47,822 Shares in Norfolk Southern Corporation $NSC Bought by SEB Asset Management AB

SEB Asset Management AB acquired a new position in shares of Norfolk Southern Corporation (NYSE:NSC) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The firm acquired 47,822 shares of the railroad operator’s stock, valued at approximately $13,725,000.

A number of other institutional investors also recently bought and sold shares of NSC. JPL Wealth Management LLC purchased a new position in shares of Norfolk Southern during the third quarter worth about $25,000. BNP Paribas acquired a new stake in Norfolk Southern during the 2nd quarter worth approximately $26,000. Meeder Asset Management Inc. lifted its position in Norfolk Southern by 239.3% during the 4th quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock worth $27,000 after acquiring an additional 67 shares during the period. Financial Life Planners purchased a new position in shares of Norfolk Southern in the 1st quarter valued at approximately $33,000. Finally, Bayban purchased a new position in shares of Norfolk Southern in the 4th quarter valued at approximately $34,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Performance

NSC opened at $335.11 on Tuesday. The stock’s 50 day simple moving average is $315.26 and its 200 day simple moving average is $304.81. The stock has a market cap of $75.26 billion, a P/E ratio of 28.23, a P/E/G ratio of 6.22 and a beta of 1.27. Norfolk Southern Corporation has a 1-year low of $268.23 and a 1-year high of $342.53. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81.

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

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were paid a $1.35 dividend. 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 dividend payout ratio is presently 45.49%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently commented on the company. Rothschild & Co Redburn upped their price target on Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. BMO Capital Markets lifted their price objective on shares of Norfolk Southern from $305.00 to $310.00 and gave the company a “market perform” rating in a research report on Monday, April 27th. Royal Bank Of Canada dropped their price objective on shares of Norfolk Southern from $360.00 to $320.00 and set a “sector perform” rating on the stock in a research note on Wednesday, June 24th. Wolfe Research upped their price objective on shares of Norfolk Southern from $350.00 to $355.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 7th. Finally, Wells Fargo & Company raised their target price on shares of Norfolk Southern from $350.00 to $365.00 and gave the stock an “overweight” rating in a research note on Wednesday, July 8th. 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, Norfolk Southern has a consensus rating of “Hold” and a consensus target price of $329.35.

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.