Mitsubishi UFJ Trust & Banking Corp Has $32.76 Million Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

by · The Cerbat Gem

Mitsubishi UFJ Trust & Banking Corp trimmed its position in Norfolk Southern Co. (NYSE:NSC – Free Report) by 3.9% in the third quarter, according to its most recent filing with the SEC. The fund owned 166,363 shares of the railroad operator’s stock after selling 6,676 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned 0.07% of Norfolk Southern worth $32,762,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of the company. Axiom Financial Strategies LLC increased its stake in shares of Norfolk Southern by 9.2% in the first quarter. Axiom Financial Strategies LLC now owns 852 shares of the railroad operator’s stock valued at $220,000 after buying an additional 72 shares during the period. Fairfield Bush & CO. bought a new stake in Norfolk Southern during the 1st quarter worth approximately $81,000. United Bank increased its position in Norfolk Southern by 2.0% in the 1st quarter. United Bank now owns 7,581 shares of the railroad operator’s stock valued at $2,162,000 after acquiring an additional 148 shares during the period. Cetera Investment Advisers raised its stake in shares of Norfolk Southern by 4.6% during the first quarter. Cetera Investment Advisers now owns 8,640 shares of the railroad operator’s stock valued at $2,464,000 after acquiring an additional 377 shares during the last quarter. Finally, Sequoia Financial Advisors LLC lifted its holdings in shares of Norfolk Southern by 13.3% during the first quarter. Sequoia Financial Advisors LLC now owns 1,946 shares of the railroad operator’s stock worth $555,000 after purchasing an additional 228 shares during the period. Institutional investors and hedge funds own 72.37% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NSC. Royal Bank of Canada decreased their price target on Norfolk Southern from $215.00 to $207.00 and set a “sector perform” rating for the company in a research note on Monday, January 29th. JPMorgan Chase & Co. reduced their price objective on shares of Norfolk Southern from $238.00 to $237.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 9th. Citigroup boosted their target price on shares of Norfolk Southern from $253.00 to $286.00 and gave the company a “buy” rating in a report on Thursday. TheStreet upgraded Norfolk Southern from a “c+” rating to a “b-” rating in a report on Thursday, December 21st. Finally, Barclays lowered their price objective on Norfolk Southern from $240.00 to $235.00 and set an “equal weight” rating for the company in a research report on Monday, January 29th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, Norfolk Southern presently has an average rating of “Hold” and a consensus price target of $238.94.

Read Our Latest Analysis on Norfolk Southern

Norfolk Southern Stock Performance

NYSE:NSC opened at $254.83 on Friday. The company has a market capitalization of $57.56 billion, a P/E ratio of 31.77, a P/E/G ratio of 4.43 and a beta of 1.30. The business has a fifty day simple moving average of $234.74 and a two-hundred day simple moving average of $215.97. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.14. Norfolk Southern Co. has a 1 year low of $183.09 and a 1 year high of $256.36.

Norfolk Southern (NYSE:NSC – Get Free Report) last released its quarterly earnings data on Friday, January 26th. The railroad operator reported $2.83 EPS for the quarter, missing the consensus estimate of $2.87 by ($0.04). The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.09 billion. Norfolk Southern had a net margin of 15.03% and a return on equity of 21.06%. Norfolk Southern’s revenue for the quarter was down 4.2% compared to the same quarter last year. During the same period last year, the company earned $3.42 earnings per share. On average, analysts expect that Norfolk Southern Co. will post 12.25 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, February 20th. Stockholders of record on Friday, February 2nd will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Thursday, February 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.12%. Norfolk Southern’s dividend payout ratio (DPR) is currently 67.33%.

About Norfolk Southern

(Free Report)

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.

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