Sumitomo Mitsui DS Asset Management Company Ltd Purchases 2,372 Shares of Norfolk Southern Corporation (NYSE:NSC)

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 8.4% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 30,629 shares of the railroad operator's stock after purchasing an additional 2,372 shares during the quarter. Sumitomo Mitsui DS Asset Management Company Ltd's holdings in Norfolk Southern were worth $7,254,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of NSC. Vision Financial Markets LLC bought a new position in Norfolk Southern during the fourth quarter worth $28,000. Fourth Dimension Wealth LLC bought a new position in Norfolk Southern during the fourth quarter worth $28,000. Atlantic Private Wealth LLC acquired a new stake in Norfolk Southern in the fourth quarter worth $29,000. Putney Financial Group LLC acquired a new stake in Norfolk Southern in the fourth quarter worth $30,000. Finally, Greenline Partners LLC bought a new stake in Norfolk Southern in the fourth quarter valued at $31,000. Institutional investors and hedge funds own 75.10% of the company's stock.

Wall Street Analyst Weigh In

NSC has been the subject of several research reports. Stifel Nicolaus reduced their target price on Norfolk Southern from $265.00 to $247.00 and set a "hold" rating for the company in a research note on Monday, April 14th. Royal Bank Of Canada reduced their price objective on Norfolk Southern from $271.00 to $270.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Barclays decreased their price objective on Norfolk Southern from $305.00 to $290.00 and set an "overweight" rating for the company in a report on Wednesday, April 2nd. Robert W. Baird assumed coverage on Norfolk Southern in a report on Tuesday. They issued a "neutral" rating and a $255.00 target price on the stock. Finally, Bank of America boosted their price target on shares of Norfolk Southern from $280.00 to $290.00 and gave the company a "buy" rating in a research note on Wednesday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Moderate Buy" and an average target price of $267.48.

Norfolk Southern Stock Performance

NYSE:NSC traded up $0.50 during trading hours on Thursday, reaching $262.50. The stock had a trading volume of 928,463 shares, compared to its average volume of 1,233,834. Norfolk Southern Corporation has a 12-month low of $201.63 and a 12-month high of $277.60. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.70 and a current ratio of 0.78. The stock has a 50 day simple moving average of $242.54 and a 200 day simple moving average of $239.47. The stock has a market cap of $59.18 billion, a P/E ratio of 17.93, a price-to-earnings-growth ratio of 2.06 and a beta of 1.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings data on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share for the quarter, missing the consensus estimate of $2.72 by ($0.03). The firm had revenue of $2.99 billion during the quarter, compared to analysts' expectations of $3.01 billion. Norfolk Southern had a return on equity of 19.65% and a net margin of 27.40%. The company's revenue was down .4% compared to the same quarter last year. During the same period last year, the business posted $2.49 EPS. On average, research analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 2nd were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.06%. The ex-dividend date of this dividend was Friday, May 2nd. Norfolk Southern's payout ratio is currently 36.89%.

About Norfolk Southern

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.