Sumitomo Life Insurance Co. Has $1.80 Million Stock Position in Norfolk Southern Corp. (NYSE:NSC)

Sumitomo Life Insurance Co. lifted its stake in Norfolk Southern Corp. (NYSE:NSC) by 4.1% during the second quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,013 shares of the railroad operator’s stock after acquiring an additional 356 shares during the quarter. Sumitomo Life Insurance Co.’s holdings in Norfolk Southern were worth $1,797,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Eagle Global Advisors LLC grew its holdings in Norfolk Southern by 2.0% during the first quarter. Eagle Global Advisors LLC now owns 2,550 shares of the railroad operator’s stock worth $477,000 after purchasing an additional 50 shares during the period. Harfst & Associates Inc. grew its holdings in Norfolk Southern by 3.7% during the first quarter. Harfst & Associates Inc. now owns 1,394 shares of the railroad operator’s stock worth $260,000 after purchasing an additional 50 shares during the period. Alera Investment Advisors LLC grew its holdings in Norfolk Southern by 4.8% during the first quarter. Alera Investment Advisors LLC now owns 1,129 shares of the railroad operator’s stock worth $211,000 after purchasing an additional 52 shares during the period. Telemus Capital LLC grew its holdings in Norfolk Southern by 3.5% during the first quarter. Telemus Capital LLC now owns 1,618 shares of the railroad operator’s stock worth $302,000 after purchasing an additional 55 shares during the period. Finally, Bigelow Investment Advisors LLC grew its holdings in Norfolk Southern by 1.0% during the second quarter. Bigelow Investment Advisors LLC now owns 5,409 shares of the railroad operator’s stock worth $1,078,000 after purchasing an additional 55 shares during the period. 73.30% of the stock is currently owned by institutional investors and hedge funds.

Shares of NYSE:NSC traded down $3.62 during trading on Wednesday, reaching $177.74. 1,146,350 shares of the stock were exchanged, compared to its average volume of 2,118,441. Norfolk Southern Corp. has a 12 month low of $138.65 and a 12 month high of $211.46. The company has a market cap of $47.95 billion, a price-to-earnings ratio of 18.69, a PEG ratio of 1.47 and a beta of 1.31. The company’s 50-day moving average is $195.16. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.68 and a current ratio of 0.78.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Wednesday, July 24th. The railroad operator reported $2.70 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.77 by ($0.07). The firm had revenue of $2.93 billion for the quarter, compared to the consensus estimate of $2.95 billion. Norfolk Southern had a return on equity of 18.24% and a net margin of 24.15%. The company’s revenue was up .9% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.50 EPS. On average, analysts anticipate that Norfolk Southern Corp. will post 10.67 earnings per share for the current year.

The business also recently declared a quarterly dividend, which will be paid on Tuesday, September 10th. Investors of record on Monday, August 5th will be paid a $0.94 dividend. This is a boost from Norfolk Southern’s previous quarterly dividend of $0.86. This represents a $3.76 annualized dividend and a dividend yield of 2.12%. The ex-dividend date of this dividend is Friday, August 2nd. Norfolk Southern’s payout ratio is 39.54%.

A number of research firms recently commented on NSC. TD Securities reduced their price target on Norfolk Southern from $225.00 to $220.00 and set a “buy” rating for the company in a report on Thursday, July 25th. Morgan Stanley set a $130.00 price target on Norfolk Southern and gave the stock a “sell” rating in a report on Monday, July 8th. Loop Capital lifted their price target on Norfolk Southern to $237.00 and gave the stock a “buy” rating in a report on Thursday, April 25th. Cascend Securities cut Norfolk Southern from a “buy” rating to a “hold” rating in a report on Wednesday, July 17th. Finally, Barclays lifted their price target on Norfolk Southern from $200.00 to $210.00 and gave the stock an “equal weight” rating in a report on Thursday, April 25th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company. The stock currently has an average rating of “Hold” and a consensus target price of $205.83.

In related news, Director Jennifer F. Scanlon purchased 525 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was acquired at an average cost of $191.52 per share, for a total transaction of $100,548.00. Following the completion of the purchase, the director now owns 525 shares in the company, valued at approximately $100,548. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman James A. Squires sold 3,024 shares of the business’s stock in a transaction that occurred on Tuesday, May 21st. The shares were sold at an average price of $204.71, for a total value of $619,043.04. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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