Mufg Securities Americas Inc. Buys New Holdings in Norfolk Southern Co. (NYSE:NSC)

Mufg Securities Americas Inc. purchased a new stake in Norfolk Southern Co. (NYSE:NSC - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 3,340 shares of the railroad operator's stock, valued at approximately $784,000.

Other hedge funds have also modified their holdings of the company. Geode Capital Management LLC lifted its holdings in shares of Norfolk Southern by 2.5% in the 4th quarter. Geode Capital Management LLC now owns 4,694,573 shares of the railroad operator's stock valued at $1,098,472,000 after buying an additional 113,648 shares during the period. Caprock Group LLC acquired a new stake in shares of Norfolk Southern in the 4th quarter valued at approximately $1,796,000. Dorsey & Whitney Trust CO LLC lifted its holdings in shares of Norfolk Southern by 2.3% in the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 5,678 shares of the railroad operator's stock valued at $1,333,000 after buying an additional 128 shares during the period. Clarendon Private LLC acquired a new stake in shares of Norfolk Southern in the 4th quarter valued at approximately $309,000. Finally, Ausbil Investment Management Ltd acquired a new stake in shares of Norfolk Southern in the 4th quarter valued at approximately $4,703,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several analysts have recently commented on the company. Bank of America raised their price target on Norfolk Southern from $267.00 to $280.00 and gave the company a "buy" rating in a report on Friday. Deutsche Bank Aktiengesellschaft assumed coverage on Norfolk Southern in a report on Friday, March 7th. They set a "buy" rating and a $293.00 price objective for the company. Wells Fargo & Company reduced their price objective on Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating for the company in a report on Thursday, March 27th. Stephens lifted their price objective on Norfolk Southern from $260.00 to $275.00 and gave the stock an "equal weight" rating in a report on Thursday, January 30th. Finally, 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 report on Thursday, April 24th. One equities research analyst has rated the stock with a sell rating, seven have assigned a hold rating and twelve have assigned a buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Moderate Buy" and an average price target of $266.50.

Norfolk Southern Price Performance

Norfolk Southern stock traded up $2.28 during mid-day trading on Friday, hitting $246.19. 1,089,983 shares of the company were exchanged, compared to its average volume of 1,208,273. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. The business's 50 day simple moving average is $226.19 and its two-hundred day simple moving average is $242.47. The company has a market capitalization of $55.50 billion, a P/E ratio of 21.30, a PEG ratio of 2.31 and a beta of 1.30. Norfolk Southern Co. has a 12-month low of $201.63 and a 12-month high of $277.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings results 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 company had revenue of $2.99 billion for the quarter, compared to analysts' expectations of $3.01 billion. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. The business's quarterly revenue was down .4% on a year-over-year basis. During the same period in the previous year, the business posted $2.49 EPS. Analysts forecast that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, May 20th. Stockholders of record on Friday, May 2nd will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.19%. The ex-dividend date is Friday, May 2nd. Norfolk Southern's dividend payout ratio is currently 36.89%.

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.