Norfolk Southern Corporation (NYSE:NSC) Shares Sold by Forsta AP Fonden

Forsta AP Fonden cut its stake in Norfolk Southern Corporation (NYSE:NSC) by 5.3% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 42,900 shares of the railroad operator’s stock after selling 2,400 shares during the quarter. Forsta AP Fonden’s holdings in Norfolk Southern were worth $10,161,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of NSC. GAMMA Investing LLC lifted its holdings in Norfolk Southern by 25,555.7% in the first quarter. GAMMA Investing LLC now owns 989,796 shares of the railroad operator’s stock valued at $234,433,000 after acquiring an additional 985,938 shares during the period. Price T Rowe Associates Inc. MD lifted its holdings in Norfolk Southern by 11.9% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,608,080 shares of the railroad operator’s stock valued at $2,020,318,000 after acquiring an additional 918,559 shares during the period. The Manufacturers Life Insurance Company lifted its holdings in Norfolk Southern by 293.7% in the fourth quarter. The Manufacturers Life Insurance Company now owns 671,680 shares of the railroad operator’s stock valued at $157,643,000 after acquiring an additional 501,053 shares during the period. Phoenix Financial Ltd. acquired a new position in Norfolk Southern in the first quarter valued at approximately $110,209,000. Finally, Northern Trust Corp lifted its holdings in Norfolk Southern by 8.9% in the fourth quarter. Northern Trust Corp now owns 2,870,443 shares of the railroad operator’s stock valued at $673,693,000 after acquiring an additional 233,927 shares during the period. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Stock Down 0.2%

Shares of NSC opened at $279.82 on Friday. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.71 and a current ratio of 0.79. The stock has a 50 day moving average price of $263.58 and a 200 day moving average price of $245.83. The stock has a market capitalization of $62.85 billion, a price-to-earnings ratio of 18.91, a PEG ratio of 2.48 and a beta of 1.31. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $288.11.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.24 by $0.05. The company had revenue of $3.11 billion during the quarter, compared to analysts’ expectations of $3.10 billion. Norfolk Southern had a return on equity of 19.35% and a net margin of 27.51%. Equities research analysts forecast that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Shareholders of record on Friday, August 1st will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, August 1st. Norfolk Southern’s dividend payout ratio is presently 36.49%.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on the company. Bank of America upped their target price on Norfolk Southern from $290.00 to $305.00 and gave the stock a “buy” rating in a research note on Thursday, July 17th. Sanford C. Bernstein upped their target price on Norfolk Southern from $295.00 to $305.00 and gave the stock an “outperform” rating in a research note on Monday, July 21st. Baird R W raised Norfolk Southern to a “hold” rating in a research note on Tuesday, July 1st. Citigroup upped their target price on Norfolk Southern from $288.00 to $305.00 and gave the stock a “neutral” rating in a research note on Wednesday, July 30th. Finally, JPMorgan Chase & Co. reaffirmed a “neutral” rating and set a $288.00 target price (up from $282.00) on shares of Norfolk Southern in a research note on Wednesday, July 30th. Fourteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat, Norfolk Southern presently has an average rating of “Hold” and a consensus price target of $285.15.

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.