Sumitomo Mitsui Trust Group Inc. Sells 11,287 Shares of Norfolk Southern Corporation $NSC

Sumitomo Mitsui Trust Group Inc. lowered its holdings in Norfolk Southern Corporation (NYSE:NSC) by 2.3% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 487,002 shares of the railroad operator’s stock after selling 11,287 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.22% of Norfolk Southern worth $150,484,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. B. Metzler seel. Sohn & Co. AG purchased a new position in Norfolk Southern in the second quarter valued at about $3,669,000. SCS Capital Management LLC purchased a new position in Norfolk Southern in the second quarter valued at approximately $13,837,000. Focus Partners Advisor Solutions LLC purchased a new position in Norfolk Southern in the second quarter valued at approximately $1,376,000. PensionDanmark Pensionsforsikringsaktieselskab grew its holdings in Norfolk Southern by 29.2% during the second quarter. PensionDanmark Pensionsforsikringsaktieselskab now owns 54,620 shares of the railroad operator’s stock valued at $17,183,000 after purchasing an additional 12,350 shares during the period. Finally, NewEdge Advisors LLC grew its holdings in Norfolk Southern by 17.2% during the second quarter. NewEdge Advisors LLC now owns 35,598 shares of the railroad operator’s stock valued at $11,199,000 after purchasing an additional 5,233 shares during the period. Institutional investors own 75.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NSC. JPMorgan Chase & Co. increased their price target on Norfolk Southern from $318.00 to $323.00 and gave the stock a “neutral” rating in a research note on Friday, October 23rd. Stephens upgraded shares of Norfolk Southern to a “hold” rating in a research report on Wednesday, July 8th. Citigroup lifted their target price on shares of Norfolk Southern from $347.00 to $349.00 and gave the stock a “neutral” rating in a research note on Friday, October 23rd. Susquehanna reduced their target price on shares of Norfolk Southern from $386.00 to $350.00 and set a “neutral” rating for the company in a research note on Friday, October 2nd. Finally, Royal Bank Of Canada boosted their price target on shares of Norfolk Southern from $330.00 to $350.00 and gave the company a “sector perform” rating in a research report on Friday, October 23rd. Seven investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company’s stock. Based on data from MarketBeat, Norfolk Southern presently has a consensus rating of “Hold” and a consensus target price of $348.81.

Norfolk Southern Stock Down 0.0%

Shares of NYSE NSC opened at $342.55 on Monday. The company has a quick ratio of 0.81, a current ratio of 0.90 and a debt-to-equity ratio of 0.95. The company has a market cap of $76.94 billion, a P/E ratio of 28.71, a P/E/G ratio of 5.12 and a beta of 1.20. Norfolk Southern Corporation has a 52 week low of $277.80 and a 52 week high of $358.60. The business has a 50-day simple moving average of $326.36 and a two-hundred day simple moving average of $314.88.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, October 22nd. The railroad operator reported $3.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.16. Norfolk Southern had a net margin of 20.70% and a return on equity of 18.22%. The firm had revenue of $3.53 billion for the quarter, compared to the consensus estimate of $3.48 billion. During the same period in the prior year, the firm posted $3.30 earnings per share. The company’s revenue for the quarter was up 13.6% on a year-over-year basis. Research analysts anticipate that Norfolk Southern Corporation will post 12.80 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be paid a $1.35 dividend. The ex-dividend date is Friday, November 6th. This represents a $5.40 annualized dividend and a yield of 1.6%. Norfolk Southern’s dividend payout ratio is currently 45.26%.

Norfolk Southern Company Profile

Norfolk Southern Corporation (NYSE:NSC) is a transportation company that operates one of the largest freight railroad networks in the eastern United States. Through its Norfolk Southern Railway subsidiary, the company provides rail transportation and related services across a broad territory spanning portions of the Midwest, South and East Coast, including access to major industrial centers, ports and distribution markets.

Norfolk Southern transports a diverse range of commodities, including intermodal freight, merchandise, automotive products, coal and other energy-related materials.