Zurcher Kantonalbank Zurich Cantonalbank Has $10.57 Million Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Zurcher Kantonalbank Zurich Cantonalbank grew its holdings in Norfolk Southern Co. (NYSE:NSC) by 0.1% during the fourth quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 45,028 shares of the railroad operator’s stock after purchasing an additional 49 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in Norfolk Southern were worth $10,568,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Raab & Moskowitz Asset Management LLC raised its stake in Norfolk Southern by 2.4% during the 3rd quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator’s stock worth $435,000 after buying an additional 41 shares during the period. Archer Investment Corp raised its stake in Norfolk Southern by 2.3% during the 3rd quarter. Archer Investment Corp now owns 1,934 shares of the railroad operator’s stock worth $481,000 after buying an additional 43 shares during the period. Albert D Mason Inc. raised its stake in Norfolk Southern by 0.7% during the 4th quarter. Albert D Mason Inc. now owns 6,881 shares of the railroad operator’s stock worth $1,615,000 after buying an additional 46 shares during the period. Signal Advisors Wealth LLC raised its stake in Norfolk Southern by 5.4% during the 4th quarter. Signal Advisors Wealth LLC now owns 960 shares of the railroad operator’s stock worth $225,000 after buying an additional 49 shares during the period. Finally, MassMutual Private Wealth & Trust FSB raised its stake in Norfolk Southern by 2.0% during the 4th quarter. MassMutual Private Wealth & Trust FSB now owns 2,507 shares of the railroad operator’s stock worth $588,000 after buying an additional 49 shares during the period. 75.10% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several brokerages have recently commented on NSC. Deutsche Bank Aktiengesellschaft began coverage on Norfolk Southern in a research note on Friday, March 7th. They issued a “buy” rating and a $293.00 price objective for the company. Royal Bank of Canada increased their price objective on Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research note on Thursday, January 30th. Stephens increased their price objective on Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. Benchmark reissued a “buy” rating and issued a $285.00 price objective on shares of Norfolk Southern in a research note on Thursday, January 30th. Finally, Robert W. Baird increased their price objective on Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $276.95.

Insiders Place Their Bets

In related news, Director Gilbert H. Lamphere bought 607 shares of the company’s stock in a transaction on Friday, January 31st. The shares were purchased at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the transaction, the director now directly owns 2,487 shares in the company, valued at approximately $646,271.82. The trade was a 32.29 % increase in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Company insiders own 0.19% of the company’s stock.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $227.29 on Friday. The stock has a fifty day simple moving average of $246.36 and a two-hundred day simple moving average of $250.58. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The firm has a market cap of $51.47 billion, a price-to-earnings 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 announced its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, beating 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%. Analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.38%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is 46.71%.

About Norfolk Southern

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.