California Public Employees Retirement System Buys 1,520 Shares of Norfolk Southern Corporation $NSC

California Public Employees Retirement System boosted its stake in Norfolk Southern Corporation (NYSE:NSC) by 0.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 415,656 shares of the railroad operator’s stock after purchasing an additional 1,520 shares during the quarter. California Public Employees Retirement System’s holdings in Norfolk Southern were worth $119,293,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also bought and sold shares of the stock. Brighton Jones LLC grew its position in Norfolk Southern by 4.9% in the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock worth $400,000 after acquiring an additional 79 shares in the last quarter. Intech Investment Management LLC raised its position in Norfolk Southern by 40.4% during the first quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock valued at $1,527,000 after purchasing an additional 1,855 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Norfolk Southern during the second quarter worth about $327,000. Schnieders Capital Management LLC. lifted its stake in Norfolk Southern by 64.1% during the second quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock worth $1,094,000 after purchasing an additional 1,670 shares during the last quarter. Finally, Jump Financial LLC boosted its holdings in shares of Norfolk Southern by 185.1% in the 2nd quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator’s stock worth $1,174,000 after purchasing an additional 2,979 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Several equities analysts have recently commented on the company. TD Cowen increased their price objective on Norfolk Southern from $313.00 to $337.00 and gave the company a “buy” rating in a research report on Monday, April 27th. Jefferies Financial Group cut their target price on Norfolk Southern from $350.00 to $310.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Wolfe Research increased their price target on shares of Norfolk Southern from $350.00 to $355.00 and gave the company an “outperform” rating in a research report on Tuesday, April 7th. Stephens raised shares of Norfolk Southern to a “hold” rating in a research note on Wednesday, July 8th. Finally, Wells Fargo & Company boosted their price objective on shares of Norfolk Southern from $350.00 to $365.00 and gave the stock an “overweight” rating in a report on Wednesday, July 8th. Six analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $329.35.

Norfolk Southern Stock Up 0.6%

Shares of NYSE:NSC opened at $340.24 on Friday. The stock has a market capitalization of $76.42 billion, a P/E ratio of 28.66, a price-to-earnings-growth ratio of 6.22 and a beta of 1.27. The stock’s 50-day moving average price is $314.78 and its 200-day moving average price is $304.41. The company has a current ratio of 0.91, a quick ratio of 0.81 and a debt-to-equity ratio of 1.04. Norfolk Southern Corporation has a 12-month low of $268.23 and a 12-month high of $342.53.

Norfolk Southern (NYSE:NSC) last released its earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.Norfolk Southern’s revenue for the quarter was up .2% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.69 EPS. On average, equities analysts anticipate that Norfolk Southern Corporation will post 12.24 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern’s payout ratio is 45.49%.

Norfolk Southern 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.