Zurcher Kantonalbank Zurich Cantonalbank Has $20.71 Million Stake in Norfolk Southern Corporation $NSC

Zurcher Kantonalbank Zurich Cantonalbank raised its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 31.7% in the fourth quarter, according to its most recent 13F filing with the SEC. 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 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. ORG Partners LLC lifted its position in shares of Norfolk Southern by 75.0% during the 3rd quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock worth $25,000 after buying an additional 36 shares in the last quarter. JPL Wealth Management LLC bought a new position in shares of Norfolk Southern during the 3rd quarter worth approximately $25,000. Westside Investment Management Inc. lifted its position in shares of Norfolk Southern by 207.1% during the 3rd quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock worth $26,000 after buying an additional 58 shares in the last quarter. BNP Paribas bought a new position in shares of Norfolk Southern during the 2nd quarter worth approximately $26,000. Finally, GoalVest Advisory LLC lifted its position in shares of Norfolk Southern by 933.3% during the 4th quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock worth $27,000 after buying an additional 84 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Trading Down 0.7%

NYSE:NSC opened at $302.12 on Wednesday. The company has a current ratio of 0.85, a quick ratio of 0.78 and a debt-to-equity ratio of 1.06. The stock has a market capitalization of $73.97 billion, a PE ratio of 23.70, a price-to-earnings-growth ratio of 5.60 and a beta of 1.31. The firm’s 50 day moving average is $299.75 and its 200 day moving average is $293.36. Norfolk Southern Corporation has a 12 month low of $217.33 and a 12 month high of $319.94.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.76 by $0.46. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.03 billion. During the same quarter in the previous year, the firm posted $3.04 EPS. The business’s revenue for the quarter was down 1.7% compared to the same quarter last year. Sell-side analysts expect that Norfolk Southern Corporation will post 12.15 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend 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 presently 42.35%.

Analyst Upgrades and Downgrades

Several equities analysts have commented on the stock. Wolfe Research lifted their target price on shares of Norfolk Southern from $350.00 to $355.00 and gave the stock an “outperform” rating in a research report on Tuesday, April 7th. Wall Street Zen raised shares of Norfolk Southern to a “sell” rating in a research report on Saturday, April 4th. Rothschild & Co Redburn dropped their target price on shares of Norfolk Southern from $317.00 to $308.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 1st. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a research report on Friday, January 30th. Finally, Susquehanna lifted their target price on shares of Norfolk Southern from $304.00 to $305.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Seven analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average price target of $308.78.

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.