1,032,910 Shares in Norfolk Southern Corporation $NSC Purchased by Primecap Management Co. CA

Primecap Management Co. CA purchased a new position in Norfolk Southern Corporation (NYSE:NSC) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 1,032,910 shares of the railroad operator’s stock, valued at approximately $324,943,000.

Other institutional investors have also recently made changes to their positions in the company. JPL Wealth Management LLC bought a new position in shares of Norfolk Southern during the 3rd quarter valued at approximately $25,000. Edmond DE Rothschild Holding S.A. bought a new stake in Norfolk Southern in the second quarter worth $26,000. BNP Paribas purchased a new stake in Norfolk Southern during the second quarter valued at $26,000. Meeder Asset Management Inc. purchased a new stake in Norfolk Southern during the second quarter valued at $27,000. Finally, Comprehensive Financial Planning Inc. PA purchased a new position in shares of Norfolk Southern in the 2nd quarter worth $31,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock opened at $351.73 on Wednesday. The company has a market capitalization of $79.00 billion, a PE ratio of 30.01, a P/E/G ratio of 6.25 and a beta of 1.27. The company has a 50-day simple moving average of $329.90 and a two-hundred day simple moving average of $314.17. Norfolk Southern Corporation has a one year low of $268.23 and a one year high of $358.60. The company has a debt-to-equity ratio of 0.98, a quick ratio of 0.73 and a current ratio of 0.83.

Norfolk Southern (NYSE:NSC) last released its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, topping the consensus estimate of $3.32 by $0.20. The company had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. Norfolk Southern’s revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.29 EPS. Research analysts expect that Norfolk Southern Corporation will post 12.66 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Shareholders of record on Friday, August 7th were issued a $1.35 dividend. The ex-dividend date was Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a yield of 1.5%. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.08%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on NSC. Rothschild & Co Redburn lifted their target price on Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Evercore set a $358.00 price target on Norfolk Southern in a report on Thursday, July 23rd. Robert W. Baird lifted their price objective on shares of Norfolk Southern from $360.00 to $377.00 and gave the stock a “neutral” rating in a research note on Monday, July 27th. BMO Capital Markets increased their target price on shares of Norfolk Southern from $310.00 to $355.00 and gave the company a “market perform” rating in a research note on Monday, July 27th. Finally, UBS Group restated a “neutral” rating and issued a $363.00 target price on shares of Norfolk Southern in a report on Friday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company’s stock. According to data from MarketBeat.com, Norfolk Southern currently has an average rating of “Hold” and an average price target of $348.00.

Norfolk Southern Company Profile

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.