Swedbank AB Sells 262 Shares of Norfolk Southern Co. (NYSE:NSC)

Swedbank AB decreased its holdings in Norfolk Southern Co. (NYSE:NSC) by 0.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 126,005 shares of the railroad operator’s stock after selling 262 shares during the period. Swedbank AB’s holdings in Norfolk Southern were worth $31,312,000 at the end of the most recent reporting period.

A number of other large investors also recently added to or reduced their stakes in the business. Seven Eight Capital LP bought a new position in shares of Norfolk Southern during the second quarter worth $1,676,000. Manning & Napier Advisors LLC bought a new position in shares of Norfolk Southern during the 2nd quarter valued at approximately $13,627,000. Broderick Brian C purchased a new stake in Norfolk Southern during the 1st quarter valued at $956,000. OFI Invest Asset Management bought a new position in Norfolk Southern during the second quarter valued at $846,000. Finally, Hoxton Planning & Management LLC purchased a new position in shares of Norfolk Southern during the 3rd quarter worth about $583,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Trading Up 0.5 %

Shares of NYSE NSC opened at $255.65 on Thursday. The stock has a fifty day simple moving average of $247.44 and a 200-day simple moving average of $236.78. Norfolk Southern Co. has a twelve month low of $183.09 and a twelve month high of $263.66. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30. The stock has a market capitalization of $57.75 billion, a PE ratio of 41.17, a PEG ratio of 2.33 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.20. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The business’s quarterly revenue was up 2.1% on a year-over-year basis. During the same quarter last year, the company earned $2.95 EPS. On average, equities analysts forecast that Norfolk Southern Co. will post 11.79 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 2nd were issued a dividend of $1.35 per share. The ex-dividend date was Friday, August 2nd. This represents a $5.40 annualized dividend and a yield of 2.11%. Norfolk Southern’s dividend payout ratio is currently 86.96%.

Insider Activity at Norfolk Southern

In related news, Director Sameh Fahmy bought 700 shares of the company’s stock in a transaction on Thursday, August 1st. The stock was bought at an average cost of $245.15 per share, with a total value of $171,605.00. Following the completion of the acquisition, the director now owns 7,700 shares in the company, valued at approximately $1,887,655. This represents a 0.00 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, Director Sameh Fahmy acquired 700 shares of Norfolk Southern stock in a transaction dated Thursday, August 1st. The shares were acquired at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the transaction, the director now directly owns 7,700 shares of the company’s stock, valued at $1,887,655. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $255.98, for a total value of $13,138,173.50. Following the transaction, the chief executive officer now directly owns 35,045 shares in the company, valued at approximately $8,970,819.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on NSC. Citigroup began coverage on shares of Norfolk Southern in a research note on Wednesday, October 9th. They set a “buy” rating and a $294.00 target price for the company. Sanford C. Bernstein increased their price target on Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Royal Bank of Canada increased their target price on Norfolk Southern from $267.00 to $272.00 and gave the company an “outperform” rating in a research report on Monday, September 30th. Benchmark raised their price objective on Norfolk Southern from $266.00 to $270.00 and gave the company a “buy” rating in a research report on Monday, July 29th. Finally, Stifel Nicolaus raised their price target on shares of Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a report on Friday, October 11th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat, Norfolk Southern has an average rating of “Moderate Buy” and a consensus target price of $266.17.

Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.