Sumitomo Mitsui Trust Group Inc. Has $132.57 Million Holdings in Norfolk Southern Co. (NYSE:NSC)

Sumitomo Mitsui Trust Group Inc. increased its holdings in Norfolk Southern Co. (NYSE:NSC) by 0.7% in the third quarter, Holdings Channel reports. The institutional investor owned 533,459 shares of the railroad operator’s stock after buying an additional 3,621 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in Norfolk Southern were worth $132,565,000 at the end of the most recent reporting period.

Other institutional investors have also made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Norfolk Southern by 20.5% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock valued at $3,556,000 after acquiring an additional 2,453 shares during the period. Pathway Financial Advisers LLC raised its stake in Norfolk Southern by 25,181.8% in the third quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after purchasing an additional 889,925 shares in the last quarter. Seven Eight Capital LP bought a new stake in Norfolk Southern during the second quarter worth about $1,676,000. Dakota Wealth Management grew its stake in Norfolk Southern by 2.1% during the third quarter. Dakota Wealth Management now owns 7,206 shares of the railroad operator’s stock worth $1,791,000 after buying an additional 150 shares in the last quarter. Finally, Manning & Napier Advisors LLC bought a new position in Norfolk Southern in the 2nd quarter valued at about $13,627,000. 75.10% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the sale, the chief executive officer now owns 35,045 shares of the company’s stock, valued at $8,970,819.10. This trade represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, Director Sameh Fahmy bought 1,000 shares of the business’s stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average cost of $255.00 per share, with a total value of $255,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $2,550,000. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction on Friday, September 13th. The shares were sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the sale, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Wells Fargo & Company increased their price target on shares of Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday, October 23rd. UBS Group lifted their price target on Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. Jefferies Financial Group boosted their price target on Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. JPMorgan Chase & Co. raised their price objective on Norfolk Southern from $283.00 to $288.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada boosted their target price on Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average target price of $275.68.

Norfolk Southern Stock Up 0.7 %

Shares of NSC opened at $269.26 on Thursday. The company has a market capitalization of $60.92 billion, a PE ratio of 25.28, a PEG ratio of 2.54 and a beta of 1.30. The stock’s 50-day moving average price is $252.33 and its two-hundred day moving average price is $238.24. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21. Norfolk Southern Co. has a 12 month low of $201.44 and a 12 month high of $277.60.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the prior year, the firm posted $2.65 EPS. The company’s quarterly revenue was up 3.3% on a year-over-year basis. On average, analysts anticipate that Norfolk Southern Co. will post 11.82 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.01%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is presently 50.70%.

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.