Handelsbanken Fonder AB Grows Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Handelsbanken Fonder AB raised its position in shares of Norfolk Southern Co. (NYSE:NSC) by 8.2% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 99,438 shares of the railroad operator’s stock after buying an additional 7,547 shares during the quarter. Handelsbanken Fonder AB’s holdings in Norfolk Southern were worth $23,505,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of the company. CWM LLC increased its holdings in shares of Norfolk Southern by 13.0% during the fourth quarter. CWM LLC now owns 6,049 shares of the railroad operator’s stock valued at $1,430,000 after acquiring an additional 697 shares in the last quarter. Capital Management Corp VA acquired a new position in Norfolk Southern in the 4th quarter worth approximately $201,000. Criterion Capital Advisors LLC acquired a new position in Norfolk Southern in the 4th quarter worth approximately $72,000. Nicholas Hoffman & Company LLC. increased its holdings in Norfolk Southern by 0.6% in the 4th quarter. Nicholas Hoffman & Company LLC. now owns 9,342 shares of the railroad operator’s stock worth $2,208,000 after buying an additional 54 shares during the period. Finally, Verdence Capital Advisors LLC increased its holdings in Norfolk Southern by 5.7% in the 4th quarter. Verdence Capital Advisors LLC now owns 28,448 shares of the railroad operator’s stock worth $6,725,000 after buying an additional 1,541 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Trading Up 1.4 %

Shares of NYSE:NSC opened at $244.61 on Tuesday. The business’s 50 day moving average price is $252.77 and its 200-day moving average price is $231.71. The company has a debt-to-equity ratio of 1.34, a current ratio of 1.24 and a quick ratio of 1.14. The firm has a market capitalization of $60.23 billion, a price-to-earnings ratio of 30.50, a price-to-earnings-growth ratio of 3.28 and a beta of 1.30. Norfolk Southern Co. has a 1 year low of $183.09 and a 1 year high of $263.66.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Friday, January 26th. The railroad operator reported $2.83 earnings per share for the quarter, missing analysts’ consensus estimates of $2.87 by ($0.04). The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.09 billion. Norfolk Southern had a net margin of 15.03% and a return on equity of 21.06%. The company’s revenue for the quarter was down 4.2% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.42 EPS. On average, equities research analysts forecast that Norfolk Southern Co. will post 11.98 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Friday, February 2nd were issued a $1.35 dividend. The ex-dividend date of this dividend was Thursday, February 1st. This represents a $5.40 dividend on an annualized basis and a yield of 2.21%. Norfolk Southern’s payout ratio is currently 67.33%.

Analyst Upgrades and Downgrades

NSC has been the topic of several research reports. BMO Capital Markets cut their price target on shares of Norfolk Southern from $250.00 to $245.00 and set a “market perform” rating on the stock in a report on Monday, January 29th. Susquehanna cut their price target on shares of Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating on the stock in a report on Wednesday, April 10th. TD Cowen increased their price target on shares of Norfolk Southern from $236.00 to $253.00 and gave the stock a “market perform” rating in a report on Thursday, March 21st. Barclays raised shares of Norfolk Southern from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $255.00 to $305.00 in a research note on Wednesday, February 21st. Finally, Royal Bank of Canada reaffirmed a “sector perform” rating and set a $270.00 price objective on shares of Norfolk Southern in a research note on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat.com, Norfolk Southern has an average rating of “Moderate Buy” and a consensus price target of $262.74.

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.