Primecap Management Co. CA Grows Holdings in Norfolk Southern Corporation (NYSE:NSC)

Key Points

• Primecap Management Co. CA has increased its holdings in Norfolk Southern Corporation by 4.7% to a total of 704,920 shares, now worth approximately $166.96 million.
• Institutional investors own around 75.10% of Norfolk Southern's stock, with notable increases from firms like Vanguard Group and FMR LLC in recent quarters.
• Norfolk Southern recently reported earnings of $3.29 per share, surpassing analysts' expectations, and announced a quarterly dividend of $1.35 per share with a yield of 1.9%.

Primecap Management Co. CA increased its stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 4.7% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 704,920 shares of the railroad operator's stock after purchasing an additional 31,720 shares during the quarter. Primecap Management Co. CA owned approximately 0.31% of Norfolk Southern worth $166,960,000 at the end of the most recent quarter.

Other institutional investors have also bought and sold shares of the company. Schnieders Capital Management LLC raised its stake in shares of Norfolk Southern by 6.3% in the first quarter. Schnieders Capital Management LLC now owns 2,605 shares of the railroad operator's stock valued at $617,000 after buying an additional 155 shares during the period. Nicholas Hoffman & Company LLC. increased its holdings in Norfolk Southern by 1.7% in the 1st quarter. Nicholas Hoffman & Company LLC. now owns 8,918 shares of the railroad operator's stock worth $2,112,000 after acquiring an additional 153 shares during the last quarter. Vanguard Group Inc. raised its stake in Norfolk Southern by 1.2% in the 1st quarter. Vanguard Group Inc. now owns 20,321,359 shares of the railroad operator's stock valued at $4,813,114,000 after acquiring an additional 232,195 shares during the period. Wealthspire Advisors LLC lifted its holdings in Norfolk Southern by 85.0% during the first quarter. Wealthspire Advisors LLC now owns 9,616 shares of the railroad operator's stock valued at $2,277,000 after purchasing an additional 4,419 shares during the last quarter. Finally, McClarren Financial Advisors Inc. bought a new position in Norfolk Southern during the first quarter worth about $56,000. Hedge funds and other institutional investors own 75.10% of the company's stock.

Norfolk Southern Trading Up 1.0%

Shares of NYSE:NSC traded up $2.78 on Friday, reaching $283.25. 71,459 shares of the company traded hands, compared to its average volume of 1,548,223. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $288.11. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.11. The business's 50-day simple moving average is $262.93 and its 200 day simple moving average is $245.68. The stock has a market capitalization of $63.62 billion, a P/E ratio of 19.12, a price-to-earnings-growth ratio of 2.51 and a beta of 1.31.

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

Norfolk Southern Announces Dividend

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

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NSC. UBS Group lifted their target price on shares of Norfolk Southern from $275.00 to $279.00 and gave the stock a "buy" rating in a research note on Friday, May 30th. The Goldman Sachs Group reaffirmed a "neutral" rating and issued a $278.00 price objective on shares of Norfolk Southern in a report on Monday, June 2nd. Barclays boosted their target price on shares of Norfolk Southern from $290.00 to $300.00 and gave the company an "overweight" rating in a report on Wednesday, July 30th. Susquehanna restated a "neutral" rating and set a $260.00 target price (up previously from $250.00) on shares of Norfolk Southern in a research report on Tuesday, June 24th. Finally, Citigroup lifted their price target on Norfolk Southern from $288.00 to $305.00 and gave the company a "neutral" rating in a research report on Wednesday, July 30th. Fourteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $285.15.

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.