Handelsbanken Fonder AB Sells 3,696 Shares of Norfolk Southern Co. (NYSE:NSC)

Handelsbanken Fonder AB decreased its position in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 2.8% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 126,845 shares of the railroad operator's stock after selling 3,696 shares during the period. Handelsbanken Fonder AB owned 0.05% of Norfolk Southern worth $30,043,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of NSC. Brighton Jones LLC raised its holdings 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 purchasing an additional 79 shares in the last quarter. Kingsview Wealth Management LLC increased its holdings in shares of Norfolk Southern by 4.1% during the 4th quarter. Kingsview Wealth Management LLC now owns 9,078 shares of the railroad operator's stock valued at $2,130,000 after acquiring an additional 360 shares during the last quarter. Stephens Inc. AR raised its stake in shares of Norfolk Southern by 0.6% in the 4th quarter. Stephens Inc. AR now owns 9,340 shares of the railroad operator's stock valued at $2,192,000 after acquiring an additional 59 shares in the last quarter. Kestra Private Wealth Services LLC lifted its holdings in Norfolk Southern by 13.9% in the 4th quarter. Kestra Private Wealth Services LLC now owns 12,502 shares of the railroad operator's stock worth $2,934,000 after purchasing an additional 1,527 shares during the last quarter. Finally, Newbridge Financial Services Group Inc. bought a new stake in Norfolk Southern during the fourth quarter worth approximately $39,000. Hedge funds and other institutional investors own 75.10% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently issued reports on the stock. UBS Group upped their price objective on shares of Norfolk Southern from $275.00 to $279.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Wells Fargo & Company decreased their target price on Norfolk Southern from $300.00 to $290.00 and set an "overweight" rating for the company in a research note on Thursday, March 27th. Susquehanna lowered their price objective on shares of Norfolk Southern from $260.00 to $250.00 and set a "neutral" rating on the stock in a research note on Thursday, April 24th. Royal Bank of Canada cut their target price on shares of Norfolk Southern from $271.00 to $270.00 and set an "outperform" rating for the company in a research note on Thursday, April 24th. Finally, The Goldman Sachs Group restated a "neutral" rating and issued a $278.00 price target on shares of Norfolk Southern in a research report on Monday, June 2nd. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and twelve have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Moderate Buy" and a consensus price target of $267.24.

Norfolk Southern Price Performance

NSC traded down $1.18 during trading on Thursday, hitting $250.15. 212,737 shares of the stock traded hands, compared to its average volume of 1,228,537. The business has a 50 day moving average price of $231.12 and a 200 day moving average price of $240.48. The company has a market cap of $56.39 billion, a price-to-earnings ratio of 21.64, a PEG ratio of 2.31 and a beta of 1.32. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. Norfolk Southern Co. has a twelve month low of $201.63 and a twelve month high of $277.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings data on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share (EPS) for the quarter, missing analysts' consensus estimates of $2.72 by ($0.03). Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. The business had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.01 billion. During the same quarter last year, the business earned $2.49 EPS. The firm's quarterly revenue was down .4% compared to the same quarter last year. Equities research analysts forecast that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 2nd were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.16%. The ex-dividend date was Friday, May 2nd. Norfolk Southern's dividend payout ratio is currently 36.89%.

Norfolk Southern Profile

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.