Sumitomo Mitsui Trust Group Inc. Has $128.24 Million Position in Norfolk Southern Corporation (NYSE:NSC)

Sumitomo Mitsui Trust Group Inc. increased its stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 0.9% during the first quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 541,420 shares of the railroad operator's stock after acquiring an additional 4,597 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.22% of Norfolk Southern worth $128,235,000 as of its most recent SEC filing.

A number of other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in Norfolk Southern in the 4th quarter valued at $547,575,000. GAMMA Investing LLC boosted its stake in shares of Norfolk Southern by 25,555.7% during the 1st quarter. GAMMA Investing LLC now owns 989,796 shares of the railroad operator's stock worth $234,433,000 after buying an additional 985,938 shares during the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Norfolk Southern by 11.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,608,080 shares of the railroad operator's stock valued at $2,020,318,000 after acquiring an additional 918,559 shares in the last quarter. Boston Partners increased its position in shares of Norfolk Southern by 16.9% in the fourth quarter. Boston Partners now owns 4,020,392 shares of the railroad operator's stock valued at $945,385,000 after acquiring an additional 580,293 shares during the last quarter. Finally, The Manufacturers Life Insurance Company raised its holdings in Norfolk Southern by 293.7% during the fourth quarter. The Manufacturers Life Insurance Company now owns 671,680 shares of the railroad operator's stock worth $157,643,000 after acquiring an additional 501,053 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Stock Performance

Shares of NSC stock traded up $0.50 during midday trading on Thursday, hitting $262.50. 928,463 shares of the company were exchanged, compared to its average volume of 1,233,834. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $277.60. The firm has a market capitalization of $59.18 billion, a P/E ratio of 17.93, a PEG ratio of 2.06 and a beta of 1.31. The firm's 50 day moving average price is $242.54 and its two-hundred day moving average price is $239.47. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.70 and a current ratio of 0.78.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.72 by ($0.03). Norfolk Southern had a return on equity of 19.65% and a net margin of 27.40%. The firm had revenue of $2.99 billion for the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter in the prior year, the firm earned $2.49 EPS. The company's revenue was down .4% on a year-over-year basis. As a group, equities research analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

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

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on NSC shares. UBS Group raised their price target on Norfolk Southern from $275.00 to $279.00 and gave the company a "buy" rating in a research note on Friday, May 30th. Evercore ISI cut their price objective on Norfolk Southern from $284.00 to $269.00 and set an "outperform" rating for the company in a report on Thursday, April 24th. Wells Fargo & Company decreased their target price on shares of Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. BMO Capital Markets restated a "market perform" rating and set a $255.00 target price on shares of Norfolk Southern in a report on Thursday, April 24th. Finally, Bank of America upped their price target on shares of Norfolk Southern from $280.00 to $290.00 and gave the stock a "buy" rating in a research report on Wednesday. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus price target of $267.48.

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.