Forsta AP Fonden Sells 2,040 Shares of Norfolk Southern Corporation $NSC

Forsta AP Fonden cut its position in Norfolk Southern Corporation (NYSE:NSC) by 4.4% in the fourth quarter, HoldingsChannel.com reports. The firm owned 44,160 shares of the railroad operator’s stock after selling 2,040 shares during the period. Forsta AP Fonden’s holdings in Norfolk Southern were worth $12,750,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NSC. Norges Bank bought a new position in Norfolk Southern in the fourth quarter worth about $1,084,701,000. Pentwater Capital Management LP bought a new position in Norfolk Southern in the third quarter worth about $826,128,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its holdings in Norfolk Southern by 545.2% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,306,203 shares of the railroad operator’s stock worth $392,396,000 after purchasing an additional 1,103,748 shares in the last quarter. Balyasny Asset Management L.P. bought a new position in Norfolk Southern in the third quarter worth about $329,629,000. Finally, TOMS Capital Investment Management LP purchased a new stake in shares of Norfolk Southern during the second quarter worth about $181,995,000. 75.10% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the company. Argus upgraded Norfolk Southern to a “hold” rating in a research note on Wednesday, February 25th. UBS Group set a $327.00 price target on Norfolk Southern in a research note on Thursday, May 7th. Robert W. Baird boosted their price target on Norfolk Southern from $315.00 to $330.00 and gave the stock a “neutral” rating in a research note on Tuesday, April 28th. Evercore set a $325.00 price target on Norfolk Southern in a research note on Friday, April 24th. Finally, Royal Bank Of Canada boosted their price target on Norfolk Southern from $310.00 to $360.00 and gave the stock a “sector perform” rating in a research note on Friday, April 24th. Six equities research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the company. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $319.83.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $304.99 on Monday. The business’s 50 day moving average price is $303.14 and its 200 day moving average price is $298.38. The firm has a market cap of $68.50 billion, a P/E ratio of 25.69, a P/E/G ratio of 5.63 and a beta of 1.27. Norfolk Southern Corporation has a 52 week low of $241.82 and a 52 week high of $326.00. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.Norfolk Southern’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the prior year, the firm earned $2.69 earnings per share. On average, sell-side analysts expect that Norfolk Southern Corporation will post 12.11 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a $1.35 dividend. The ex-dividend date was Friday, May 8th. This represents a $5.40 dividend on an annualized basis and a yield of 1.8%. Norfolk Southern’s dividend payout ratio is currently 45.49%.

Norfolk Southern Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.