Sumitomo Mitsui Trust Group Inc. Buys 3,621 Shares of Norfolk Southern Co. (NYSE:NSC)

Sumitomo Mitsui Trust Group Inc. raised its stake in Norfolk Southern Co. (NYSE:NSC - Free Report) by 0.7% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 533,459 shares of the railroad operator's stock after purchasing an additional 3,621 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.24% of Norfolk Southern worth $132,565,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of NSC. Highline Wealth Partners LLC acquired a new stake in Norfolk Southern during the third quarter worth approximately $25,000. Cedar Wealth Management LLC acquired a new position in Norfolk Southern in the 1st quarter valued at $27,000. 1620 Investment Advisors Inc. bought a new position in Norfolk Southern during the 2nd quarter worth $27,000. Financial Connections Group Inc. acquired a new stake in Norfolk Southern in the 2nd quarter worth about $31,000. Finally, HWG Holdings LP bought a new stake in Norfolk Southern in the 2nd quarter valued at about $31,000. 75.10% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other Norfolk Southern news, Director Sameh Fahmy purchased 1,000 shares of the company's stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company's stock, valued at $2,550,000. The trade was a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, CEO Alan H. Shaw sold 51,325 shares of the company's stock in a transaction 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 transaction, the chief executive officer now owns 35,045 shares of the company's stock, valued at $8,970,819.10. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Sameh Fahmy acquired 1,000 shares of the firm's stock in a transaction that occurred on Thursday, October 24th. The stock was purchased at an average cost of $255.00 per share, with a total value of $255,000.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $2,550,000. The trade was a 0.00 % 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 Stock Down 1.7 %

Norfolk Southern stock traded down $4.66 during mid-day trading on Thursday, reaching $264.60. The stock had a trading volume of 532,933 shares, compared to its average volume of 1,253,567. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.65 and a current ratio of 0.73. The stock's 50-day simple moving average is $252.52 and its 200-day simple moving average is $238.46. Norfolk Southern Co. has a fifty-two week low of $204.90 and a fifty-two week high of $277.60. The firm has a market capitalization of $59.86 billion, a PE ratio of 25.28, a price-to-earnings-growth ratio of 2.54 and a beta of 1.30.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping the consensus estimate of $3.11 by $0.14. The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The company's quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.65 earnings per share. On average, sell-side analysts forecast that Norfolk Southern Co. will post 11.82 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.04%. The ex-dividend date is Friday, November 1st. Norfolk Southern's dividend payout ratio (DPR) is presently 50.70%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Loop Capital boosted their price target on Norfolk Southern from $285.00 to $287.00 and gave the company a "buy" rating in a research note on Wednesday, October 23rd. Susquehanna raised their price target on Norfolk Southern from $280.00 to $285.00 and gave the stock a "neutral" rating in a research report on Wednesday, October 23rd. Citigroup upped their price objective on shares of Norfolk Southern from $302.00 to $316.00 and gave the stock a "buy" rating in a research report on Tuesday. UBS Group raised their target price on shares of Norfolk Southern from $289.00 to $309.00 and gave the company a "buy" rating in a report on Wednesday, October 23rd. Finally, Stifel Nicolaus upped their price target on shares of Norfolk Southern from $241.00 to $245.00 and gave the stock a "hold" rating in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Moderate Buy" and an average target price of $275.68.

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.