Charles Schwab Investment Management Inc. Has $338.93 Million Stock Holdings in Norfolk Southern Corporation (NYSE:NSC)

Key Points

• Charles Schwab Investment Management Inc. has increased its ownership in Norfolk Southern Corporation by 1.2%, now holding 1,430,990 shares valued at approximately $338.93 million.
• Norfolk Southern recently announced a quarterly dividend of $1.35 per share, with an annualized yield of 1.9%, payable on August 20th.
• Several analysts have upgraded their price targets for Norfolk Southern, with Bank of America raising its target from $290.00 to $305.00 and TD Cowen increasing its target from $263.00 to $323.00.

Charles Schwab Investment Management Inc. increased its holdings in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 1,430,990 shares of the railroad operator's stock after acquiring an additional 16,419 shares during the quarter. Charles Schwab Investment Management Inc. owned approximately 0.63% of Norfolk Southern worth $338,930,000 as of its most recent filing with the SEC.

Several other institutional investors have also modified their holdings of NSC. Strategic Investment Solutions Inc. IL boosted its position in shares of Norfolk Southern by 16.9% during the fourth quarter. Strategic Investment Solutions Inc. IL now owns 304 shares of the railroad operator's stock worth $71,000 after purchasing an additional 44 shares in the last quarter. CoreCap Advisors LLC boosted its position in shares of Norfolk Southern by 1.5% during the fourth quarter. CoreCap Advisors LLC now owns 3,097 shares of the railroad operator's stock worth $727,000 after purchasing an additional 45 shares in the last quarter. Canandaigua National Trust Co of Florida boosted its position in shares of Norfolk Southern by 4.9% during the first quarter. Canandaigua National Trust Co of Florida now owns 956 shares of the railroad operator's stock worth $226,000 after purchasing an additional 45 shares in the last quarter. Capital Investment Advisory Services LLC lifted its position in Norfolk Southern by 1.8% in the 1st quarter. Capital Investment Advisory Services LLC now owns 2,556 shares of the railroad operator's stock valued at $605,000 after acquiring an additional 45 shares in the last quarter. Finally, Certified Advisory Corp lifted its position in Norfolk Southern by 1.0% in the 1st quarter. Certified Advisory Corp now owns 4,644 shares of the railroad operator's stock valued at $1,100,000 after acquiring an additional 47 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company's stock.

Norfolk Southern Stock Performance

NSC traded up $1.89 on Wednesday, reaching $280.13. The company had a trading volume of 622,266 shares, compared to its average volume of 1,549,150. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.71 and a current ratio of 0.79. The stock has a market cap of $62.92 billion, a P/E ratio of 18.94, a P/E/G ratio of 2.47 and a beta of 1.31. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $288.11. The company's fifty day moving average is $264.83 and its 200 day moving average is $246.15.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.24 by $0.05. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. The firm had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.10 billion. As a group, analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Friday, August 1st will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, August 1st. Norfolk Southern's dividend payout ratio is 36.49%.

Wall Street Analyst Weigh In

Several equities research analysts recently commented on NSC shares. UBS Group boosted their price objective on shares of Norfolk Southern from $275.00 to $279.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Barclays boosted their price objective on shares of Norfolk Southern from $290.00 to $300.00 and gave the company an "overweight" rating in a research report on Wednesday, July 30th. Susquehanna reaffirmed a "neutral" rating and issued a $260.00 price objective (up from $250.00) on shares of Norfolk Southern in a research report on Tuesday, June 24th. Evercore ISI reaffirmed an "in-line" rating and issued a $289.00 price objective (up from $279.00) on shares of Norfolk Southern in a research report on Wednesday, July 30th. Finally, JPMorgan Chase & Co. reaffirmed a "neutral" rating and issued a $288.00 price objective (up from $282.00) on shares of Norfolk Southern in a research report on Wednesday, July 30th. Fourteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Hold" and an average price target of $285.15.

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.