Daiichi Life Insurance Co. Ltd. Acquires New Position in Norfolk Southern Corporation $NSC

Daiichi Life Insurance Co. Ltd. acquired a new stake in Norfolk Southern Corporation (NYSE:NSC) during the 2nd quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 5,586 shares of the railroad operator’s stock, valued at approximately $1,757,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in NSC. Exencial Wealth Advisors LLC boosted its stake in shares of Norfolk Southern by 1.1% during the 4th quarter. Exencial Wealth Advisors LLC now owns 3,216 shares of the railroad operator’s stock valued at $929,000 after buying an additional 35 shares during the period. Sovereign Financial Group Inc. increased its stake in shares of Norfolk Southern by 3.3% in the first quarter. Sovereign Financial Group Inc. now owns 1,108 shares of the railroad operator’s stock worth $318,000 after acquiring an additional 35 shares during the last quarter. Bar Harbor Wealth Management increased its stake in shares of Norfolk Southern by 0.6% in the first quarter. Bar Harbor Wealth Management now owns 6,290 shares of the railroad operator’s stock worth $1,805,000 after acquiring an additional 36 shares during the last quarter. Apollon Financial LLC raised its holdings in shares of Norfolk Southern by 4.3% during the first quarter. Apollon Financial LLC now owns 881 shares of the railroad operator’s stock worth $253,000 after acquiring an additional 36 shares in the last quarter. Finally, Moss Adams Wealth Advisors LLC raised its holdings in shares of Norfolk Southern by 4.6% during the first quarter. Moss Adams Wealth Advisors LLC now owns 827 shares of the railroad operator’s stock worth $237,000 after acquiring an additional 36 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Trading Up 0.0%

Shares of NYSE:NSC opened at $350.77 on Monday. The stock has a market capitalization of $78.79 billion, a PE ratio of 29.93, a P/E/G ratio of 6.21 and a beta of 1.27. Norfolk Southern Corporation has a 1 year low of $268.23 and a 1 year high of $358.60. The firm has a fifty day moving average price of $328.23 and a 200 day moving average price of $313.47. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98.

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

Norfolk Southern Dividend Announcement

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

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on NSC shares. Rothschild & Co Redburn lifted their price objective on Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a research report on Wednesday, April 29th. Wells Fargo & Company upped their target price on Norfolk Southern from $365.00 to $385.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Susquehanna raised their price target on Norfolk Southern from $337.00 to $360.00 and gave the stock a “neutral” rating in a research note on Tuesday, July 14th. Citigroup lifted their price target on Norfolk Southern from $351.00 to $376.00 and gave the company a “neutral” rating in a report on Friday, July 24th. Finally, Evercore set a $358.00 price target on Norfolk Southern in a research note on Thursday, July 23rd. Seven research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat, Norfolk Southern presently has a consensus rating of “Hold” and a consensus price target of $348.00.

Norfolk Southern 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.