Fjarde AP Fonden Fourth Swedish National Pension Fund Has $19.73 Million Stake in Norfolk Southern Corporation $NSC

Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 30.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 68,752 shares of the railroad operator’s stock after purchasing an additional 16,040 shares during the period. Fjarde AP Fonden Fourth Swedish National Pension Fund’s holdings in Norfolk Southern were worth $19,732,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. Elevation Point Wealth Partners LLC increased its position in Norfolk Southern by 449.3% in the 1st quarter. Elevation Point Wealth Partners LLC now owns 11,546 shares of the railroad operator’s stock valued at $3,314,000 after buying an additional 9,444 shares in the last quarter. Keybank National Association OH raised its stake in shares of Norfolk Southern by 12.5% during the 1st quarter. Keybank National Association OH now owns 128,775 shares of the railroad operator’s stock worth $36,958,000 after purchasing an additional 14,326 shares during the period. Root Financial Partners LLC lifted its stake in Norfolk Southern by 7.8% in the first quarter. Root Financial Partners LLC now owns 1,084 shares of the railroad operator’s stock valued at $311,000 after purchasing an additional 78 shares during the last quarter. EJMK Ventures LLC raised its position in shares of Norfolk Southern by 4.3% in the first quarter. EJMK Ventures LLC now owns 1,580 shares of the railroad operator’s stock valued at $453,000 after purchasing an additional 65 shares during the period. Finally, RKL Wealth Management LLC purchased a new position in Norfolk Southern during the 1st quarter valued at about $302,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on NSC shares. Weiss Ratings cut shares of Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Monday, April 27th. Royal Bank Of Canada lowered their price objective on Norfolk Southern from $360.00 to $320.00 and set a “sector perform” rating for the company in a research report on Wednesday, June 24th. Robert W. Baird boosted their target price on Norfolk Southern from $315.00 to $330.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Evercore set a $325.00 price target on Norfolk Southern in a research note on Friday, April 24th. Finally, Sanford C. Bernstein reduced their price objective on shares of Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating on the stock in a research report on Tuesday, March 31st. Six analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to data from MarketBeat.com, Norfolk Southern has a consensus rating of “Hold” and a consensus price target of $320.35.

Norfolk Southern Price Performance

NSC opened at $322.85 on Friday. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The company has a market cap of $72.51 billion, a price-to-earnings ratio of 27.20, a price-to-earnings-growth ratio of 5.96 and a beta of 1.27. The stock has a fifty day simple moving average of $312.52 and a two-hundred day simple moving average of $302.00. Norfolk Southern Corporation has a 12-month low of $257.49 and a 12-month high of $326.00.

Norfolk Southern (NYSE:NSC) last released its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. The firm had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The company’s revenue was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.69 EPS. Research analysts predict that Norfolk Southern Corporation will post 12.12 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.7%. The ex-dividend date was Friday, May 8th. Norfolk Southern’s dividend payout ratio is 45.49%.

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.