Danske Bank A S Purchases New Shares in Norfolk Southern Corporation $NSC

Danske Bank A S acquired a new stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) in the 2nd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 107,083 shares of the railroad operator's stock, valued at approximately $33,687,000.

Other institutional investors also recently modified their holdings of the company. Brighton Jones LLC raised its position in shares of Norfolk Southern by 4.9% during the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator's stock valued at $400,000 after acquiring an additional 79 shares during the last quarter. Intech Investment Management LLC boosted its position 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 worth $1,527,000 after purchasing an additional 1,855 shares during the last quarter. Sivia Capital Partners LLC bought a new position in shares of Norfolk Southern in the 2nd quarter worth $327,000. Schnieders Capital Management LLC. grew its stake in shares of Norfolk Southern by 64.1% during the second 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 period. 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 during the period. 75.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on NSC shares. Evercore set a $358.00 price target on shares of Norfolk Southern in a research report on Thursday, July 23rd. Royal Bank Of Canada boosted their price objective on shares of Norfolk Southern from $320.00 to $360.00 and gave the company a "sector perform" rating in a report on Friday, July 24th. Stephens upgraded shares of Norfolk Southern to a "hold" rating in a report on Wednesday, July 8th. TD Cowen lifted their price target on shares of Norfolk Southern from $337.00 to $376.00 and gave the stock a "buy" rating in a research report on Friday, July 24th. Finally, UBS Group reissued a "neutral" rating and issued a $363.00 price target on shares of Norfolk Southern in a report on Friday, July 24th. Seven research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $348.00.

Norfolk Southern Stock Up 2.0%

Shares of Norfolk Southern stock opened at $345.56 on Thursday. The firm has a market cap of $77.62 billion, a PE ratio of 29.48, a P/E/G ratio of 6.00 and a beta of 1.27. The business's 50 day simple moving average is $326.76 and its 200 day simple moving average is $312.66. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.73 and a current ratio of 0.83. Norfolk Southern Corporation has a 52-week low of $268.23 and a 52-week high of $358.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.32 by $0.20. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The firm had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same period in the previous year, the business earned $3.29 EPS. The company's revenue was up 12.5% compared to the same quarter last year. On average, analysts predict that Norfolk Southern Corporation will post 12.66 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Friday, August 7th will be given a $1.35 dividend. The ex-dividend date of this dividend is Friday, August 7th. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. Norfolk Southern's dividend payout ratio is presently 46.08%.

About Norfolk Southern

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