Forsta AP Fonden cut its holdings in shares of Norfolk Southern Corp. (NYSE:NSC) by 6.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 87,500 shares of the railroad operator’s stock after selling 6,200 shares during the period. Forsta AP Fonden’s holdings in Norfolk Southern were worth $13,201,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of the company. BlackRock Inc. increased its position in shares of Norfolk Southern by 1.6% in the 1st quarter. BlackRock Inc. now owns 21,254,266 shares of the railroad operator’s stock valued at $2,885,904,000 after acquiring an additional 329,245 shares during the period. FMR LLC increased its position in shares of Norfolk Southern by 8.6% in the 2nd quarter. FMR LLC now owns 7,036,787 shares of the railroad operator’s stock valued at $1,061,640,000 after acquiring an additional 555,871 shares during the period. American Century Companies Inc. increased its position in shares of Norfolk Southern by 1.9% in the 2nd quarter. American Century Companies Inc. now owns 1,331,269 shares of the railroad operator’s stock valued at $200,849,000 after acquiring an additional 25,275 shares during the period. Schwab Charles Investment Management Inc. increased its position in shares of Norfolk Southern by 1.2% in the 2nd quarter. Schwab Charles Investment Management Inc. now owns 1,074,816 shares of the railroad operator’s stock valued at $162,158,000 after acquiring an additional 13,072 shares during the period. Finally, Swiss National Bank increased its position in shares of Norfolk Southern by 2.3% in the 2nd quarter. Swiss National Bank now owns 939,247 shares of the railroad operator’s stock valued at $141,704,000 after acquiring an additional 21,100 shares during the period. 72.46% of the stock is currently owned by institutional investors and hedge funds.

In other Norfolk Southern news, VP Cynthia C. Earhart sold 2,370 shares of the company’s stock in a transaction on Wednesday, August 29th. The shares were sold at an average price of $175.09, for a total value of $414,963.30. Following the sale, the vice president now directly owns 2,370 shares of the company’s stock, valued at $414,963.30. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman James A. Squires sold 34,077 shares of the company’s stock in a transaction on Monday, August 13th. The shares were sold at an average price of $171.73, for a total transaction of $5,852,043.21. Following the completion of the sale, the chairman now directly owns 63,958 shares in the company, valued at $10,983,507.34. The disclosure for this sale can be found here. 0.36% of the stock is currently owned by corporate insiders.

NYSE:NSC opened at $179.40 on Friday. Norfolk Southern Corp. has a one year low of $125.59 and a one year high of $180.32. The company has a debt-to-equity ratio of 0.55, a quick ratio of 0.70 and a current ratio of 0.81. The firm has a market capitalization of $49.85 billion, a price-to-earnings ratio of 22.62, a price-to-earnings-growth ratio of 1.62 and a beta of 1.41.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Wednesday, July 25th. The railroad operator reported $2.50 EPS for the quarter, beating the consensus estimate of $2.31 by $0.19. Norfolk Southern had a net margin of 52.36% and a return on equity of 14.53%. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.87 billion. During the same period in the prior year, the company earned $1.71 earnings per share. The firm’s revenue was up 9.9% on a year-over-year basis. sell-side analysts anticipate that Norfolk Southern Corp. will post 9.13 earnings per share for the current year.

The firm also recently declared a quarterly dividend, which was paid on Monday, September 10th. Shareholders of record on Monday, August 6th were issued a $0.80 dividend. This represents a $3.20 annualized dividend and a yield of 1.78%. This is a positive change from Norfolk Southern’s previous quarterly dividend of $0.72. The ex-dividend date of this dividend was Friday, August 3rd. Norfolk Southern’s dividend payout ratio is presently 48.41%.

Several equities analysts recently issued reports on the company. Zacks Investment Research raised Norfolk Southern from a “hold” rating to a “buy” rating and set a $170.00 target price on the stock in a research report on Tuesday, June 26th. Stifel Nicolaus upped their target price on Norfolk Southern from $159.00 to $176.00 and gave the company a “hold” rating in a research report on Thursday, July 26th. Credit Suisse Group upped their target price on Norfolk Southern from $176.00 to $182.00 and gave the company an “outperform” rating in a research report on Thursday, July 26th. Citigroup raised Norfolk Southern from a “neutral” rating to a “buy” rating and set a $176.00 target price on the stock in a research report on Monday, June 25th. Finally, UBS Group upped their target price on Norfolk Southern from $182.00 to $189.00 and gave the company a “buy” rating in a research report on Thursday, July 26th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the stock. The stock presently has an average rating of “Hold” and an average target price of $164.42.

Norfolk Southern Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

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

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