Zurcher Kantonalbank Zurich Cantonalbank Acquires 3,712 Shares of Norfolk Southern Co. (NYSE:NSC)

Zurcher Kantonalbank Zurich Cantonalbank lifted its holdings in Norfolk Southern Co. (NYSE:NSC) by 9.7% during the second quarter, according to its most recent Form 13F filing with the SEC. The firm owned 41,883 shares of the railroad operator’s stock after purchasing an additional 3,712 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Norfolk Southern were worth $8,992,000 as of its most recent filing with the SEC.

A number of other institutional investors have also made changes to their positions in the business. Vanguard Group Inc. boosted its holdings in shares of Norfolk Southern by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 19,623,690 shares of the railroad operator’s stock worth $5,001,490,000 after acquiring an additional 1,088,072 shares in the last quarter. Price T Rowe Associates Inc. MD grew its holdings in shares of Norfolk Southern by 2.1% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 5,986,180 shares of the railroad operator’s stock valued at $1,525,699,000 after buying an additional 124,362 shares during the period. EdgePoint Investment Group Inc. raised its holdings in shares of Norfolk Southern by 10.2% during the first quarter. EdgePoint Investment Group Inc. now owns 3,752,050 shares of the railroad operator’s stock worth $956,285,000 after acquiring an additional 347,852 shares during the period. Boston Partners lifted its holdings in shares of Norfolk Southern by 157.1% in the first quarter. Boston Partners now owns 2,890,665 shares of the railroad operator’s stock valued at $735,749,000 after purchasing an additional 1,766,135 shares in the last quarter. Finally, Norges Bank acquired a new position in shares of Norfolk Southern during the fourth quarter worth about $556,797,000. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Trading Up 0.5 %

Shares of NSC traded up $1.38 during trading hours on Friday, hitting $253.40. 464,226 shares of the stock were exchanged, compared to its average volume of 1,264,110. 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 current ratio of 0.63 and a quick ratio of 0.54. The business has a 50-day moving average of $231.30 and a 200-day moving average of $238.11. The firm has a market capitalization of $57.25 billion, a P/E ratio of 40.59, a price-to-earnings-growth ratio of 2.41 and a beta of 1.32.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 earnings per share for the quarter, topping the consensus estimate of $2.86 by $0.20. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The company had revenue of $3.04 billion during the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the prior year, the company posted $2.95 earnings per share. Norfolk Southern’s revenue for the quarter was up 2.1% compared to the same quarter last year. On average, research analysts expect that Norfolk Southern Co. will post 11.78 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 2nd were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.13%. The ex-dividend date of this dividend was Friday, August 2nd. Norfolk Southern’s payout ratio is currently 86.96%.

Insider Activity at Norfolk Southern

In other news, Director Sameh Fahmy purchased 700 shares of the company’s stock in a transaction that occurred on Thursday, August 1st. The shares were bought at an average cost of $245.15 per share, with a total value of $171,605.00. Following the completion of the transaction, the director now directly owns 7,700 shares of the company’s stock, valued at $1,887,655. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Director Richard H. Anderson acquired 2,000 shares of the stock in a transaction on Monday, July 29th. The shares were acquired at an average price of $247.48 per share, with a total value of $494,960.00. Following the completion of the transaction, the director now owns 3,000 shares in the company, valued at approximately $742,440. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sameh Fahmy bought 700 shares of Norfolk Southern stock in a transaction dated Thursday, August 1st. The stock was acquired at an average price of $245.15 per share, with a total value of $171,605.00. Following the purchase, the director now directly owns 7,700 shares of the company’s stock, valued at $1,887,655. The disclosure for this purchase can be found here. Insiders have bought 4,700 shares of company stock valued at $1,105,065 over the last ninety days. Corporate insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

NSC has been the topic of a number of recent research reports. Morgan Stanley reiterated an “underweight” rating and issued a $175.00 price objective on shares of Norfolk Southern in a report on Monday, July 8th. TD Cowen boosted their price objective on shares of Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a research note on Friday, July 26th. Royal Bank of Canada lowered their price objective on shares of Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Susquehanna boosted their price objective on shares of Norfolk Southern from $245.00 to $255.00 and gave the stock a “neutral” rating in a research note on Friday, July 26th. Finally, Stifel Nicolaus boosted their price objective on shares of 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 assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $264.24.

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.