Tredje AP fonden Reduces Holdings in Norfolk Southern Co. (NYSE:NSC)

Tredje AP fonden decreased its stake in Norfolk Southern Co. (NYSE:NSC - Free Report) by 3.0% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 70,049 shares of the railroad operator's stock after selling 2,197 shares during the period. Tredje AP fonden's holdings in Norfolk Southern were worth $16,440,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also modified their holdings of the company. Principal Financial Group Inc. lifted its position in Norfolk Southern by 3.6% in the third quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator's stock worth $63,417,000 after purchasing an additional 8,844 shares during the period. Sumitomo Mitsui Trust Group Inc. increased its position in Norfolk Southern by 0.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator's stock worth $132,565,000 after purchasing an additional 3,621 shares during the period. Caprock Group LLC acquired a new stake in Norfolk Southern in the fourth quarter worth about $1,796,000. Grandview Asset Management LLC acquired a new stake in Norfolk Southern in the fourth quarter worth about $918,000. Finally, Dorsey & Whitney Trust CO LLC increased its position in Norfolk Southern by 2.3% in the fourth quarter. Dorsey & Whitney Trust CO LLC now owns 5,678 shares of the railroad operator's stock worth $1,333,000 after purchasing an additional 128 shares during the period. Institutional investors and hedge funds own 75.10% of the company's stock.

Insiders Place Their Bets

In other news, Director Gilbert H. Lamphere acquired 607 shares of the firm's stock in a transaction dated Friday, January 31st. The stock was purchased at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the acquisition, the director now directly owns 2,487 shares in the company, valued at $646,271.82. The trade was a 32.29 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this link. 0.19% of the stock is currently owned by corporate insiders.

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Wall Street Analyst Weigh In

A number of analysts have recently commented on NSC shares. Stephens upped their price target on Norfolk Southern from $260.00 to $275.00 and gave the company an "equal weight" rating in a research note on Thursday, January 30th. Wells Fargo & Company lowered their target price on Norfolk Southern from $320.00 to $300.00 and set an "overweight" rating for the company in a research note on Tuesday, January 7th. Loop Capital cut Norfolk Southern from a "buy" rating to a "hold" rating and lowered their target price for the stock from $289.00 to $256.00 in a research note on Monday, February 3rd. Benchmark reissued a "buy" rating and set a $285.00 target price on shares of Norfolk Southern in a research note on Thursday, January 30th. Finally, JPMorgan Chase & Co. increased their target price on Norfolk Southern from $284.00 to $286.00 and gave the stock an "overweight" rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company's stock. According to MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $276.95.

Norfolk Southern Trading Up 2.2 %

Shares of Norfolk Southern stock traded up $5.06 during midday trading on Friday, reaching $232.75. The company had a trading volume of 1,080,968 shares, compared to its average volume of 1,161,849. The stock has a fifty day moving average price of $246.30 and a 200 day moving average price of $250.52. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. The firm has a market cap of $52.70 billion, a PE ratio of 20.13, a P/E/G ratio of 2.31 and a beta of 1.35. Norfolk Southern Co. has a fifty-two week low of $206.71 and a fifty-two week high of $277.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, topping 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%. On average, equities analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were issued a $1.35 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a yield of 2.32%. Norfolk Southern's payout ratio is currently 46.71%.

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.