Varma Mutual Pension Insurance Co Takes Position in Norfolk Southern Corporation $NSC

Varma Mutual Pension Insurance Co acquired a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) during the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 48,630 shares of the railroad operator’s stock, valued at approximately $15,299,000.

Several other institutional investors have also bought and sold shares of NSC. Westpac Banking Corp bought a new stake in shares of Norfolk Southern during the 2nd quarter worth about $604,000. TRB Wealth Management LLC bought a new position in shares of Norfolk Southern in the second quarter valued at approximately $291,000. Sumitomo Life Insurance Co. bought a new position in shares of Norfolk Southern in the second quarter valued at approximately $930,000. Korea Investment CORP acquired a new position in shares of Norfolk Southern during the second quarter valued at approximately $29,710,000. Finally, EP Wealth Advisors LLC acquired a new position in shares of Norfolk Southern during the 2nd quarter valued at $3,854,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Trading Up 0.0%

NYSE:NSC opened at $350.77 on Monday. The stock has a fifty day simple moving average of $328.23 and a 200 day simple moving average of $313.47. The firm has a market capitalization of $78.79 billion, a price-to-earnings ratio of 29.93, a price-to-earnings-growth ratio of 6.21 and a beta of 1.27. Norfolk Southern Corporation has a 1-year low of $268.23 and a 1-year high of $358.60. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $3.32 by $0.20. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The business’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the company earned $3.29 EPS. Sell-side analysts forecast that Norfolk Southern Corporation will post 12.66 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were given a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 1.5%. The ex-dividend date of this dividend was Friday, August 7th. Norfolk Southern’s dividend payout ratio (DPR) is 46.08%.

Analyst Upgrades and Downgrades

Several brokerages recently weighed in on NSC. Susquehanna raised their target price on Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a research note on Tuesday, July 14th. Citigroup boosted their price target on shares of Norfolk Southern from $351.00 to $376.00 and gave the stock a “neutral” rating in a research report on Friday, July 24th. Rothschild & Co Redburn upped their price target on shares of Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a report on Wednesday, April 29th. Royal Bank Of Canada raised their price objective on shares of Norfolk Southern from $320.00 to $360.00 and gave the company a “sector perform” rating in a research report on Friday, July 24th. Finally, TD Cowen boosted their target price on shares of Norfolk Southern from $337.00 to $376.00 and gave the stock a “buy” rating in a report on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to MarketBeat.com, Norfolk Southern currently has a consensus rating of “Hold” and an average price target of $348.00.

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.