Pacer Advisors Inc. Boosts Stake in Norfolk Southern Co. (NYSE:NSC)

Pacer Advisors Inc. lifted its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 10.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 18,674 shares of the railroad operator’s stock after purchasing an additional 1,738 shares during the quarter. Pacer Advisors Inc.’s holdings in Norfolk Southern were worth $4,383,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. NewEdge Advisors LLC increased its position in shares of Norfolk Southern by 5.1% during the second quarter. NewEdge Advisors LLC now owns 16,099 shares of the railroad operator’s stock valued at $3,456,000 after acquiring an additional 784 shares during the last quarter. Northwestern Mutual Wealth Management Co. boosted its position in shares of Norfolk Southern by 3.4% during the 2nd quarter. Northwestern Mutual Wealth Management Co. now owns 29,528 shares of the railroad operator’s stock worth $6,339,000 after purchasing an additional 960 shares during the period. Strategic Investment Solutions Inc. IL acquired a new stake in Norfolk Southern in the 2nd quarter valued at approximately $39,000. Creekside Partners purchased a new stake in Norfolk Southern in the second quarter valued at approximately $211,000. Finally, Sanctuary Advisors LLC acquired a new position in Norfolk Southern during the second quarter worth $9,937,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

NSC stock opened at $257.50 on Friday. The stock has a market cap of $58.26 billion, a price-to-earnings ratio of 24.18, a PEG ratio of 2.29 and a beta of 1.34. Norfolk Southern Co. has a fifty-two week low of $206.71 and a fifty-two week high of $277.60. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. The business has a 50 day moving average price of $249.36 and a 200 day moving average price of $248.69.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.07. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. Equities research analysts anticipate that Norfolk Southern Co. will post 11.78 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Thursday, February 20th. Stockholders of record on Friday, February 7th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is currently 50.70%.

Analysts Set New Price Targets

A number of brokerages have recently weighed in on NSC. Stephens lifted their price objective on Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a research note on Thursday. Evercore ISI cut their price target on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Citigroup increased their price target on shares of Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. UBS Group upped their target price on shares of Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. raised their price target on shares of Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a research report on Thursday. One equities research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $277.74.

Insider Activity

In other Norfolk Southern news, Director Sameh Fahmy bought 350 shares of the business’s stock in a transaction dated Thursday, December 12th. The shares were acquired at an average cost of $249.37 per share, with a total value of $87,279.50. Following the acquisition, the director now directly owns 10,350 shares of the company’s stock, valued at $2,580,979.50. The trade was a 3.50 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

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.