NSC traded up $2.46 on Wednesday, hitting $280.70. 783,810 shares of the company's stock traded hands, compared to its average volume of 1,550,284. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.11. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $288.11. The firm has a 50-day moving average price of $264.83 and a 200-day moving average price of $246.15. The company has a market cap of $63.05 billion, a PE ratio of 18.96, a price-to-earnings-growth ratio of 2.47 and a beta of 1.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share for the quarter, beating the consensus estimate of $3.24 by $0.05. The company had revenue of $3.11 billion for the quarter, compared to analysts' expectations of $3.10 billion. Norfolk Southern had a return on equity of 19.35% and a net margin of 27.51%. Equities analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders 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 dividend yield of 1.9%. The ex-dividend date is Friday, August 1st. Norfolk Southern's payout ratio is currently 36.49%.

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.