Zurcher Kantonalbank Zurich Cantonalbank Has $11.18 Million Position in Norfolk Southern Co. (NYSE:NSC)

Zurcher Kantonalbank Zurich Cantonalbank raised its holdings in Norfolk Southern Co. (NYSE:NSC) by 7.4% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 44,979 shares of the railroad operator’s stock after acquiring an additional 3,096 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Norfolk Southern were worth $11,177,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Mirae Asset Global Investments Co. Ltd. grew its stake in shares of Norfolk Southern by 20.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock worth $3,556,000 after purchasing an additional 2,453 shares during the period. Sumitomo Mitsui Trust Group Inc. boosted its holdings in Norfolk Southern by 0.7% during 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 during the last quarter. Pathway Financial Advisers LLC grew its position in shares of Norfolk Southern by 25,181.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock worth $222,025,000 after buying an additional 889,925 shares during the period. Seven Eight Capital LP bought a new stake in shares of Norfolk Southern in the 2nd quarter valued at about $1,676,000. Finally, Dakota Wealth Management increased its stake in Norfolk Southern by 2.1% in the third quarter. Dakota Wealth Management now owns 7,206 shares of the railroad operator’s stock valued at $1,791,000 after purchasing an additional 150 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Buying and Selling

In related news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $255.98, for a total value of $13,138,173.50. Following the transaction, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at $8,970,819.10. The trade was a 59.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sameh Fahmy bought 1,000 shares of the firm’s stock in a transaction on Thursday, October 24th. The shares were purchased at an average cost of $255.00 per share, with a total value of $255,000.00. Following the transaction, the director now directly owns 10,000 shares in the company, valued at approximately $2,550,000. This trade represents a 11.11 % increase in their position. The disclosure for this purchase can be found here. 0.19% of the stock is owned by corporate insiders.

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $275.85 on Friday. The stock has a market cap of $62.41 billion, a PE ratio of 25.90, a P/E/G ratio of 2.61 and a beta of 1.30. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60. The business’s 50-day moving average price is $256.63 and its two-hundred day moving average price is $241.50.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating the consensus estimate of $3.11 by $0.14. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The firm’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.65 EPS. As a group, analysts expect that Norfolk Southern Co. will post 11.82 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Friday, November 1st were issued a $1.35 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a yield of 1.96%. Norfolk Southern’s dividend payout ratio (DPR) is presently 50.70%.

Analyst Ratings Changes

A number of equities research analysts recently commented on the stock. Evercore ISI dropped their price objective on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Jefferies Financial Group increased their price objective on shares of Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research report on Thursday, October 10th. Royal Bank of Canada lifted their target price on shares of Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein increased their price target on shares of Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a report on Wednesday, October 9th. Finally, Citigroup boosted their price objective on Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $275.68.

Norfolk Southern Company 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.