Norfolk Southern Co. (NYSE:NSC) Shares Acquired by Nordea Investment Management AB

Nordea Investment Management AB increased its position in shares of Norfolk Southern Co. (NYSE:NSC) by 8.3% in the 4th quarter, HoldingsChannel.com reports. The firm owned 18,940 shares of the railroad operator’s stock after acquiring an additional 1,451 shares during the period. Nordea Investment Management AB’s holdings in Norfolk Southern were worth $4,451,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Lake Street Advisors Group LLC raised its stake in shares of Norfolk Southern by 1.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock worth $563,000 after buying an additional 41 shares during the last quarter. Raab & Moskowitz Asset Management LLC raised its position in Norfolk Southern by 2.4% during the third quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator’s stock worth $435,000 after acquiring an additional 41 shares during the last quarter. Foster Victor Wealth Advisors LLC grew its position in shares of Norfolk Southern by 4.2% in the third quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator’s stock valued at $256,000 after purchasing an additional 42 shares during the last quarter. Stratos Investment Management LLC increased its stake in shares of Norfolk Southern by 3.8% during the 3rd quarter. Stratos Investment Management LLC now owns 1,154 shares of the railroad operator’s stock worth $287,000 after purchasing an additional 42 shares in the last quarter. Finally, Archer Investment Corp raised its position in shares of Norfolk Southern by 2.3% during the 3rd quarter. Archer Investment Corp now owns 1,934 shares of the railroad operator’s stock worth $481,000 after purchasing an additional 43 shares during the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Sameh Fahmy acquired 350 shares of the company’s stock in a transaction dated Thursday, December 12th. The shares were bought at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the purchase, the director now directly owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 0.19% of the stock is currently owned by insiders.

Norfolk Southern Stock Performance

NYSE NSC opened at $233.62 on Friday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The firm has a market capitalization of $52.85 billion, a P/E ratio of 21.94, a P/E/G ratio of 2.34 and a beta of 1.34. The business’s 50-day simple moving average is $253.27 and its 200-day simple moving average is $245.41.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the previous year, the company posted $2.65 earnings per share. Norfolk Southern’s revenue was up 3.3% compared to the same quarter last year. Equities analysts predict that Norfolk Southern Co. will post 11.82 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.31%. The ex-dividend date was Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is presently 50.70%.

Wall Street Analyst Weigh In

A number of equities analysts have recently weighed in on NSC shares. Loop Capital boosted their price target on Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Jefferies Financial Group boosted their target price on shares of Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. Barclays raised their price target on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock an “overweight” rating in a research note on Wednesday, November 13th. Wells Fargo & Company cut their price objective on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a research report on Tuesday. Finally, Bank of America raised their target price on shares of Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat, Norfolk Southern presently has a consensus rating of “Moderate Buy” and a consensus target price of $275.68.

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.