Sumitomo Mitsui Trust Group Inc. Acquires 3,364 Shares of Norfolk Southern Co. (NYSE:NSC)

Sumitomo Mitsui Trust Group Inc. grew its stake in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 0.6% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 536,823 shares of the railroad operator's stock after buying an additional 3,364 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.24% of Norfolk Southern worth $125,992,000 as of its most recent filing with the SEC.

Other large investors have also made changes to their positions in the company. Highline Wealth Partners LLC acquired a new position in shares of Norfolk Southern during the third quarter valued at about $25,000. Financial Life Planners acquired a new position in shares of Norfolk Southern during the fourth quarter valued at about $27,000. Morse Asset Management Inc acquired a new position in shares of Norfolk Southern during the third quarter valued at about $30,000. Coastline Trust Co acquired a new position in shares of Norfolk Southern during the third quarter valued at about $32,000. Finally, Capital Performance Advisors LLP acquired a new position in shares of Norfolk Southern during the third quarter valued at about $33,000. Institutional investors and hedge funds own 75.10% of the company's stock.

Insider Activity

In related news, Director Gilbert H. Lamphere bought 607 shares of the business's stock in a transaction on Friday, January 31st. The shares were purchased at an average price of $259.86 per share, with a total value of $157,735.02. Following the completion of the purchase, the director now owns 2,487 shares of the company's stock, valued at $646,271.82. This represents a 32.29 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Sameh Fahmy bought 350 shares of the business's stock in a transaction on Thursday, December 12th. The stock was bought at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the purchase, the director now directly owns 10,350 shares of the company's stock, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by insiders.

Norfolk Southern Trading Down 1.0 %

Shares of NSC traded down $2.65 during trading hours on Wednesday, hitting $253.80. 876,492 shares of the stock traded hands, compared to its average volume of 1,197,585. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The firm has a market capitalization of $57.42 billion, a PE ratio of 21.96, a price-to-earnings-growth ratio of 2.32 and a beta of 1.35. The business has a fifty day moving average of $245.86 and a 200-day moving average of $250.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. Analysts expect that Norfolk Southern Co. will post 13.02 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Friday, February 7th will be paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.13%. The ex-dividend date is Friday, February 7th. Norfolk Southern's dividend payout ratio (DPR) is presently 46.71%.

Wall Street Analysts Forecast Growth

NSC has been the topic of a number of recent research reports. Wells Fargo & Company decreased their price objective on Norfolk Southern from $320.00 to $300.00 and set an "overweight" rating on the stock in a report on Tuesday, January 7th. Benchmark reiterated a "buy" rating and issued a $285.00 price target on shares of Norfolk Southern in a research report on Thursday, January 30th. TD Cowen upped their price target on Norfolk Southern from $253.00 to $259.00 and gave the company a "hold" rating in a research report on Wednesday, October 23rd. JPMorgan Chase & Co. upped their price target on Norfolk Southern from $284.00 to $286.00 and gave the company an "overweight" rating in a research report on Thursday, January 30th. Finally, Bank of America upped their price target on Norfolk Southern from $276.00 to $291.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $276.11.

Norfolk Southern Company 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.