Skandinaviska Enskilda Banken AB publ Has $9.86 Million Holdings in Norfolk Southern Co. (NYSE:NSC)

Skandinaviska Enskilda Banken AB publ raised its holdings in Norfolk Southern Co. (NYSE:NSC) by 4.8% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 45,945 shares of the railroad operator’s stock after acquiring an additional 2,100 shares during the period. Skandinaviska Enskilda Banken AB publ’s holdings in Norfolk Southern were worth $9,864,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently modified their holdings of the business. Cedar Wealth Management LLC acquired a new position in shares of Norfolk Southern in the 1st quarter valued at approximately $27,000. 1620 Investment Advisors Inc. acquired a new position in shares of Norfolk Southern in the second quarter valued at approximately $27,000. Financial Connections Group Inc. bought a new stake in shares of Norfolk Southern during the second quarter worth $31,000. Rise Advisors LLC acquired a new stake in shares of Norfolk Southern during the first quarter worth $34,000. Finally, Hobbs Group Advisors LLC bought a new stake in Norfolk Southern in the 2nd quarter valued at $34,000. 75.10% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

NSC has been the subject of a number of research reports. Stifel Nicolaus increased their target price on Norfolk Southern from $239.00 to $241.00 and gave the stock a “hold” rating in a report on Friday, July 26th. Susquehanna lifted their target price on Norfolk Southern from $245.00 to $255.00 and gave the company a “neutral” rating in a research report on Friday, July 26th. Morgan Stanley reaffirmed an “underweight” rating and set a $175.00 price target on shares of Norfolk Southern in a research report on Monday, July 8th. Wells Fargo & Company boosted their price objective on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Finally, TD Cowen raised their target price on shares of Norfolk Southern from $251.00 to $253.00 and gave the company a “hold” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $264.24.

Norfolk Southern Price Performance

NYSE:NSC opened at $247.86 on Friday. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.30. Norfolk Southern Co. has a 12-month low of $183.09 and a 12-month high of $263.66. The stock’s 50 day moving average price is $243.51 and its two-hundred day moving average price is $237.85. The firm has a market capitalization of $56.00 billion, a price-to-earnings ratio of 39.91, a P/E/G ratio of 2.48 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.20. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter last year, the firm posted $2.95 EPS. The company’s quarterly revenue was up 2.1% on a year-over-year basis. On average, analysts anticipate that Norfolk Southern Co. will post 11.8 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 2nd were paid a $1.35 dividend. The ex-dividend date was Friday, August 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.18%. Norfolk Southern’s dividend payout ratio (DPR) is currently 86.96%.

Insider Buying and Selling at Norfolk Southern

In other news, Director Sameh Fahmy acquired 700 shares of Norfolk Southern stock in a transaction dated Thursday, August 1st. The stock was bought at an average price of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the acquisition, the director now directly owns 7,700 shares in the company, valued at approximately $1,887,655. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other Norfolk Southern news, Director Richard H. Anderson bought 2,000 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were purchased at an average price of $247.48 per share, for a total transaction of $494,960.00. Following the transaction, the director now directly owns 3,000 shares in the company, valued at approximately $742,440. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Sameh Fahmy purchased 700 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average price of $245.15 per share, with a total value of $171,605.00. Following the completion of the purchase, the director now owns 7,700 shares of the company’s stock, valued at approximately $1,887,655. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

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.