Mitsubishi UFJ Trust & Banking Corp Sells 641,895 Shares of Norfolk Southern Corporation $NSC

Mitsubishi UFJ Trust & Banking Corp trimmed its stake in Norfolk Southern Corporation (NYSE:NSC) by 87.6% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 91,080 shares of the railroad operator’s stock after selling 641,895 shares during the period. Mitsubishi UFJ Trust & Banking Corp’s holdings in Norfolk Southern were worth $26,297,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of NSC. Pentwater Capital Management LP bought a new position in shares of Norfolk Southern in the third quarter worth approximately $826,128,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Norfolk Southern by 545.2% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,306,203 shares of the railroad operator’s stock worth $392,396,000 after purchasing an additional 1,103,748 shares during the last quarter. Balyasny Asset Management L.P. purchased a new stake in Norfolk Southern in the third quarter worth approximately $329,629,000. TOMS Capital Investment Management LP purchased a new stake in Norfolk Southern in the second quarter worth approximately $181,995,000. Finally, M&T Bank Corp boosted its stake in Norfolk Southern by 463.2% in the fourth quarter. M&T Bank Corp now owns 783,271 shares of the railroad operator’s stock worth $226,146,000 after buying an additional 644,202 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

Several analysts have issued reports on NSC shares. JPMorgan Chase & Co. cut their target price on Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Citigroup reaffirmed a “neutral” rating on shares of Norfolk Southern in a research note on Friday, April 24th. Robert W. Baird upped their target price on Norfolk Southern from $315.00 to $330.00 and gave the stock a “neutral” rating in a research note on Tuesday. BMO Capital Markets upped their target price on Norfolk Southern from $305.00 to $310.00 and gave the stock a “market perform” rating in a research note on Monday. Finally, Sanford C. Bernstein cut their target price on Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Six investment analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company’s stock. According to MarketBeat, Norfolk Southern has a consensus rating of “Hold” and a consensus price target of $320.28.

Norfolk Southern Stock Performance

NYSE:NSC opened at $312.28 on Thursday. The business has a 50 day moving average price of $299.61 and a 200-day moving average price of $294.20. Norfolk Southern Corporation has a fifty-two week low of $218.05 and a fifty-two week high of $323.37. The firm has a market cap of $70.14 billion, a PE ratio of 26.31, a price-to-earnings-growth ratio of 5.89 and a beta of 1.31. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The company had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. During the same quarter last year, the firm posted $2.69 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. Equities research analysts predict that Norfolk Southern Corporation will post 12.11 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, May 20th. Investors of record on Friday, May 8th will be paid a $1.35 dividend. The ex-dividend date of this dividend is Friday, May 8th. This represents a $5.40 dividend on an annualized basis and a yield of 1.7%. Norfolk Southern’s dividend payout ratio (DPR) is presently 45.49%.

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.