CIBC Bancorp USA Inc. Purchases Shares of 205,991 Norfolk Southern Corporation $NSC

CIBC Bancorp USA Inc. acquired a new position in shares of Norfolk Southern Corporation (NYSE:NSC) during the third quarter, HoldingsChannel reports. The firm acquired 205,991 shares of the railroad operator’s stock, valued at approximately $61,882,000.

Several other large investors also recently made changes to their positions in the stock. Brighton Jones LLC lifted its stake in Norfolk Southern by 4.9% in the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after acquiring an additional 79 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of Norfolk Southern by 40.4% during the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock worth $1,527,000 after purchasing an additional 1,855 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Norfolk Southern during the 2nd quarter worth about $327,000. Schnieders Capital Management LLC. raised its holdings 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 valued at $1,094,000 after purchasing an additional 1,670 shares during the period. Finally, Foundations Investment Advisors LLC lifted its stake in Norfolk Southern by 1.1% in the 2nd quarter. Foundations Investment Advisors LLC now owns 4,460 shares of the railroad operator’s stock valued at $1,142,000 after purchasing an additional 47 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Up 0.2%

Norfolk Southern stock opened at $291.41 on Wednesday. The company’s 50-day moving average price is $300.80 and its two-hundred day moving average price is $292.41. The company has a quick ratio of 0.78, a current ratio of 0.85 and a debt-to-equity ratio of 1.06. The stock has a market cap of $65.44 billion, a P/E ratio of 22.86, a P/E/G ratio of 5.25 and a beta of 1.31. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $319.94.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.76 by $0.46. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.03 billion. During the same quarter in the previous year, the company posted $3.04 earnings per share. The business’s revenue was down 1.7% on a year-over-year basis. As a group, analysts expect that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were paid a $1.35 dividend. The ex-dividend date was Friday, February 6th. This represents a $5.40 annualized dividend and a yield of 1.9%. Norfolk Southern’s payout ratio is 42.35%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the company. Benchmark reissued a “hold” rating on shares of Norfolk Southern in a research report on Friday, January 30th. UBS Group cut 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. Citigroup reduced their target price on Norfolk Southern from $317.00 to $300.00 and set a “neutral” rating for the company in a research note on Friday, January 30th. Rothschild & Co Redburn boosted their target price on Norfolk Southern from $299.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, March 4th. Finally, Zacks Research upgraded Norfolk Southern from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Eight research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $308.95.

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.