Handelsbanken Fonder AB Buys 33,460 Shares of Norfolk Southern Co. (NYSE:NSC)

Handelsbanken Fonder AB increased its stake in Norfolk Southern Co. (NYSE:NSC) by 34.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 130,541 shares of the railroad operator’s stock after acquiring an additional 33,460 shares during the period. Handelsbanken Fonder AB’s holdings in Norfolk Southern were worth $30,638,000 as of its most recent SEC filing.

Several other institutional investors also recently bought and sold shares of the stock. Highline Wealth Partners LLC bought a new stake in Norfolk Southern in the third quarter valued at approximately $25,000. Financial Life Planners bought a new stake in Norfolk Southern during the 4th quarter valued at $27,000. Keystone Financial Group Inc. purchased a new stake in Norfolk Southern during the 4th quarter valued at $27,000. Bank of Jackson Hole Trust bought a new stake in Norfolk Southern in the 4th quarter worth $27,000. Finally, Morse Asset Management Inc bought a new stake in Norfolk Southern in the 3rd quarter worth $30,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Price Performance

NSC stock opened at $249.40 on Friday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. The firm has a market capitalization of $56.47 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 2.39 and a beta of 1.35. The firm has a 50 day moving average price of $245.43 and a 200-day moving average price of $250.60. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. Equities research analysts forecast that Norfolk Southern Co. will post 13.02 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is 46.71%.

Analyst Ratings Changes

A number of research firms have recently weighed in on NSC. Royal Bank of Canada increased their target price on shares of Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Susquehanna dropped their price objective on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a report on Wednesday, January 8th. Barclays boosted their target price on Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research note on Wednesday, November 13th. JPMorgan Chase & Co. raised their price target on Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a research note on Thursday, January 30th. Finally, Citigroup boosted their price objective on shares of Norfolk Southern from $302.00 to $316.00 and gave the company a “buy” rating in a research report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $276.11.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy purchased 350 shares of the stock in a transaction dated Thursday, December 12th. The shares were purchased at an average cost of $249.37 per share, with a total value of $87,279.50. Following the completion of the acquisition, the director now directly owns 10,350 shares in the company, valued at $2,580,979.50. This trade represents a 3.50 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Gilbert H. Lamphere acquired 607 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were acquired at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the transaction, the director now directly owns 2,487 shares of the company’s stock, valued at $646,271.82. The trade was a 32.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is owned by company insiders.

About Norfolk Southern

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.