Andra AP fonden Trims Position in Norfolk Southern Corporation $NSC

Andra AP fonden decreased its holdings in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 67.3% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 19,973 shares of the railroad operator's stock after selling 41,040 shares during the period. Andra AP fonden's holdings in Norfolk Southern were worth $6,283,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of NSC. Edmond DE Rothschild Holding S.A. acquired a new position in Norfolk Southern during the second quarter worth $26,000. Meeder Asset Management Inc. purchased a new position in shares of Norfolk Southern in the 2nd quarter valued at about $27,000. Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Norfolk Southern in the second quarter valued at about $31,000. Kimelman & Baird LLC acquired a new stake in shares of Norfolk Southern in the second quarter valued at about $31,000. Finally, Financial Life Planners purchased a new stake in Norfolk Southern during the first quarter worth about $33,000. Hedge funds and other institutional investors own 75.10% of the company's stock.

Norfolk Southern Stock Up 0.4%

NSC stock opened at $315.17 on Thursday. The company has a 50 day moving average price of $334.66 and a two-hundred day moving average price of $316.08. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.73 and a current ratio of 0.83. The stock has a market capitalization of $70.79 billion, a P/E ratio of 26.89, a PEG ratio of 4.66 and a beta of 1.27. Norfolk Southern Corporation has a one year low of $277.80 and a one year high of $358.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating the consensus estimate of $3.32 by $0.20. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The firm had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same period in the prior year, the firm posted $3.29 earnings per share. The business's quarterly revenue was up 12.5% compared to the same quarter last year. As a group, sell-side analysts expect that Norfolk Southern Corporation will post 12.87 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were issued a $1.35 dividend. The ex-dividend date was Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a yield of 1.7%. Norfolk Southern's dividend payout ratio (DPR) is presently 46.08%.

Analyst Upgrades and Downgrades

Several equities analysts recently weighed in on NSC shares. Benchmark reaffirmed a "hold" rating on shares of Norfolk Southern in a research note on Friday, July 24th. Stephens raised Norfolk Southern to a "hold" rating in a research note on Wednesday, July 8th. Barclays boosted their price objective on shares of Norfolk Southern from $360.00 to $400.00 and gave the stock an "overweight" rating in a research report on Friday, July 24th. Weiss Ratings raised shares of Norfolk Southern from a "buy (b-)" rating to a "buy (b)" rating in a research note on Thursday, September 10th. Finally, JPMorgan Chase & Co. increased their price target on shares of Norfolk Southern from $316.00 to $338.00 and gave the company a "neutral" rating in a research report on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. According to MarketBeat, the company has an average rating of "Hold" and a consensus price target of $352.38.

Norfolk Southern Company Profile

Norfolk Southern Corporation is a major freight railroad company serving the eastern United States. Through its railway network, the company transports raw materials, intermediate goods and finished products for industrial, agricultural, manufacturing and consumer markets. Its operations connect customers with domestic markets, major ports and other rail carriers.

The company transports a diverse range of commodities, including intermodal containers, coal, automotive products, agriculture and consumer goods, chemicals, metals, forest products and construction materials.

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