Rakuten Investment Management Inc. Acquires Shares of 36,730 Norfolk Southern Corporation $NSC

Rakuten Investment Management Inc. acquired a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 36,730 shares of the railroad operator’s stock, valued at approximately $11,631,000.

A number of other institutional investors have also made changes to their positions in the company. Edmond DE Rothschild Holding S.A. acquired a new stake in Norfolk Southern during the 2nd quarter valued at $26,000. JPL Wealth Management LLC acquired a new position in Norfolk Southern in the 3rd quarter worth $25,000. Meeder Asset Management Inc. acquired a new position in Norfolk Southern in the 2nd quarter worth $27,000. Comprehensive Financial Planning Inc. PA purchased a new position in Norfolk Southern in the 2nd quarter valued at about $31,000. Finally, BNP Paribas purchased a new position in Norfolk Southern in the 2nd quarter valued at about $26,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

NSC has been the topic of a number of analyst reports. Citigroup lifted their target price on Norfolk Southern from $351.00 to $376.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Stephens raised Norfolk Southern to a “hold” rating in a report on Wednesday, July 8th. UBS Group restated a “neutral” rating and set a $363.00 price objective on shares of Norfolk Southern in a research note on Friday, July 24th. JPMorgan Chase & Co. increased their target price on Norfolk Southern from $316.00 to $338.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Finally, Evercore set a $358.00 price target on shares of Norfolk Southern in a research report on Thursday, July 23rd. Seven research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $348.00.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $348.67 on Friday. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.73 and a current ratio of 0.83. Norfolk Southern Corporation has a one year low of $268.23 and a one year high of $358.60. The company’s 50-day simple moving average is $332.87 and its 200-day simple moving average is $315.01. The stock has a market capitalization of $78.31 billion, a price-to-earnings ratio of 29.75, a PEG ratio of 5.22 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, beating the consensus estimate of $3.32 by $0.20. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same period in the previous year, the company earned $3.29 earnings per share. Norfolk Southern’s quarterly revenue was up 12.5% on a year-over-year basis. Equities analysts anticipate that Norfolk Southern Corporation will post 12.74 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.5%. The ex-dividend date was Friday, August 7th. Norfolk Southern’s payout ratio is 46.08%.

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.