SEB Asset Management AB Buys New Stake in Norfolk Southern Corporation $NSC

SEB Asset Management AB bought a new stake in shares of Norfolk Southern Corporation (NYSE:NSC) during the first quarter, according to the company in its most recent filing with the SEC. The institutional investor bought 47,822 shares of the railroad operator’s stock, valued at approximately $13,725,000.

Other hedge funds also recently bought and sold shares of the company. Brighton Jones LLC raised its stake in Norfolk Southern by 4.9% in the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after purchasing an additional 79 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of Norfolk Southern by 40.4% during the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock worth $1,527,000 after purchasing an additional 1,855 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Norfolk Southern during the 2nd quarter worth about $327,000. Schnieders Capital Management LLC. boosted its stake in shares of Norfolk Southern by 64.1% during the 2nd quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock worth $1,094,000 after purchasing an additional 1,670 shares during the last quarter. Finally, Jump Financial LLC grew its holdings in shares of Norfolk Southern by 185.1% during the second quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator’s stock worth $1,174,000 after buying an additional 2,979 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

NSC has been the topic of several recent analyst reports. Sanford C. Bernstein reduced their price objective on shares of Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating on the stock in a research note on Tuesday, March 31st. BMO Capital Markets lifted their target price on shares of Norfolk Southern from $305.00 to $310.00 and gave the stock a “market perform” rating in a research note on Monday, April 27th. Stephens upgraded Norfolk Southern to a “hold” rating in a report on Wednesday, July 8th. Wall Street Zen raised Norfolk Southern from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Finally, Robert W. Baird raised their price objective on Norfolk Southern from $330.00 to $360.00 and gave the stock a “neutral” rating in a report on Friday, July 10th. Six analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company’s stock. According to MarketBeat.com, Norfolk Southern has an average rating of “Hold” and a consensus target price of $329.35.

Norfolk Southern Price Performance

Shares of Norfolk Southern stock opened at $335.11 on Tuesday. The business’s fifty day moving average price is $315.26 and its 200 day moving average price is $304.81. Norfolk Southern Corporation has a twelve month low of $268.23 and a twelve month high of $342.53. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. The stock has a market capitalization of $75.26 billion, a P/E ratio of 28.23, a PEG ratio of 6.22 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping the consensus estimate of $2.49 by $0.16. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The firm’s revenue was up .2% on a year-over-year basis. During the same period in the prior year, the firm posted $2.69 earnings per share. As a group, research analysts anticipate that Norfolk Southern Corporation will post 12.24 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern’s payout ratio is 45.49%.

Norfolk Southern Company Profile

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.