588,715 Shares in Norfolk Southern Corporation $NSC Acquired by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board bought a new stake in Norfolk Southern Corporation (NYSE:NSC) during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 588,715 shares of the railroad operator’s stock, valued at approximately $185,204,000. Canada Pension Plan Investment Board owned approximately 0.26% of Norfolk Southern as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors have also recently bought and sold shares of NSC. JPL Wealth Management LLC acquired a new stake in shares of Norfolk Southern during the third quarter valued at $25,000. Edmond DE Rothschild Holding S.A. acquired a new position in Norfolk Southern in the 2nd quarter valued at about $26,000. BNP Paribas purchased a new position in Norfolk Southern in the 2nd quarter valued at about $26,000. Meeder Asset Management Inc. purchased a new position in Norfolk Southern in the 2nd quarter valued at about $27,000. Finally, Comprehensive Financial Planning Inc. PA acquired a new stake in shares of Norfolk Southern during the 2nd quarter worth about $31,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

NYSE NSC opened at $352.60 on Thursday. The firm has a market capitalization of $79.20 billion, a P/E ratio of 30.09, a P/E/G ratio of 6.18 and a beta of 1.27. Norfolk Southern Corporation has a 1-year low of $268.23 and a 1-year high of $358.60. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73. The business’s 50-day simple moving average is $330.95 and its 200-day simple moving average is $314.49.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.32 by $0.20. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The firm had revenue of $3.46 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the company earned $3.29 EPS. The company’s revenue was up 12.5% on a year-over-year basis. Equities analysts predict that Norfolk Southern Corporation will post 12.74 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were given a $1.35 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $5.40 annualized dividend and a dividend yield of 1.5%. Norfolk Southern’s dividend payout ratio is presently 46.08%.

Analysts Set New Price Targets

A number of brokerages have recently commented on NSC. JPMorgan Chase & Co. lifted their price target on shares of Norfolk Southern from $316.00 to $338.00 and gave the stock a “neutral” rating in a report on Friday, July 24th. BMO Capital Markets raised their target price on shares of Norfolk Southern from $310.00 to $355.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Royal Bank Of Canada lifted their target price on shares of Norfolk Southern from $320.00 to $360.00 and gave the stock a “sector perform” rating in a research note on Friday, July 24th. UBS Group reiterated a “neutral” rating and issued a $363.00 price target on shares of Norfolk Southern in a report on Friday, July 24th. Finally, Rothschild & Co Redburn increased their price target on Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a research note on Wednesday, April 29th. Seven investment analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and an average price target of $348.00.

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.