Norfolk Southern Corporation $NSC Shares Purchased by Swedbank AB

Swedbank AB raised its position in Norfolk Southern Corporation (NYSE:NSC) by 1.1% in the first quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 151,090 shares of the railroad operator’s stock after acquiring an additional 1,588 shares during the quarter. Swedbank AB owned approximately 0.07% of Norfolk Southern worth $43,363,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NSC. Louisiana State Employees Retirement System acquired a new position in shares of Norfolk Southern during the first quarter worth $3,272,000. O Shaughnessy Asset Management LLC raised its stake in Norfolk Southern by 9.8% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock valued at $12,533,000 after buying an additional 3,887 shares in the last quarter. Farallon Capital Management LLC acquired a new stake in Norfolk Southern in the third quarter valued at $184,752,000. Angelo Gordon & CO. L.P. purchased a new stake in Norfolk Southern during the 3rd quarter worth about $1,464,000. Finally, Brevan Howard Capital Management LP lifted its holdings in Norfolk Southern by 126.6% during the 3rd quarter. Brevan Howard Capital Management LP now owns 15,413 shares of the railroad operator’s stock worth $4,630,000 after buying an additional 8,612 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Down 1.0%

Shares of NYSE:NSC opened at $319.66 on Thursday. Norfolk Southern Corporation has a 1-year low of $257.49 and a 1-year high of $326.00. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. The stock has a market cap of $71.79 billion, a P/E ratio of 26.93, a P/E/G ratio of 5.96 and a beta of 1.27. The firm has a fifty day moving average price of $312.59 and a 200 day moving average price of $302.61.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period in the previous year, the business posted $2.69 earnings per share. Norfolk Southern’s quarterly revenue was up .2% on a year-over-year basis. Sell-side analysts predict that Norfolk Southern Corporation will post 12.12 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. Norfolk Southern’s dividend payout ratio (DPR) is currently 45.49%.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on NSC shares. Robert W. Baird increased their price objective on Norfolk Southern from $315.00 to $330.00 and gave the company a “neutral” rating in a report on Tuesday, April 28th. Susquehanna boosted their target price on Norfolk Southern from $330.00 to $337.00 and gave the stock a “neutral” rating in a research note on Friday, June 5th. Citigroup reaffirmed a “neutral” rating on shares of Norfolk Southern in a report on Friday, April 24th. Evercore set a $325.00 price target on shares of Norfolk Southern in a research note on Friday, April 24th. Finally, Wall Street Zen raised shares of Norfolk Southern from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Seven research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to MarketBeat, Norfolk Southern currently has an average rating of “Hold” and a consensus target price of $322.83.

Norfolk Southern Company Profile

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.