Zurcher Kantonalbank Zurich Cantonalbank Boosts Stock Position in Norfolk Southern Co. (NYSE:NSC)

Zurcher Kantonalbank Zurich Cantonalbank grew its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 0.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 45,028 shares of the railroad operator’s stock after acquiring an additional 49 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Norfolk Southern were worth $10,568,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in NSC. United Bank raised its position in shares of Norfolk Southern by 2.4% in the third quarter. United Bank now owns 8,875 shares of the railroad operator’s stock worth $2,205,000 after buying an additional 204 shares in the last quarter. Assetmark Inc. raised its position in shares of Norfolk Southern by 3.3% in the third quarter. Assetmark Inc. now owns 2,921 shares of the railroad operator’s stock worth $726,000 after buying an additional 94 shares in the last quarter. Harbour Investments Inc. raised its position in shares of Norfolk Southern by 17.3% in the third quarter. Harbour Investments Inc. now owns 2,377 shares of the railroad operator’s stock worth $591,000 after buying an additional 350 shares in the last quarter. GSA Capital Partners LLP raised its position in shares of Norfolk Southern by 17.2% in the third quarter. GSA Capital Partners LLP now owns 2,639 shares of the railroad operator’s stock worth $656,000 after buying an additional 388 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. raised its position in shares of Norfolk Southern by 0.7% in the third quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator’s stock worth $132,565,000 after buying an additional 3,621 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Down 1.6 %

Shares of NYSE:NSC opened at $227.29 on Friday. The stock’s 50-day moving average price is $246.36 and its 200-day moving average price is $250.58. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60. The stock has a market capitalization of $51.47 billion, a P/E ratio of 19.66, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. On average, equities analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were paid a $1.35 dividend. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 annualized dividend and a dividend yield of 2.38%. Norfolk Southern’s payout ratio is presently 46.71%.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on NSC shares. Wells Fargo & Company lowered their price objective on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. JPMorgan Chase & Co. increased their price objective on Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Susquehanna lowered their price target on Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a research report on Wednesday, January 8th. Deutsche Bank Aktiengesellschaft initiated coverage on Norfolk Southern in a research report on Friday, March 7th. They set a “buy” rating and a $293.00 price target on the stock. Finally, Royal Bank of Canada raised their price target on Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $276.95.

Insider Buying and Selling

In other Norfolk Southern news, Director Gilbert H. Lamphere bought 607 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of the purchase, the director now directly owns 2,487 shares of the company’s stock, valued at $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 0.19% of the stock is owned by insiders.

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.