Nordea Investment Management AB Boosts Holdings in Norfolk Southern Co. (NYSE:NSC)

Nordea Investment Management AB increased its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 8.3% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 18,940 shares of the railroad operator’s stock after buying an additional 1,451 shares during the period. Nordea Investment Management AB’s holdings in Norfolk Southern were worth $4,451,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in the business. Lake Street Advisors Group LLC boosted its holdings in Norfolk Southern by 1.8% in the third quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock valued at $563,000 after purchasing an additional 41 shares during the period. Raab & Moskowitz Asset Management LLC boosted its stake in shares of Norfolk Southern by 2.4% in the 3rd quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator’s stock valued at $435,000 after buying an additional 41 shares during the period. Foster Victor Wealth Advisors LLC grew its position in shares of Norfolk Southern by 4.2% during the third quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator’s stock worth $256,000 after buying an additional 42 shares in the last quarter. Stratos Investment Management LLC raised its holdings in Norfolk Southern by 3.8% in the third quarter. Stratos Investment Management LLC now owns 1,154 shares of the railroad operator’s stock valued at $287,000 after acquiring an additional 42 shares in the last quarter. Finally, Archer Investment Corp lifted its stake in Norfolk Southern by 2.3% in the third quarter. Archer Investment Corp now owns 1,934 shares of the railroad operator’s stock worth $481,000 after acquiring an additional 43 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Performance

NYSE NSC opened at $233.62 on Friday. The firm has a market cap of $52.85 billion, a P/E ratio of 21.94, a P/E/G ratio of 2.34 and a beta of 1.34. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60. The business’s 50-day moving average price is $253.27 and its 200 day moving average price is $245.41. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.14. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The company had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the business posted $2.65 EPS. The company’s revenue was up 3.3% on a year-over-year basis. On average, equities research analysts expect that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a yield of 2.31%. Norfolk Southern’s payout ratio is currently 50.70%.

Wall Street Analyst Weigh In

A number of brokerages have recently weighed in on NSC. Stephens restated an “equal weight” rating and issued a $263.00 price objective on shares of Norfolk Southern in a report on Wednesday, October 23rd. Sanford C. Bernstein raised their price target on Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Susquehanna lowered their price objective on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a research report on Wednesday. Wells Fargo & Company cut their target price on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday. Finally, Benchmark increased their price target on shares of Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. 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 company’s stock. Based on data from MarketBeat.com, Norfolk Southern currently has an average rating of “Moderate Buy” and an average price target of $275.68.

Insider Transactions at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy bought 350 shares of Norfolk Southern stock in a transaction on Thursday, December 12th. The stock was bought at an average price of $249.37 per share, with a total value of $87,279.50. Following the completion of the acquisition, the director now owns 10,350 shares in the company, valued at $2,580,979.50. The trade was a 3.50 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Company insiders own 0.19% of the company’s stock.

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.