Mitsubishi UFJ Asset Management Co. Ltd. Has $146.05 Million Stake in Norfolk Southern Corporation $NSC

Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 3.9% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 486,162 shares of the railroad operator’s stock after acquiring an additional 18,382 shares during the quarter. Mitsubishi UFJ Asset Management Co. Ltd. owned 0.22% of Norfolk Southern worth $146,048,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in NSC. Tritonpoint Wealth LLC grew its holdings in shares of Norfolk Southern by 3.5% in the 3rd quarter. Tritonpoint Wealth LLC now owns 1,041 shares of the railroad operator’s stock worth $313,000 after purchasing an additional 35 shares during the last quarter. Massachusetts Wealth Management lifted its holdings in Norfolk Southern by 0.6% during the 3rd quarter. Massachusetts Wealth Management now owns 5,986 shares of the railroad operator’s stock valued at $1,798,000 after purchasing an additional 35 shares during the last quarter. ORG Partners LLC boosted its position in Norfolk Southern by 75.0% in the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock valued at $25,000 after buying an additional 36 shares in the last quarter. Horan Securities Inc. grew its stake in Norfolk Southern by 2.1% during the second quarter. Horan Securities Inc. now owns 1,764 shares of the railroad operator’s stock worth $452,000 after buying an additional 37 shares during the last quarter. Finally, Inspirion Wealth Advisors LLC grew its stake in Norfolk Southern by 1.9% during the third quarter. Inspirion Wealth Advisors LLC now owns 2,008 shares of the railroad operator’s stock worth $603,000 after buying an additional 37 shares during the last quarter. 75.10% of the stock is owned by institutional investors.

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director William Jr. Clyburn bought 204 shares of the business’s stock in a transaction on Friday, December 5th. The shares were bought at an average cost of $294.79 per share, for a total transaction of $60,137.16. Following the transaction, the director owned 405 shares in the company, valued at approximately $119,389.95. This trade represents a 101.49% increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Insiders own 0.06% of the company’s stock.

Analysts Set New Price Targets

NSC has been the subject of a number of research analyst reports. UBS Group cut shares of Norfolk Southern from a “buy” rating to a “neutral” rating and set a $342.00 target price for the company. in a research note on Friday, February 6th. Citigroup cut their price objective on Norfolk Southern from $317.00 to $300.00 and set a “neutral” rating for the company in a research report on Friday, January 30th. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a research note on Friday, January 30th. Sanford C. Bernstein decreased their target price on Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating on the stock in a report on Tuesday, November 11th. Finally, Zacks Research cut Norfolk Southern from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 19th. Seven analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $304.47.

Norfolk Southern Stock Up 0.4%

NYSE:NSC opened at $313.10 on Friday. The company has a market cap of $70.31 billion, a price-to-earnings ratio of 24.56, a P/E/G ratio of 5.62 and a beta of 1.34. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.78 and a current ratio of 0.85. The stock’s fifty day moving average price is $297.50 and its two-hundred day moving average price is $290.17. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $319.94.

Norfolk Southern (NYSE:NSC) last released its earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.46. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the previous year, the company posted $3.04 earnings per share. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. On average, analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.7%. The ex-dividend date of this dividend was Friday, February 6th. Norfolk Southern’s payout ratio is currently 42.35%.

Norfolk Southern Profile

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.