Forsta AP Fonden Cuts Stock Position in Norfolk Southern Corporation $NSC

Forsta AP Fonden cut its holdings in Norfolk Southern Corporation (NYSE:NSC) by 4.4% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 44,160 shares of the railroad operator’s stock after selling 2,040 shares during the quarter. Forsta AP Fonden’s holdings in Norfolk Southern were worth $12,750,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. JPL Wealth Management LLC purchased a new position in shares of Norfolk Southern in the third quarter valued at $25,000. Westside Investment Management Inc. boosted its stake in Norfolk Southern by 207.1% during the third quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock worth $26,000 after buying an additional 58 shares during the period. GoalVest Advisory LLC boosted its stake in Norfolk Southern by 933.3% during the fourth quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock worth $27,000 after buying an additional 84 shares during the period. MMA Asset Management LLC purchased a new position in Norfolk Southern during the third quarter worth $28,000. Finally, FNY Investment Advisers LLC boosted its stake in Norfolk Southern by 669.2% during the third quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator’s stock worth $30,000 after buying an additional 87 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Stock Up 0.0%

NYSE:NSC opened at $304.99 on Monday. 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 stock has a fifty day simple moving average of $303.14 and a 200-day simple moving average of $298.38. The company has a market cap of $68.50 billion, a price-to-earnings ratio of 25.69, a price-to-earnings-growth ratio of 5.63 and a beta of 1.27. Norfolk Southern Corporation has a twelve month low of $241.82 and a twelve month high of $326.00.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, beating the consensus estimate of $2.49 by $0.16. The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the company posted $2.69 earnings per share. Analysts anticipate that Norfolk Southern Corporation will post 12.11 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.8%. The ex-dividend date was Friday, May 8th. Norfolk Southern’s payout ratio is presently 45.49%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on NSC shares. BMO Capital Markets lifted their price objective on shares of Norfolk Southern from $305.00 to $310.00 and gave the stock a “market perform” rating in a research note on Monday, April 27th. Royal Bank Of Canada lifted their price objective on shares of Norfolk Southern from $310.00 to $360.00 and gave the stock a “sector perform” rating in a research note on Friday, April 24th. Jefferies Financial Group dropped their price objective on shares of Norfolk Southern from $350.00 to $310.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Barclays lifted their price objective on shares of Norfolk Southern from $320.00 to $360.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Finally, TD Cowen lifted their price objective on shares of Norfolk Southern from $313.00 to $337.00 and gave the stock a “buy” rating in a research note on Monday, April 27th. Six investment analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus price target of $319.83.

About Norfolk Southern

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.