Raiffeisen Bank International AG Takes $575,000 Position in Norfolk Southern Corporation (NYSE:NSC)

Key Points

• Raiffeisen Bank International AG has invested approximately $575,000 in Norfolk Southern Corporation by purchasing 2,492 shares during the first quarter.
• Norfolk Southern recently announced a quarterly dividend of $1.35 per share, equating to an annualized dividend of $5.40 and a yield of 1.9%.
• The stock currently has a market cap of $62.83 billion and a consensus rating of "Hold" from analysts, with an average target price of $285.15.

Raiffeisen Bank International AG bought a new position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 2,492 shares of the railroad operator's stock, valued at approximately $575,000.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Fourth Dimension Wealth LLC bought a new stake in Norfolk Southern in the fourth quarter valued at approximately $28,000. Putney Financial Group LLC acquired a new position in shares of Norfolk Southern in the 4th quarter valued at $30,000. Greenline Partners LLC bought a new stake in shares of Norfolk Southern in the 4th quarter valued at $31,000. HWG Holdings LP bought a new stake in shares of Norfolk Southern in the 1st quarter valued at $35,000. Finally, Physician Wealth Advisors Inc. raised its stake in Norfolk Southern by 129.2% during the 1st quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock worth $35,000 after buying an additional 84 shares during the period. Institutional investors own 75.10% of the company's stock.

Norfolk Southern Stock Down 1.1%

Shares of NYSE NSC traded down $3.01 during trading hours on Thursday, hitting $279.94. The company had a trading volume of 2,187,523 shares, compared to its average volume of 3,196,134. Norfolk Southern Corporation has a 1-year low of $201.63 and a 1-year high of $288.11. The company has a quick ratio of 0.71, a current ratio of 0.79 and a debt-to-equity ratio of 1.11. The firm's 50 day moving average is $262.93 and its 200-day moving average is $245.68. The stock has a market capitalization of $62.88 billion, a P/E ratio of 18.91, 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, 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 analysts' expectations of $3.10 billion. On average, analysts expect that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

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

Wall Street Analyst Weigh In

A number of research analysts have issued reports on the company. Evercore ISI reissued an "in-line" rating and issued a $289.00 target price (up from $279.00) on shares of Norfolk Southern in a research note on Wednesday, July 30th. Jefferies Financial Group reiterated a "hold" rating and set a $300.00 price objective on shares of Norfolk Southern in a report on Friday, July 25th. Susquehanna reissued a "neutral" rating and set a $260.00 target price (up from $250.00) on shares of Norfolk Southern in a research note on Tuesday, June 24th. Citigroup lifted their price target on shares of Norfolk Southern from $288.00 to $305.00 and gave the company a "neutral" rating in a research note on Wednesday, July 30th. Finally, TD Cowen upgraded shares of Norfolk Southern from a "hold" rating to a "buy" rating and upped their price target for the company from $263.00 to $323.00 in a report on Monday, July 21st. Fourteen investment analysts have rated the stock with a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price 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.