Swedbank AB Has $29.31 Million Holdings in Norfolk Southern Co. (NYSE:NSC)

Swedbank AB trimmed its position in shares of Norfolk Southern Co. (NYSE:NSC) by 0.9% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 124,882 shares of the railroad operator’s stock after selling 1,123 shares during the period. Swedbank AB owned 0.06% of Norfolk Southern worth $29,310,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. NewEdge Advisors LLC raised its stake in Norfolk Southern by 5.1% in the second quarter. NewEdge Advisors LLC now owns 16,099 shares of the railroad operator’s stock valued at $3,456,000 after purchasing an additional 784 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in Norfolk Southern by 3.4% during the second quarter. Northwestern Mutual Wealth Management Co. now owns 29,528 shares of the railroad operator’s stock worth $6,339,000 after purchasing an additional 960 shares during the period. Strategic Investment Solutions Inc. IL bought a new stake in Norfolk Southern in the second quarter valued at $39,000. Creekside Partners acquired a new position in shares of Norfolk Southern during the second quarter worth approximately $211,000. Finally, Sanctuary Advisors LLC bought a new position in Norfolk Southern in the 2nd quarter valued at about $9,937,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently issued reports on NSC shares. Robert W. Baird boosted their price target on shares of Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a research report on Thursday. Sanford C. Bernstein lifted their target price on shares of Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Benchmark reiterated a “buy” rating and issued a $285.00 price target on shares of Norfolk Southern in a report on Thursday. JPMorgan Chase & Co. boosted their target price on shares of Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a report on Thursday. Finally, Wells Fargo & Company lowered their target price on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a research note on Tuesday, January 7th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, Norfolk Southern has an average rating of “Moderate Buy” and a consensus target price of $277.74.

Norfolk Southern Stock Up 0.3 %

NSC opened at $257.50 on Friday. The firm has a 50 day moving average price of $249.36 and a 200 day moving average price of $248.69. The company has a market cap of $58.26 billion, a PE ratio of 24.18, a price-to-earnings-growth ratio of 2.29 and a beta of 1.34. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.65 and a current ratio of 0.73.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. Sell-side analysts expect that Norfolk Southern Co. will post 11.78 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Friday, February 7th will be issued a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.10%. Norfolk Southern’s payout ratio is presently 50.70%.

Insider Activity

In other news, Director Sameh Fahmy acquired 350 shares of the firm’s stock in a transaction dated Thursday, December 12th. The shares were bought at an average price of $249.37 per share, with a total value of $87,279.50. Following the acquisition, the director now owns 10,350 shares of the company’s stock, valued at $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 0.19% of the stock is currently owned by corporate insiders.

Norfolk Southern 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.