Nordea Investment Management AB Boosts Holdings in Norfolk Southern Corporation $NSC

Nordea Investment Management AB lifted its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 10.6% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 21,685 shares of the railroad operator’s stock after buying an additional 2,087 shares during the quarter. Nordea Investment Management AB’s holdings in Norfolk Southern were worth $6,489,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of NSC. ORG Partners LLC raised its position in shares of Norfolk Southern by 75.0% in the 3rd quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock worth $25,000 after acquiring an additional 36 shares in the last quarter. BNP Paribas purchased a new stake in Norfolk Southern in the second quarter worth $26,000. Highline Wealth Partners LLC raised its holdings in Norfolk Southern by 68.9% in the third quarter. Highline Wealth Partners LLC now owns 103 shares of the railroad operator’s stock worth $31,000 after purchasing an additional 42 shares in the last quarter. True Wealth Design LLC lifted its position in Norfolk Southern by 423.8% during the second quarter. True Wealth Design LLC now owns 110 shares of the railroad operator’s stock valued at $28,000 after buying an additional 89 shares during the period. Finally, Financial Consulate Inc. bought a new stake in shares of Norfolk Southern during the 3rd quarter valued at $36,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at Norfolk Southern

In related news, Director William Jr. Clyburn bought 204 shares of the company’s stock in a transaction that occurred on Friday, December 5th. The shares were bought at an average price of $294.79 per share, for a total transaction of $60,137.16. Following the completion of the acquisition, the director owned 405 shares of the company’s stock, valued at $119,389.95. This trade 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. Also, EVP Anil Bhatt sold 900 shares of the firm’s stock in a transaction on Wednesday, November 19th. The stock was sold at an average price of $281.60, for a total value of $253,440.00. Following the completion of the transaction, the executive vice president owned 1,413 shares in the company, valued at approximately $397,900.80. This trade represents a 38.91% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have purchased 4,454 shares of company stock worth $1,259,874 in the last three months. 0.06% of the stock is currently owned by company insiders.

Norfolk Southern Stock Down 0.2%

Norfolk Southern stock opened at $290.09 on Friday. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $302.24. The stock has a fifty day simple moving average of $289.61 and a two-hundred day simple moving average of $284.04. The company has a current ratio of 0.86, a quick ratio of 0.78 and a debt-to-equity ratio of 1.09. The firm has a market cap of $65.09 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 5.09 and a beta of 1.33.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Thursday, October 23rd. The railroad operator reported $3.30 EPS for the quarter, missing the consensus estimate of $3.31 by ($0.01). Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.11 billion. During the same period last year, the business earned $3.25 earnings per share. The company’s quarterly revenue was up .0% on a year-over-year basis. Equities analysts predict that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Friday, November 7th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date of this dividend was Friday, November 7th. Norfolk Southern’s payout ratio is presently 41.19%.

Analyst Ratings Changes

A number of research analysts recently issued reports on the stock. Deutsche Bank Aktiengesellschaft cut shares of Norfolk Southern from a “buy” rating to a “hold” rating and lowered their price target for the company from $354.00 to $297.00 in a research report on Thursday, December 11th. UBS Group decreased their target price on shares of Norfolk Southern from $321.00 to $320.00 and set a “buy” rating for the company in a research note on Friday, October 24th. Sanford C. Bernstein dropped their price target on Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 11th. Barclays upped their price target on Norfolk Southern from $320.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Finally, Susquehanna lifted their price objective on Norfolk Southern from $288.00 to $304.00 and gave the company a “neutral” rating in a research note on Monday, January 12th. Eight equities research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and an average price target of $303.52.

Norfolk Southern 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.