Daiwa Securities Group Inc. Has $8.69 Million Stock Position in Norfolk Southern Corporation $NSC

Daiwa Securities Group Inc. grew its stake in Norfolk Southern Corporation (NYSE:NSC) by 5.3% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 33,957 shares of the railroad operator’s stock after purchasing an additional 1,718 shares during the period. Daiwa Securities Group Inc.’s holdings in Norfolk Southern were worth $8,692,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Princeton Global Asset Management LLC grew its position in Norfolk Southern by 2.3% in the second quarter. Princeton Global Asset Management LLC now owns 1,640 shares of the railroad operator’s stock valued at $420,000 after acquiring an additional 37 shares during the period. Horan Securities Inc. boosted its stake in shares of Norfolk Southern by 2.1% in the 2nd quarter. Horan Securities Inc. now owns 1,764 shares of the railroad operator’s stock valued at $452,000 after purchasing an additional 37 shares in the last quarter. Gables Capital Management Inc. grew its holdings in shares of Norfolk Southern by 2.7% in the 2nd quarter. Gables Capital Management Inc. now owns 1,466 shares of the railroad operator’s stock worth $375,000 after purchasing an additional 38 shares during the last quarter. SeaCrest Wealth Management LLC increased its position in shares of Norfolk Southern by 1.7% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 2,429 shares of the railroad operator’s stock worth $622,000 after purchasing an additional 40 shares in the last quarter. Finally, Gilbert & Cook Inc. increased its position in shares of Norfolk Southern by 1.7% during the 2nd quarter. Gilbert & Cook Inc. now owns 2,430 shares of the railroad operator’s stock worth $622,000 after purchasing an additional 41 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on the stock. Barclays raised their price objective on shares of Norfolk Southern from $300.00 to $320.00 and gave the stock an “overweight” rating in a report on Thursday, October 2nd. Royal Bank Of Canada dropped their price target on Norfolk Southern from $320.00 to $315.00 and set a “sector perform” rating for the company in a report on Friday, October 24th. Citigroup cut their price objective on Norfolk Southern from $316.00 to $307.00 and set a “neutral” rating for the company in a research report on Friday, October 24th. Evercore ISI increased their target price on Norfolk Southern from $289.00 to $298.00 in a report on Thursday, September 25th. Finally, Robert W. Baird set a $293.00 price target on Norfolk Southern in a report on Friday, December 5th. Seven investment analysts have rated the stock with a Buy rating, fifteen have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $300.75.

Norfolk Southern Trading Up 1.7%

NSC stock opened at $294.41 on Thursday. The company has a quick ratio of 0.78, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $302.24. The company has a market cap of $66.06 billion, a P/E ratio of 22.46, a PEG ratio of 2.66 and a beta of 1.32. The business has a fifty day moving average of $288.08 and a 200-day moving average of $276.49.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.31 by ($0.01). The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.11 billion. Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. Norfolk Southern’s revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the business earned $3.25 EPS. As a group, equities research analysts expect that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Friday, November 7th were given a dividend of $1.35 per share. The ex-dividend date was Friday, November 7th. This represents a $5.40 annualized dividend and a dividend yield of 1.8%. Norfolk Southern’s payout ratio is currently 41.19%.

Insider Buying and Selling at Norfolk Southern

In related news, EVP Anil Bhatt sold 900 shares of the stock in a transaction that occurred on Wednesday, November 19th. The shares were sold at an average price of $281.60, for a total value of $253,440.00. Following the transaction, the executive vice president directly owned 1,413 shares in the company, valued at $397,900.80. This represents a 38.91% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Director Richard H. Anderson bought 2,600 shares of the stock in a transaction on Monday, October 27th. The shares were acquired at an average cost of $281.86 per share, with a total value of $732,836.00. Following the acquisition, the director directly owned 7,000 shares in the company, valued at approximately $1,973,020. This trade represents a 59.09% increase in their position. The disclosure for this purchase is available in the SEC filing. In the last three months, insiders acquired 4,454 shares of company stock valued at $1,259,874. 0.06% of the stock is currently owned by corporate insiders.

Norfolk Southern 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.