APG Asset Management N.V. Has $5.20 Million Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

APG Asset Management N.V. boosted its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 225.6% in the 2nd quarter, HoldingsChannel.com reports. The firm owned 25,978 shares of the railroad operator’s stock after buying an additional 18,000 shares during the quarter. APG Asset Management N.V.’s holdings in Norfolk Southern were worth $5,204,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Cedar Wealth Management LLC bought a new stake in Norfolk Southern in the first quarter valued at approximately $27,000. 1620 Investment Advisors Inc. bought a new stake in Norfolk Southern in the second quarter valued at approximately $27,000. Rise Advisors LLC bought a new stake in Norfolk Southern in the first quarter valued at approximately $34,000. Financial Connections Group Inc. bought a new stake in Norfolk Southern in the second quarter valued at approximately $31,000. Finally, Hobbs Group Advisors LLC bought a new stake in Norfolk Southern in the second quarter valued at approximately $34,000. Institutional investors own 75.10% of the company’s stock.

Analyst Ratings Changes

Several analysts have issued reports on the company. TD Cowen upped 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. Sanford C. Bernstein lowered their target price on Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating on the stock in a research note on Monday, July 8th. Benchmark increased their target price on Norfolk Southern from $266.00 to $270.00 and gave the stock a “buy” rating in a research note on Monday, July 29th. Royal Bank of Canada lowered their target price on Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Finally, Stifel Nicolaus increased their target price on Norfolk Southern from $239.00 to $241.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $264.89.

Norfolk Southern Trading Up 0.9 %

Shares of NSC stock opened at $246.47 on Monday. The stock’s fifty day moving average price is $244.95 and its two-hundred day moving average price is $237.24. The company has a market cap of $55.68 billion, a PE ratio of 39.69, a P/E/G ratio of 2.40 and a beta of 1.31. Norfolk Southern Co. has a fifty-two week low of $183.09 and a fifty-two week high of $263.66. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.20. The firm had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.04 billion. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The company’s revenue was up 2.1% compared to the same quarter last year. During the same quarter last year, the business posted $2.95 EPS. Equities analysts predict that Norfolk Southern Co. will post 11.8 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 2nd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.19%. The ex-dividend date was Friday, August 2nd. Norfolk Southern’s dividend payout ratio (DPR) is 86.96%.

Insider Activity at Norfolk Southern

In other news, Director Richard H. Anderson acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were bought at an average price of $247.48 per share, with a total value of $494,960.00. Following the acquisition, the director now directly owns 3,000 shares in the company, valued at approximately $742,440. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In other news, Director Richard H. Anderson acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were bought at an average price of $247.48 per share, with a total value of $494,960.00. Following the acquisition, the director now directly owns 3,000 shares in the company, valued at approximately $742,440. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, EVP Nabanita C. Nag sold 355 shares of the firm’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $249.38, for a total value of $88,529.90. Following the sale, the executive vice president now directly owns 1,488 shares in the company, valued at approximately $371,077.44. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Norfolk Southern 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.