Rakuten Investment Management Inc. Boosts Position in Norfolk Southern Corporation $NSC

Rakuten Investment Management Inc. lifted its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 24.9% during the 4th quarter, Holdings Channel reports. The fund owned 29,518 shares of the railroad operator’s stock after buying an additional 5,889 shares during the quarter. Rakuten Investment Management Inc.’s holdings in Norfolk Southern were worth $8,621,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. Gilbert & Cook Inc. raised its holdings in Norfolk Southern by 1.4% in the 4th quarter. Gilbert & Cook Inc. now owns 2,515 shares of the railroad operator’s stock valued at $726,000 after buying an additional 35 shares during the period. Moss Adams Wealth Advisors LLC raised its holdings in Norfolk Southern by 4.6% in the 4th quarter. Moss Adams Wealth Advisors LLC now owns 791 shares of the railroad operator’s stock valued at $228,000 after buying an additional 35 shares during the period. Confluence Wealth Services Inc. raised its holdings in Norfolk Southern by 1.1% in the 4th quarter. Confluence Wealth Services Inc. now owns 3,090 shares of the railroad operator’s stock valued at $892,000 after buying an additional 35 shares during the period. Exencial Wealth Advisors LLC raised its holdings in Norfolk Southern by 1.1% in the 4th quarter. Exencial Wealth Advisors LLC now owns 3,216 shares of the railroad operator’s stock valued at $929,000 after buying an additional 35 shares during the period. Finally, Quotient Wealth Partners LLC raised its holdings in Norfolk Southern by 4.5% in the 4th quarter. Quotient Wealth Partners LLC now owns 864 shares of the railroad operator’s stock valued at $250,000 after buying an additional 37 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Up 0.2%

Shares of NYSE:NSC opened at $310.80 on Wednesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. The firm has a market capitalization of $69.80 billion, a PE ratio of 26.18, a price-to-earnings-growth ratio of 5.73 and a beta of 1.27. The firm’s 50-day moving average is $309.24 and its two-hundred day moving average is $300.49. Norfolk Southern Corporation has a 1 year low of $249.39 and a 1 year high of $326.00.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The business’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.69 earnings per share. Analysts predict that Norfolk Southern Corporation will post 12.12 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were paid a dividend of $1.35 per share. The ex-dividend date was Friday, May 8th. This represents a $5.40 dividend on an annualized basis and a yield of 1.7%. Norfolk Southern’s dividend payout ratio is 45.49%.

Wall Street Analysts Forecast Growth

NSC has been the topic of several research analyst reports. Citigroup restated a “neutral” rating on shares of Norfolk Southern in a report on Friday, April 24th. Rothschild & Co Redburn boosted their price objective on shares of Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. JPMorgan Chase & Co. reduced their price objective on shares of Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating on the stock in a report on Tuesday, April 7th. Susquehanna boosted their price objective on shares of Norfolk Southern from $330.00 to $337.00 and gave the company a “neutral” rating in a report on Friday, June 5th. Finally, UBS Group set a $327.00 price objective on shares of Norfolk Southern in a report on Thursday, May 7th. Six analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $322.71.

About Norfolk Southern

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.