Andra AP fonden Boosts Stock Holdings in Norfolk Southern Corporation $NSC

Key Points

• Andra AP fonden boosted its Norfolk Southern stake by 253.9% in the first quarter, ending with 61,013 shares valued at about $17.5 million.
• Other institutional investors also increased or initiated positions, and overall hedge funds and other institutions own 75.10% of Norfolk Southern’s stock.
• Analysts are mixed on the railroad operator: the consensus rating is Hold with a $329.35 price target, while the stock recently traded around $335.11 after the company reported earnings that beat EPS estimates but missed revenue expectations.

Andra AP fonden increased its stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 253.9% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 61,013 shares of the railroad operator's stock after purchasing an additional 43,773 shares during the quarter. Andra AP fonden's holdings in Norfolk Southern were worth $17,511,000 at the end of the most recent quarter.

Other large investors also recently bought and sold shares of the company. Brighton Jones LLC grew its holdings in Norfolk Southern by 4.9% during the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator's stock worth $400,000 after acquiring an additional 79 shares in the last quarter. Intech Investment Management LLC raised its holdings in shares of Norfolk Southern by 40.4% in the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator's stock valued at $1,527,000 after purchasing an additional 1,855 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Norfolk Southern during the 2nd quarter worth $327,000. Schnieders Capital Management LLC. lifted its position in shares of Norfolk Southern by 64.1% during the 2nd quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator's stock worth $1,094,000 after purchasing an additional 1,670 shares during the last quarter. Finally, Jump Financial LLC grew its stake in shares of Norfolk Southern by 185.1% during the second quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator's stock worth $1,174,000 after purchasing an additional 2,979 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company's stock.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the company. Barclays increased their target price on Norfolk Southern from $320.00 to $360.00 and gave the company an "overweight" rating in a report on Monday, April 27th. Jefferies Financial Group reduced their target price on Norfolk Southern from $350.00 to $310.00 and set a "hold" rating for the company in a report on Monday, April 6th. Weiss Ratings cut shares of Norfolk Southern from a "buy (b-)" rating to a "hold (c+)" rating in a research note on Monday, April 27th. Sanford C. Bernstein lowered their target price on Norfolk Southern from $322.00 to $313.00 and set an "outperform" rating on the stock in a research note on Tuesday, March 31st. Finally, Robert W. Baird lifted their target price on shares of Norfolk Southern from $330.00 to $360.00 and gave the company a "neutral" rating in a report on Friday, July 10th. Six equities research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $329.35.

Norfolk Southern Trading Down 1.5%

Shares of Norfolk Southern stock opened at $335.11 on Tuesday. The company has a 50-day moving average of $315.26 and a two-hundred day moving average of $304.81. Norfolk Southern Corporation has a 12-month low of $268.23 and a 12-month high of $342.53. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The stock has a market cap of $75.26 billion, a PE ratio of 28.23, a price-to-earnings-growth ratio of 6.22 and a beta of 1.27.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping the consensus estimate of $2.49 by $0.16. The business 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%.The company's quarterly revenue was up .2% on a year-over-year basis. During the same quarter in the previous year, the company earned $2.69 EPS. On average, research analysts anticipate that Norfolk Southern Corporation will post 12.24 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern's payout ratio is 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.

Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Southern Corporation (NYSE:NSC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source