Daiwa Securities Group Inc. Has $5.57 Million Stake in Norfolk Southern Co. (NYSE:NSC)

Daiwa Securities Group Inc. raised its position in Norfolk Southern Co. (NYSE:NSC) by 16.0% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 25,933 shares of the railroad operator’s stock after acquiring an additional 3,579 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Norfolk Southern were worth $5,567,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently modified their holdings of the company. Royal London Asset Management Ltd. grew its holdings in Norfolk Southern by 4.8% during the second quarter. Royal London Asset Management Ltd. now owns 89,857 shares of the railroad operator’s stock worth $19,291,000 after purchasing an additional 4,113 shares during the period. Longfellow Investment Management Co. LLC lifted its position in shares of Norfolk Southern by 127.6% in the second quarter. Longfellow Investment Management Co. LLC now owns 4,498 shares of the railroad operator’s stock valued at $966,000 after buying an additional 2,522 shares during the last quarter. Choreo LLC boosted its stake in shares of Norfolk Southern by 98.5% during the 2nd quarter. Choreo LLC now owns 24,589 shares of the railroad operator’s stock worth $5,265,000 after acquiring an additional 12,203 shares during the period. Clifford Swan Investment Counsel LLC increased its holdings in shares of Norfolk Southern by 1.3% during the 2nd quarter. Clifford Swan Investment Counsel LLC now owns 7,281 shares of the railroad operator’s stock worth $1,563,000 after acquiring an additional 96 shares during the last quarter. Finally, Quest Partners LLC raised its stake in Norfolk Southern by 89,300.0% in the 2nd quarter. Quest Partners LLC now owns 894 shares of the railroad operator’s stock valued at $192,000 after acquiring an additional 893 shares during the period. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Trading Down 1.4 %

NSC opened at $253.77 on Thursday. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.30. Norfolk Southern Co. has a twelve month low of $183.09 and a twelve month high of $263.66. The stock has a market capitalization of $57.33 billion, a price-to-earnings ratio of 40.86, a P/E/G ratio of 2.44 and a beta of 1.31. The company has a 50-day simple moving average of $239.00 and a 200 day simple moving average of $238.17.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.20. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. During the same quarter last year, the business posted $2.95 EPS. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. Analysts predict that Norfolk Southern Co. will post 11.8 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd were paid a $1.35 dividend. The ex-dividend date was Friday, August 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.13%. Norfolk Southern’s payout ratio is 86.96%.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Sanford C. Bernstein decreased their price objective on shares of Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating on the stock in a report on Monday, July 8th. Royal Bank of Canada decreased their price target on shares of Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. TD Cowen raised their price objective on shares of Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Benchmark upped their target price on Norfolk Southern from $266.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Susquehanna lifted their price target on Norfolk Southern from $245.00 to $255.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $264.24.

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy bought 700 shares of the firm’s stock in a transaction on Thursday, August 1st. The shares were purchased at an average price of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the transaction, the director now directly owns 7,700 shares in the company, valued at approximately $1,887,655. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Sameh Fahmy acquired 700 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The stock was acquired at an average price of $245.15 per share, with a total value of $171,605.00. Following the purchase, the director now directly owns 7,700 shares in the company, valued at $1,887,655. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Director Richard H. Anderson bought 2,000 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were bought at an average cost of $247.48 per share, for a total transaction of $494,960.00. Following the purchase, the director now owns 3,000 shares of the company’s stock, valued at approximately $742,440. The disclosure for this purchase can be found here. In the last quarter, insiders acquired 4,700 shares of company stock valued at $1,105,065. Corporate insiders own 0.19% of the company’s stock.

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.