Norfolk Southern Corporation $NSC Position Lessened by Handelsbanken Fonder AB

Handelsbanken Fonder AB lowered its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 3.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 114,378 shares of the railroad operator’s stock after selling 4,484 shares during the quarter. Handelsbanken Fonder AB’s holdings in Norfolk Southern were worth $34,360,000 at the end of the most recent reporting period.

Several other large investors have also recently added to or reduced their stakes in NSC. ORG Partners LLC grew its position in shares of Norfolk Southern by 75.0% during the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock worth $25,000 after acquiring an additional 36 shares during the last quarter. Westside Investment Management Inc. lifted its position in Norfolk Southern by 207.1% in the 3rd quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock valued at $26,000 after purchasing an additional 58 shares during the last quarter. MMA Asset Management LLC bought a new stake in Norfolk Southern in the 3rd quarter valued at about $28,000. BNP Paribas acquired a new position in Norfolk Southern during the 2nd quarter valued at about $26,000. Finally, Highline Wealth Partners LLC grew its position in Norfolk Southern by 68.9% in the 3rd quarter. Highline Wealth Partners LLC now owns 103 shares of the railroad operator’s stock worth $31,000 after purchasing an additional 42 shares during the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $314.01 on Friday. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $319.94. The company has a current ratio of 0.85, a quick ratio of 0.78 and a debt-to-equity ratio of 1.06. The firm has a 50-day moving average of $297.95 and a two-hundred day moving average of $290.42. The company has a market capitalization of $70.52 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 5.64 and a beta of 1.34.

Norfolk Southern (NYSE:NSC) last released its earnings results on Thursday, January 29th. The railroad operator reported $3.22 EPS for the quarter, topping analysts’ consensus estimates of $2.76 by $0.46. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same period in the previous year, the firm earned $3.04 EPS. The business’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, analysts expect that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 6th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, February 6th. Norfolk Southern’s dividend payout ratio is 42.35%.

Insider Buying and Selling at Norfolk Southern

In related news, Director William Jr. Clyburn acquired 204 shares of Norfolk Southern stock in a transaction dated Friday, December 5th. The stock was acquired at an average cost of $294.79 per share, with a total value of $60,137.16. Following the purchase, the director directly owned 405 shares in the company, valued at $119,389.95. The trade was a 101.49% increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.06% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on NSC. UBS Group cut Norfolk Southern from a “buy” rating to a “neutral” rating and set a $342.00 price target on the stock. in a report on Friday, February 6th. Robert W. Baird lowered their target price on Norfolk Southern from $293.00 to $288.00 and set a “neutral” rating on the stock in a research report on Friday, January 30th. Wolfe Research lifted their target price on Norfolk Southern from $361.00 to $368.00 and gave the company an “outperform” rating in a research note on Thursday, January 8th. Benchmark reiterated a “hold” rating on shares of Norfolk Southern in a research report on Friday, January 30th. Finally, Morgan Stanley raised Norfolk Southern from an “equal weight” rating to a “buy” rating in a report on Thursday, December 18th. Seven analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $304.47.

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.