Norfolk Southern Co. (NYSE:NSC) Shares Sold by Zurcher Kantonalbank Zurich Cantonalbank

Zurcher Kantonalbank Zurich Cantonalbank lowered its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 0.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 40,442 shares of the railroad operator’s stock after selling 240 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Norfolk Southern were worth $9,560,000 at the end of the most recent quarter.

Several other large investors have also modified their holdings of the stock. Axiom Financial Strategies LLC boosted its holdings in Norfolk Southern by 9.2% in the first quarter. Axiom Financial Strategies LLC now owns 852 shares of the railroad operator’s stock valued at $220,000 after acquiring an additional 72 shares during the last quarter. Fairfield Bush & CO. purchased a new position in shares of Norfolk Southern in the 1st quarter worth about $81,000. United Bank lifted its stake in shares of Norfolk Southern by 2.0% in the 1st quarter. United Bank now owns 7,581 shares of the railroad operator’s stock valued at $2,162,000 after purchasing an additional 148 shares in the last quarter. Cetera Investment Advisers grew its holdings in shares of Norfolk Southern by 4.6% during the 1st quarter. Cetera Investment Advisers now owns 8,640 shares of the railroad operator’s stock worth $2,464,000 after purchasing an additional 377 shares during the period. Finally, Sequoia Financial Advisors LLC increased its position in Norfolk Southern by 13.3% during the 1st quarter. Sequoia Financial Advisors LLC now owns 1,946 shares of the railroad operator’s stock worth $555,000 after purchasing an additional 228 shares in the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on NSC. The Goldman Sachs Group lifted their price target on shares of Norfolk Southern from $252.00 to $283.00 and gave the company a “buy” rating in a research report on Thursday, March 21st. Jefferies Financial Group began coverage on shares of Norfolk Southern in a research report on Monday, April 8th. They set a “buy” rating and a $300.00 price target for the company. Benchmark raised their price objective on Norfolk Southern from $250.00 to $277.00 and gave the company a “buy” rating in a research report on Wednesday, April 10th. UBS Group upgraded Norfolk Southern from a “neutral” rating to a “buy” rating and increased their target price for the company from $238.00 to $302.00 in a research note on Monday, March 4th. Finally, Susquehanna reduced their price target on Norfolk Southern from $270.00 to $265.00 and set a “neutral” rating on the stock in a research report on Wednesday, April 10th. One research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $262.74.

Norfolk Southern Price Performance

NSC opened at $241.28 on Friday. The company has a debt-to-equity ratio of 1.34, a quick ratio of 1.14 and a current ratio of 1.24. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66. The company has a 50-day moving average of $252.95 and a 200-day moving average of $231.07. The company has a market capitalization of $59.41 billion, a P/E ratio of 30.08, a PEG ratio of 3.28 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Friday, January 26th. The railroad operator reported $2.83 earnings per share for the quarter, missing the consensus estimate of $2.87 by ($0.04). Norfolk Southern had a net margin of 15.03% and a return on equity of 21.06%. The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.09 billion. During the same period in the prior year, the firm earned $3.42 earnings per share. The firm’s quarterly revenue was down 4.2% compared to the same quarter last year. Equities analysts expect that Norfolk Southern Co. will post 11.98 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Tuesday, February 20th. Shareholders of record on Friday, February 2nd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.24%. The ex-dividend date was Thursday, February 1st. Norfolk Southern’s dividend payout ratio is presently 67.33%.

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.