Meiji Yasuda Asset Management Co Ltd. Invests $1.39 Million in Norfolk Southern Corporation $NSC

Meiji Yasuda Asset Management Co Ltd. bought a new stake in Norfolk Southern Corporation (NYSE:NSC) in the 2nd quarter, HoldingsChannel reports. The institutional investor bought 4,421 shares of the railroad operator’s stock, valued at approximately $1,391,000.

A number of other institutional investors and hedge funds also recently modified their holdings of NSC. Brighton Jones LLC grew its position in Norfolk Southern by 4.9% during the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after buying an additional 79 shares during the period. Intech Investment Management LLC raised its position in Norfolk Southern by 40.4% in the first quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock worth $1,527,000 after acquiring an additional 1,855 shares during the period. Sivia Capital Partners LLC purchased a new position in Norfolk Southern in the second quarter valued at about $327,000. Schnieders Capital Management LLC. boosted its stake in Norfolk Southern by 64.1% in the second quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock valued at $1,094,000 after acquiring an additional 1,670 shares during the last quarter. Finally, Jump Financial LLC grew its position in shares of Norfolk Southern by 185.1% during the 2nd quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator’s stock valued at $1,174,000 after acquiring an additional 2,979 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Trading Up 0.6%

Shares of NSC opened at $352.91 on Tuesday. The business’s 50-day moving average price is $329.08 and its 200-day moving average price is $313.85. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $358.60. The stock has a market cap of $79.27 billion, a PE ratio of 30.11, a P/E/G ratio of 6.21 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, topping analysts’ consensus estimates of $3.32 by $0.20. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The business had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the prior year, the firm posted $3.29 EPS. Norfolk Southern’s revenue was up 12.5% on a year-over-year basis. On average, equities analysts forecast that Norfolk Southern Corporation will post 12.66 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were issued a $1.35 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $5.40 annualized dividend and a dividend yield of 1.5%. Norfolk Southern’s dividend payout ratio is presently 46.08%.

Analysts Set New Price Targets

A number of analysts have issued reports on NSC shares. Barclays raised their target price on Norfolk Southern from $360.00 to $400.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a report on Friday, July 24th. Royal Bank Of Canada boosted their price objective on Norfolk Southern from $320.00 to $360.00 and gave the company a “sector perform” rating in a research note on Friday, July 24th. Susquehanna upped their price objective on shares of Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a report on Tuesday, July 14th. Finally, Citigroup increased their target price on shares of Norfolk Southern from $351.00 to $376.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $348.00.

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.