National Pension Service Purchases 55,362 Shares of Norfolk Southern Corporation (NYSE:NSC)

Key Points

• The National Pension Service increased its stake in Norfolk Southern Corporation by 10.9%, holding 561,491 shares valued at approximately $132.99 million.
• Norfolk Southern recently announced a quarterly dividend of $1.35 per share, with a dividend yield of 1.9% and a payout ratio of 36.49%.
• Research analysts have generally rated Norfolk Southern as a "hold" with an average price target of $285.15, reflecting a mix of upgraded and downgraded ratings from various firms.

National Pension Service grew its holdings in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 10.9% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 561,491 shares of the railroad operator's stock after purchasing an additional 55,362 shares during the quarter. National Pension Service owned approximately 0.25% of Norfolk Southern worth $132,989,000 at the end of the most recent reporting period.

Several other hedge funds also recently modified their holdings of NSC. Fourth Dimension Wealth LLC bought a new position in shares of Norfolk Southern in the 4th quarter valued at about $28,000. Putney Financial Group LLC bought a new position in shares of Norfolk Southern in the 4th quarter valued at about $30,000. Greenline Partners LLC bought a new position in shares of Norfolk Southern in the 4th quarter valued at about $31,000. HWG Holdings LP bought a new position in shares of Norfolk Southern in the 1st quarter valued at about $35,000. Finally, Physician Wealth Advisors Inc. boosted its stake in shares of Norfolk Southern by 129.2% in the 1st quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock valued at $35,000 after purchasing an additional 84 shares during the last quarter. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Stock Down 0.6%

NSC stock traded down $1.64 during midday trading on Friday, hitting $280.86. The company's stock had a trading volume of 1,939,854 shares, compared to its average volume of 3,210,820. The company's fifty day moving average price is $266.84 and its 200 day moving average price is $246.68. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $288.11. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.79 and a quick ratio of 0.71. The stock has a market capitalization of $63.09 billion, a P/E ratio of 18.98, a PEG ratio of 2.49 and a beta of 1.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings data on Tuesday, July 29th. The railroad operator reported $3.29 EPS for the quarter, topping 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 company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.10 billion. As a group, equities research analysts predict that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Friday, August 1st will be paid 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 is Friday, August 1st. Norfolk Southern's dividend payout ratio is currently 36.49%.

Analysts Set New Price Targets

Several equities research analysts have commented on the stock. Susquehanna reaffirmed a "neutral" rating and issued a $260.00 target price (up previously from $250.00) on shares of Norfolk Southern in a research note on Tuesday, June 24th. UBS Group increased their target price on shares of Norfolk Southern from $275.00 to $279.00 and gave the stock a "buy" rating in a report on Friday, May 30th. Robert W. Baird increased their target price on shares of Norfolk Southern from $255.00 to $300.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. reiterated a "neutral" rating and issued a $288.00 target price (up from $282.00) on shares of Norfolk Southern in a report on Wednesday, July 30th. Finally, Royal Bank Of Canada lowered shares of Norfolk Southern from a "moderate buy" rating to a "hold" rating in a report on Tuesday, July 29th. Fourteen research analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, Norfolk Southern currently has an average rating of "Hold" and a consensus price target of $285.15.

Norfolk Southern Company 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.