Handelsbanken Fonder AB Acquires 2,023 Shares of Norfolk Southern Corporation $NSC

Handelsbanken Fonder AB increased its holdings in Norfolk Southern Corporation (NYSE:NSC) by 1.7% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 123,304 shares of the railroad operator’s stock after acquiring an additional 2,023 shares during the period. Handelsbanken Fonder AB owned about 0.05% of Norfolk Southern worth $38,790,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. JPL Wealth Management LLC bought a new position in shares of Norfolk Southern in the third quarter valued at approximately $25,000. BNP Paribas bought a new stake in Norfolk Southern during the second quarter worth $26,000. Meeder Asset Management Inc. grew its holdings in Norfolk Southern by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock worth $27,000 after buying an additional 67 shares in the last quarter. Financial Life Planners purchased a new stake in Norfolk Southern in the 1st quarter valued at $33,000. Finally, Bayban bought a new position in Norfolk Southern during the 4th quarter valued at $34,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have issued reports on NSC shares. Robert W. Baird lifted their price objective on shares of Norfolk Southern from $360.00 to $377.00 and gave the stock a “neutral” rating in a report on Monday, July 27th. Weiss Ratings upgraded shares of Norfolk Southern from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday, July 24th. TD Cowen raised their price target on shares of Norfolk Southern from $337.00 to $376.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Wall Street Zen upgraded shares of Norfolk Southern from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, Evercore set a $358.00 price objective on shares of Norfolk Southern in a research report on Thursday, July 23rd. Seven equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat, Norfolk Southern has a consensus rating of “Hold” and a consensus target price of $348.00.

Norfolk Southern Trading Up 0.0%

Shares of Norfolk Southern stock opened at $334.08 on Wednesday. Norfolk Southern Corporation has a 1 year low of $268.23 and a 1 year high of $358.60. The firm has a market cap of $75.04 billion, a PE ratio of 28.51, a P/E/G ratio of 5.92 and a beta of 1.27. The stock has a fifty day moving average price of $323.24 and a 200-day moving average price of $310.50. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, topping analysts’ consensus estimates of $3.32 by $0.20. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The firm’s quarterly revenue was up 12.5% on a year-over-year basis. During the same period in the previous year, the firm earned $3.29 EPS. Equities research analysts anticipate that Norfolk Southern Corporation will post 12.66 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Friday, August 7th will be issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 7th. Norfolk Southern’s payout ratio is 46.08%.

About Norfolk Southern

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.