Swedbank AB Sells 262 Shares of Norfolk Southern Co. (NYSE:NSC)

Swedbank AB trimmed its stake in Norfolk Southern Co. (NYSE:NSC) by 0.2% during the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 126,005 shares of the railroad operator’s stock after selling 262 shares during the period. Swedbank AB owned 0.06% of Norfolk Southern worth $31,312,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in NSC. Highline Wealth Partners LLC acquired a new position in shares of Norfolk Southern during the 3rd quarter worth about $25,000. 1620 Investment Advisors Inc. bought a new position in Norfolk Southern in the 2nd quarter worth approximately $27,000. Financial Connections Group Inc. acquired a new position in shares of Norfolk Southern during the second quarter worth approximately $31,000. HWG Holdings LP bought a new stake in shares of Norfolk Southern in the second quarter valued at approximately $31,000. Finally, Coastline Trust Co acquired a new stake in shares of Norfolk Southern in the third quarter worth $32,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have weighed in on NSC. Stifel Nicolaus increased their price target on shares of Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a report on Friday, October 11th. Susquehanna increased their target price on shares of Norfolk Southern from $280.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. JPMorgan Chase & Co. boosted their price target on Norfolk Southern from $283.00 to $288.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. UBS Group raised their price objective on Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Finally, Barclays boosted their price objective on Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Norfolk Southern currently has a consensus rating of “Moderate Buy” and an average target price of $275.68.

Norfolk Southern Price Performance

Shares of NSC stock opened at $275.87 on Tuesday. The stock’s fifty day moving average is $254.48 and its 200-day moving average is $240.30. 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 Co. has a 52 week low of $206.71 and a 52 week high of $277.60. The stock has a market capitalization of $62.41 billion, a PE ratio of 25.90, a PEG ratio of 2.55 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data 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 net margin of 19.85% and a return on equity of 20.25%. The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter last year, the company posted $2.65 EPS. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. Equities research analysts expect that Norfolk Southern Co. will post 11.82 EPS for the current fiscal 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 issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.96%. The ex-dividend date was Friday, November 1st. Norfolk Southern’s dividend payout ratio is 50.70%.

Insider Buying and Selling at Norfolk Southern

In other news, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This trade represents a 59.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, Director Sameh Fahmy purchased 1,000 shares of the stock in a transaction dated Thursday, October 24th. The shares were acquired at an average price of $255.00 per share, with a total value of $255,000.00. Following the transaction, the director now owns 10,000 shares in the company, valued at $2,550,000. This trade represents a 11.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

About Norfolk Southern

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.