E. Ohman J or Asset Management AB Trims Stake in Norfolk Southern Co. (NYSE:NSC)

E. Ohman J or Asset Management AB lessened its holdings in Norfolk Southern Co. (NYSE:NSC) by 11.4% in the third quarter, according to its most recent filing with the SEC. The institutional investor owned 5,283 shares of the railroad operator’s stock after selling 679 shares during the period. E. Ohman J or Asset Management AB’s holdings in Norfolk Southern were worth $1,313,000 as of its most recent SEC filing.

A number of other institutional investors have also bought and sold shares of the business. Eagle Ridge Investment Management increased its stake in Norfolk Southern by 1.1% in the 3rd quarter. Eagle Ridge Investment Management now owns 104,732 shares of the railroad operator’s stock worth $26,026,000 after buying an additional 1,178 shares in the last quarter. Dakota Wealth Management lifted its holdings in shares of Norfolk Southern by 2.1% in the 3rd quarter. Dakota Wealth Management now owns 7,206 shares of the railroad operator’s stock valued at $1,791,000 after acquiring an additional 150 shares during the last quarter. Assenagon Asset Management S.A. lifted its stake in Norfolk Southern by 4,083.0% in the third quarter. Assenagon Asset Management S.A. now owns 325,270 shares of the railroad operator’s stock worth $80,830,000 after purchasing an additional 317,494 shares during the last quarter. IFM Investors Pty Ltd lifted its stake in Norfolk Southern by 19.2% in the third quarter. IFM Investors Pty Ltd now owns 67,561 shares of the railroad operator’s stock worth $16,789,000 after purchasing an additional 10,890 shares during the last quarter. Finally, Pinnacle West Asset Management Inc. lifted its stake in Norfolk Southern by 1.6% in the third quarter. Pinnacle West Asset Management Inc. now owns 4,045 shares of the railroad operator’s stock worth $1,005,000 after purchasing an additional 65 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insider Activity at Norfolk Southern

In related news, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction on Friday, September 13th. The shares were sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the transaction, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction on Friday, September 13th. The shares were sold at an average price of $255.98, for a total value of $13,138,173.50. Following the completion of the transaction, the chief executive officer now owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sameh Fahmy acquired 1,000 shares of the business’s stock in a transaction on Thursday, October 24th. The stock was purchased at an average cost of $255.00 per share, with a total value of $255,000.00. Following the acquisition, the director now directly owns 10,000 shares of the company’s stock, valued at $2,550,000. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders acquired 3,700 shares of company stock worth $921,565 over the last three months. Company insiders own 0.19% of the company’s stock.

Norfolk Southern Trading Down 0.9 %

NYSE:NSC opened at $251.09 on Friday. Norfolk Southern Co. has a 12 month low of $183.76 and a 12 month high of $263.66. The firm has a fifty day simple moving average of $249.01 and a 200-day simple moving average of $236.99. The company has a current ratio of 0.73, a quick ratio of 0.54 and a debt-to-equity ratio of 1.21. The company has a market capitalization of $56.77 billion, a P/E ratio of 23.58, a PEG ratio of 2.48 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. The company had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The firm’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm posted $2.65 earnings per share. On average, equities research analysts anticipate that Norfolk Southern Co. will post 11.78 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a yield of 2.15%. Norfolk Southern’s dividend payout ratio is presently 50.70%.

Analyst Ratings Changes

NSC has been the subject of several analyst reports. Loop Capital raised their price objective on shares of Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a research note on Wednesday. Jefferies Financial Group raised their target price on shares of Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. JPMorgan Chase & Co. raised their target price on shares of Norfolk Southern from $283.00 to $288.00 and gave the stock an “overweight” rating in a research report on Wednesday. Bank of America raised their target price on shares of Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Royal Bank of Canada raised their target price on shares of Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus price target of $274.16.

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.