Forsta AP Fonden Purchases 5,100 Shares of Norfolk Southern Co. (NYSE:NSC)

Forsta AP Fonden raised its position in Norfolk Southern Co. (NYSE:NSC) by 12.8% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 45,100 shares of the railroad operator’s stock after purchasing an additional 5,100 shares during the period. Forsta AP Fonden’s holdings in Norfolk Southern were worth $11,207,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the company. Mirae Asset Global Investments Co. Ltd. grew its position in Norfolk Southern by 20.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock worth $3,556,000 after buying an additional 2,453 shares in the last quarter. BKM Wealth Management LLC increased its position in shares of Norfolk Southern by 6.7% in the third quarter. BKM Wealth Management LLC now owns 6,894 shares of the railroad operator’s stock worth $1,713,000 after purchasing an additional 431 shares during the last quarter. Allworth Financial LP raised its stake in Norfolk Southern by 15.3% in the third quarter. Allworth Financial LP now owns 9,696 shares of the railroad operator’s stock valued at $2,410,000 after purchasing an additional 1,287 shares in the last quarter. Elwood & Goetz Wealth Advisory Group LLC purchased a new position in Norfolk Southern in the 3rd quarter worth approximately $432,000. Finally, Sigma Investment Counselors Inc. purchased a new stake in shares of Norfolk Southern during the 3rd quarter valued at $205,000. Institutional investors own 75.10% of the company’s stock.

Insider Transactions at Norfolk Southern

In related news, Director Sameh Fahmy purchased 1,000 shares of the stock in a transaction dated Thursday, October 24th. The stock was purchased at an average price of $255.00 per share, with a total value of $255,000.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at $2,550,000. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. 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 stock was sold at an average price of $255.98, for a total value of $13,138,173.50. Following the completion of the sale, 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 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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 cost of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the acquisition, the director now owns 10,000 shares of the company’s stock, valued at approximately $2,550,000. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $251.09 on Monday. 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’s fifty day moving average price is $249.22 and its 200-day moving average price is $236.79. The stock has a market cap of $56.72 billion, a PE ratio of 40.43, a price-to-earnings-growth ratio of 2.48 and a beta of 1.31. Norfolk Southern Co. has a 12 month low of $183.76 and a 12 month high of $263.66.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the prior year, the company earned $2.65 earnings per share. The business’s revenue was up 3.3% compared to the same quarter last year. On average, equities analysts expect that Norfolk Southern Co. will post 11.78 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s payout ratio is 86.96%.

Analysts Set New Price Targets

NSC has been the subject of several research reports. Morgan Stanley reiterated an “underweight” rating and issued a $175.00 target price on shares of Norfolk Southern in a research report on Monday, July 8th. Benchmark increased their price objective on Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Royal Bank of Canada raised their price objective on Norfolk Southern from $272.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. Jefferies Financial Group increased their target price on shares of Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Finally, Bank of America boosted their price target on shares of Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average price target of $274.16.

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.