Swiss National Bank Boosts Stock Position in Norfolk Southern Corporation $NSC

Key Points

• Swiss National Bank increased its Norfolk Southern stake by 7.2% in Q1, buying 44,080 more shares and lifting its position to 658,520 shares valued at about $189 million.
• Norfolk Southern reported better-than-expected quarterly earnings of $2.65 per share, though revenue of $3 billion came in below estimates and was only slightly above last year.
• Analysts are largely cautious on the stock: the consensus rating is Hold with an average price target of $329.35, even after several firms recently raised targets.

Swiss National Bank boosted its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 7.2% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 658,520 shares of the railroad operator's stock after purchasing an additional 44,080 shares during the quarter. Swiss National Bank owned approximately 0.29% of Norfolk Southern worth $188,995,000 at the end of the most recent reporting period.

Several other hedge funds have also modified their holdings of NSC. JPL Wealth Management LLC purchased a new position in shares of Norfolk Southern in the 3rd quarter worth approximately $25,000. BNP Paribas purchased a new stake in Norfolk Southern during the second quarter valued at approximately $26,000. Meeder Asset Management Inc. boosted its stake in Norfolk Southern by 239.3% in the fourth quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator's stock valued at $27,000 after acquiring an additional 67 shares in the last quarter. FNY Investment Advisers LLC boosted its stake in Norfolk Southern by 669.2% in the third quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator's stock valued at $30,000 after acquiring an additional 87 shares in the last quarter. Finally, Financial Life Planners purchased a new position in Norfolk Southern in the first quarter worth $33,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Trading Up 0.0%

Shares of Norfolk Southern stock opened at $340.24 on Monday. The firm's 50 day simple moving average is $314.78 and its two-hundred day simple moving average is $304.50. The firm has a market capitalization of $76.42 billion, a price-to-earnings ratio of 28.66, a PEG ratio of 6.22 and a beta of 1.27. Norfolk Southern Corporation has a 12-month low of $268.23 and a 12-month high of $342.53. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping the consensus estimate of $2.49 by $0.16. The business had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The business's revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the previous year, the firm posted $2.69 earnings per share. Analysts predict that Norfolk Southern Corporation will post 12.24 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. Norfolk Southern's payout ratio is currently 45.49%.

Analysts Set New Price Targets

A number of equities analysts have recently issued reports on the company. Robert W. Baird upped their price target on Norfolk Southern from $330.00 to $360.00 and gave the stock a "neutral" rating in a research report on Friday, July 10th. Stephens upgraded Norfolk Southern to a "hold" rating in a research note on Wednesday, July 8th. JPMorgan Chase & Co. reduced their target price on Norfolk Southern from $331.00 to $316.00 and set a "neutral" rating on the stock in a research report on Friday, July 10th. Susquehanna increased their price target on Norfolk Southern from $337.00 to $360.00 and gave the company a "neutral" rating in a research note on Tuesday, July 14th. Finally, TD Cowen raised their price target on Norfolk Southern from $313.00 to $337.00 and gave the stock a "buy" rating in a report on Monday, April 27th. Six equities research analysts have rated the stock with a Buy rating and seventeen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $329.35.

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.

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