Norfolk Southern Corporation $NSC Shares Sold by Handelsbanken Fonder AB

Handelsbanken Fonder AB lessened its holdings in Norfolk Southern Corporation (NYSE:NSC) by 3.8% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 114,378 shares of the railroad operator’s stock after selling 4,484 shares during the period. Handelsbanken Fonder AB owned about 0.05% of Norfolk Southern worth $34,360,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. ORG Partners LLC raised its position in Norfolk Southern by 75.0% in the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock valued at $25,000 after purchasing an additional 36 shares during the period. Westside Investment Management Inc. grew its stake in shares of Norfolk Southern by 207.1% in the third quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock valued at $26,000 after buying an additional 58 shares in the last quarter. BNP Paribas purchased a new stake in shares of Norfolk Southern during the 2nd quarter valued at about $26,000. True Wealth Design LLC lifted its position in Norfolk Southern by 423.8% during the 2nd quarter. True Wealth Design LLC now owns 110 shares of the railroad operator’s stock worth $28,000 after acquiring an additional 89 shares in the last quarter. Finally, MMA Asset Management LLC purchased a new position in Norfolk Southern in the 3rd quarter worth approximately $28,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Stock Up 0.3%

Shares of Norfolk Southern stock opened at $314.01 on Friday. The business has a 50-day moving average price of $297.95 and a 200 day moving average price of $290.42. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $319.94. The firm has a market cap of $70.52 billion, a P/E ratio of 24.63, a P/E/G ratio of 5.64 and a beta of 1.34. The company has a quick ratio of 0.78, a current ratio of 0.85 and a debt-to-equity ratio of 1.06.

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 return on equity of 18.78% and a net margin of 23.59%.The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter last year, the business posted $3.04 EPS. Norfolk Southern’s quarterly revenue was down 1.7% compared to the same quarter last year. On average, sell-side analysts forecast that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were issued 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 of this dividend was Friday, February 6th. Norfolk Southern’s dividend payout ratio is 42.35%.

Insider Activity

In other Norfolk Southern news, Director William Jr. Clyburn purchased 204 shares of Norfolk Southern stock in a transaction dated Friday, December 5th. The shares were bought at an average cost of $294.79 per share, for a total transaction of $60,137.16. Following the transaction, the director owned 405 shares in the company, valued at $119,389.95. This represents a 101.49% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Insiders own 0.06% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NSC. Barclays dropped their price objective on shares of Norfolk Southern from $340.00 to $320.00 and set an “overweight” rating on the stock in a research note on Friday, January 30th. JPMorgan Chase & Co. cut their price objective on shares of Norfolk Southern from $301.00 to $296.00 and set a “neutral” rating on the stock in a report on Friday, January 30th. Robert W. Baird decreased their price objective on shares of Norfolk Southern from $293.00 to $288.00 and set a “neutral” rating for the company in a research report on Friday, January 30th. Morgan Stanley raised Norfolk Southern from an “equal weight” rating to a “buy” rating in a research report on Thursday, December 18th. Finally, Benchmark reissued a “hold” rating on shares of Norfolk Southern in a report on Friday, January 30th. Seven research analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and an average target price 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.