Zurcher Kantonalbank Zurich Cantonalbank Buys 17,273 Shares of Norfolk Southern Corporation $NSC

Key Points

• Zurcher Kantonalbank boosted its Norfolk Southern stake by 31.7%, buying 17,273 shares to hold 71,717 shares valued at about $20.71 million at the end of the quarter.
• Analyst views are mixed but the consensus rating is Hold with a consensus target price of $308.78, after several firms recently adjusted ratings and price targets (e.g., UBS downgraded to neutral).
• Norfolk Southern beat quarterly EPS estimates ($3.22 vs. $2.76) while revenue slightly missed, and it pays a $1.35 quarterly dividend (annualized $5.40, yield ~1.8%).

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 31.7% in the 4th quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 71,717 shares of the railroad operator's stock after purchasing an additional 17,273 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank's holdings in Norfolk Southern were worth $20,706,000 at the end of the most recent quarter.

Several other large investors have also bought and sold shares of NSC. Brighton Jones LLC raised its position in Norfolk Southern by 4.9% during the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator's stock worth $400,000 after purchasing an additional 79 shares during the last quarter. Intech Investment Management LLC raised its position in shares of Norfolk Southern by 40.4% in the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator's stock worth $1,527,000 after acquiring an additional 1,855 shares in the last quarter. Sivia Capital Partners LLC bought a new position in shares of Norfolk Southern in the 2nd quarter worth about $327,000. Schnieders Capital Management LLC. raised its position in shares of Norfolk Southern by 64.1% in the 2nd quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator's stock worth $1,094,000 after acquiring an additional 1,670 shares in the last quarter. Finally, Jump Financial LLC raised its position in shares of Norfolk Southern by 185.1% in the 2nd quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator's stock worth $1,174,000 after acquiring an additional 2,979 shares in the last quarter. 75.10% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several research firms have recently weighed in on NSC. Susquehanna lifted their price objective on Norfolk Southern from $304.00 to $305.00 and gave the stock a "neutral" rating in a research report on Friday, January 30th. Benchmark reissued a "hold" rating on shares of Norfolk Southern in a research report on Friday, January 30th. UBS Group lowered Norfolk Southern from a "buy" rating to a "neutral" rating and set a $342.00 price objective for the company. in a research report on Friday, February 6th. Rothschild & Co Redburn lowered their price objective on Norfolk Southern from $317.00 to $308.00 and set a "neutral" rating for the company in a research report on Wednesday, April 1st. Finally, Wall Street Zen upgraded Norfolk Southern to a "sell" rating in a research note on Saturday, April 4th. Seven research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus target price of $308.78.

Norfolk Southern Stock Performance

Shares of NSC opened at $302.12 on Wednesday. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78. The stock has a 50-day moving average of $299.75 and a 200-day moving average of $293.36. The company has a market cap of $73.97 billion, a PE ratio of 23.70, a P/E/G ratio of 5.60 and a beta of 1.31. Norfolk Southern Corporation has a one year low of $217.33 and a one year high of $319.94.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its earnings results on Thursday, January 29th. The railroad operator reported $3.22 EPS for the quarter, beating the consensus estimate of $2.76 by $0.46. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.03 billion. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The firm's revenue for the quarter was down 1.7% compared to the same quarter last year. During the same period last year, the business posted $3.04 EPS. On average, equities research analysts predict that Norfolk Southern Corporation will post 12.15 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were paid a dividend of $1.35 per share. The ex-dividend date was Friday, February 6th. This represents a $5.40 dividend on an annualized basis and a yield of 1.8%. Norfolk Southern's payout ratio is 42.35%.

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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