Mitsubishi UFJ Asset Management Co. Ltd. Purchases Shares of 543,331 Norfolk Southern Corporation $NSC

Mitsubishi UFJ Asset Management Co. Ltd. purchased a new stake in Norfolk Southern Corporation (NYSE:NSC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 543,331 shares of the railroad operator’s stock, valued at approximately $170,926,000.

Other institutional investors have also modified their holdings of the company. JPL Wealth Management LLC bought a new position in shares of Norfolk Southern during the 3rd quarter worth approximately $25,000. BNP Paribas bought a new position in Norfolk Southern during the second quarter worth about $26,000. Meeder Asset Management Inc. raised its stake in Norfolk Southern by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock valued at $27,000 after purchasing an additional 67 shares in the last quarter. Financial Life Planners bought a new stake in Norfolk Southern during the first quarter worth $33,000. Finally, Bayban bought a new position in Norfolk Southern in the 4th quarter valued at approximately $34,000. Institutional investors own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on NSC. Susquehanna lifted their price target on shares of Norfolk Southern from $337.00 to $360.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Rothschild & Co Redburn lifted their price target on shares of Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Royal Bank Of Canada raised their price objective on Norfolk Southern from $320.00 to $360.00 and gave the stock a “sector perform” rating in a report on Friday, July 24th. Wells Fargo & Company boosted their price objective on shares of Norfolk Southern from $365.00 to $385.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Finally, Wall Street Zen upgraded Norfolk Southern from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Seven equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average price target of $348.00.

Norfolk Southern Stock Up 1.9%

Shares of NSC opened at $340.90 on Tuesday. The company’s 50-day moving average price is $325.50 and its 200 day moving average price is $311.88. Norfolk Southern Corporation has a 12-month low of $268.23 and a 12-month high of $358.60. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98. The firm has a market cap of $76.57 billion, a P/E ratio of 29.09, a price-to-earnings-growth ratio of 5.92 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, beating the consensus estimate of $3.32 by $0.20. The firm had revenue of $3.46 billion for the quarter, compared to analysts’ expectations of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The firm’s revenue was up 12.5% compared to the same quarter last year. During the same quarter last year, the company earned $3.29 earnings per share. On average, sell-side analysts forecast that Norfolk Southern Corporation will post 12.66 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Friday, August 7th will be paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date is Friday, August 7th. Norfolk Southern’s payout ratio is currently 46.08%.

Norfolk Southern Company 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.