Daiwa Securities Group Inc. Has $5.57 Million Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Daiwa Securities Group Inc. raised its holdings in Norfolk Southern Co. (NYSE:NSC) by 16.0% in the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 25,933 shares of the railroad operator’s stock after acquiring an additional 3,579 shares during the quarter. Daiwa Securities Group Inc.’s holdings in Norfolk Southern were worth $5,567,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Royal London Asset Management Ltd. increased its holdings in Norfolk Southern by 4.8% in the second quarter. Royal London Asset Management Ltd. now owns 89,857 shares of the railroad operator’s stock valued at $19,291,000 after purchasing an additional 4,113 shares during the period. Longfellow Investment Management Co. LLC grew its position in shares of Norfolk Southern by 127.6% in the 2nd quarter. Longfellow Investment Management Co. LLC now owns 4,498 shares of the railroad operator’s stock valued at $966,000 after buying an additional 2,522 shares during the last quarter. Choreo LLC increased its stake in shares of Norfolk Southern by 98.5% in the second quarter. Choreo LLC now owns 24,589 shares of the railroad operator’s stock valued at $5,265,000 after buying an additional 12,203 shares during the period. Clifford Swan Investment Counsel LLC raised its position in shares of Norfolk Southern by 1.3% during the second quarter. Clifford Swan Investment Counsel LLC now owns 7,281 shares of the railroad operator’s stock worth $1,563,000 after acquiring an additional 96 shares during the last quarter. Finally, Quest Partners LLC lifted its stake in shares of Norfolk Southern by 89,300.0% in the second quarter. Quest Partners LLC now owns 894 shares of the railroad operator’s stock worth $192,000 after acquiring an additional 893 shares during the period. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC opened at $253.77 on Thursday. The firm has a market capitalization of $57.33 billion, a P/E ratio of 40.86, a P/E/G ratio of 2.44 and a beta of 1.31. Norfolk Southern Co. has a 52 week low of $183.09 and a 52 week high of $263.66. The stock has a 50 day moving average price of $239.00 and a two-hundred day moving average price of $238.17. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.20. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the prior year, the company posted $2.95 earnings per share. Norfolk Southern’s revenue was up 2.1% compared to the same quarter last year. Equities analysts forecast that Norfolk Southern Co. will post 11.8 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 2nd were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Friday, August 2nd. Norfolk Southern’s payout ratio is currently 86.96%.

Analyst Ratings Changes

Several research firms have issued reports on NSC. TD Cowen raised their price target on shares of Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Wells Fargo & Company boosted their target price on shares of Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a report on Friday, July 26th. Susquehanna increased their price target on Norfolk Southern from $245.00 to $255.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. Benchmark boosted their price objective on Norfolk Southern from $266.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Finally, Morgan Stanley reiterated an “underweight” rating and issued a $175.00 target price on shares of Norfolk Southern in a report on Monday, July 8th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus target price of $264.24.

Insider Buying and Selling

In other news, Director Sameh Fahmy bought 700 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were purchased at an average price of $245.15 per share, with a total value of $171,605.00. Following the transaction, the director now directly owns 7,700 shares in the company, valued at $1,887,655. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other Norfolk Southern news, Director Sameh Fahmy bought 700 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was purchased at an average cost of $245.15 per share, with a total value of $171,605.00. Following the transaction, the director now directly owns 7,700 shares in the company, valued at approximately $1,887,655. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Richard H. Anderson purchased 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was bought at an average cost of $247.48 per share, for a total transaction of $494,960.00. Following the completion of the acquisition, the director now directly owns 3,000 shares in the company, valued at approximately $742,440. The disclosure for this purchase can be found here. Over the last ninety days, insiders have bought 4,700 shares of company stock worth $1,105,065. 0.19% of the stock is owned by insiders.

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.