Daiwa Securities Group Inc. Increases Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Daiwa Securities Group Inc. raised its position in Norfolk Southern Co. (NYSE:NSC) by 7.7% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,769 shares of the railroad operator’s stock after acquiring an additional 2,121 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Norfolk Southern were worth $6,987,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of the business. Capital Performance Advisors LLP purchased a new stake in Norfolk Southern during the 3rd quarter worth approximately $33,000. CWA Asset Management Group LLC purchased a new position in Norfolk Southern in the 3rd quarter valued at approximately $310,000. United Bank grew its stake in shares of Norfolk Southern by 2.4% in the third quarter. United Bank now owns 8,875 shares of the railroad operator’s stock worth $2,205,000 after acquiring an additional 204 shares in the last quarter. Assetmark Inc. increased its position in shares of Norfolk Southern by 3.3% during the third quarter. Assetmark Inc. now owns 2,921 shares of the railroad operator’s stock worth $726,000 after acquiring an additional 94 shares during the period. Finally, Mesirow Financial Investment Management Inc. raised its stake in shares of Norfolk Southern by 7.2% in the third quarter. Mesirow Financial Investment Management Inc. now owns 3,171 shares of the railroad operator’s stock valued at $788,000 after acquiring an additional 212 shares in the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock opened at $233.35 on Wednesday. The stock has a market capitalization of $52.84 billion, a price-to-earnings ratio of 20.19, a PEG ratio of 2.31 and a beta of 1.35. The firm’s fifty day simple moving average is $246.59 and its 200-day simple moving average is $250.88. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. Norfolk Southern Co. has a 12 month low of $206.71 and a 12 month high of $277.60.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. As a group, equities analysts forecast that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were given a dividend of $1.35 per share. The ex-dividend date was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a yield of 2.31%. Norfolk Southern’s payout ratio is 46.71%.

Insider Buying and Selling at Norfolk Southern

In other news, Director Sameh Fahmy bought 350 shares of Norfolk Southern stock in a transaction dated Thursday, December 12th. The stock was bought at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the purchase, the director now owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. The trade was a 3.50 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Gilbert H. Lamphere purchased 607 shares of the company’s stock in a transaction dated Friday, January 31st. The shares were purchased at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the purchase, the director now owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently commented on NSC shares. Royal Bank of Canada boosted their target price on Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. upped their target price on shares of Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Susquehanna lowered their price target on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Barclays raised their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Finally, Stephens boosted their target price on shares of Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given 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 $276.95.

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.