Livforsakringsbolaget Skandia Omsesidigt Sells 200 Shares of Norfolk Southern Co. (NYSE:NSC)

Livforsakringsbolaget Skandia Omsesidigt lowered its stake in Norfolk Southern Co. (NYSE:NSC) by 26.1% during the 2nd quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 567 shares of the railroad operator’s stock after selling 200 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in Norfolk Southern were worth $122,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently made changes to their positions in the company. Cedar Wealth Management LLC bought a new stake in Norfolk Southern during the first quarter valued at about $27,000. Rise Advisors LLC purchased a new position in Norfolk Southern in the 1st quarter worth approximately $34,000. Turtle Creek Wealth Advisors LLC purchased a new stake in Norfolk Southern during the 4th quarter valued at approximately $32,000. Rational Advisors LLC purchased a new position in Norfolk Southern during the first quarter valued at $40,000. Finally, Transcendent Capital Group LLC bought a new position in Norfolk Southern during the fourth quarter valued at approximately $38,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on NSC shares. UBS Group cut their target price on shares of Norfolk Southern from $302.00 to $294.00 and set a “buy” rating for the company in a report on Thursday, April 25th. Stifel Nicolaus boosted their price objective on Norfolk Southern from $239.00 to $241.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. TD Cowen raised their price objective on Norfolk Southern from $251.00 to $253.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Barclays cut their price objective on shares of Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday, May 13th. Finally, Wells Fargo & Company boosted their target price on Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus price target of $264.24.

Norfolk Southern Stock Down 0.6 %

Shares of NSC traded down $1.49 during trading hours on Monday, hitting $238.13. The company had a trading volume of 109,660 shares, compared to its average volume of 1,295,552. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30. The company has a market capitalization of $53.80 billion, a PE ratio of 38.59, a price-to-earnings-growth ratio of 2.41 and a beta of 1.32. Norfolk Southern Co. has a one year low of $183.09 and a one year high of $263.66. The company’s fifty day moving average price is $226.41 and its two-hundred day moving average price is $238.42.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Thursday, July 25th. The railroad operator reported $3.06 EPS for the quarter, topping analysts’ consensus estimates of $2.86 by $0.20. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same period in the previous year, the company posted $2.95 earnings per share. The firm’s revenue was up 2.1% on a year-over-year basis. As a group, equities analysts forecast that Norfolk Southern Co. will post 11.78 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Investors of record on Friday, August 2nd will be given a dividend of $1.35 per share. The ex-dividend date is Friday, August 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.27%. Norfolk Southern’s payout ratio is 86.96%.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, Director Claude Mongeau purchased 5,650 shares of the stock in a transaction on Wednesday, May 29th. The stock was acquired at an average price of $221.00 per share, with a total value of $1,248,650.00. Following the completion of the acquisition, the director now owns 20,000 shares in the company, valued at $4,420,000. The acquisition was disclosed in a filing with the SEC, which is available at this link. In related news, Director Richard H. Anderson acquired 2,000 shares of Norfolk Southern stock in a transaction on Monday, July 29th. The stock was acquired at an average price of $247.48 per share, for a total transaction of $494,960.00. Following the purchase, the director now owns 3,000 shares of the company’s stock, valued at approximately $742,440. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, Director Claude Mongeau purchased 5,650 shares of the firm’s stock in a transaction on Wednesday, May 29th. The stock was bought at an average cost of $221.00 per share, with a total value of $1,248,650.00. Following the completion of the acquisition, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $4,420,000. The disclosure for this purchase can be found here. Insiders bought a total of 10,350 shares of company stock worth $2,353,715 over the last three months. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Company 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.