Pacer Advisors Inc. Increases Holdings in Norfolk Southern Co. (NYSE:NSC)

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

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Lake Street Advisors Group LLC boosted its holdings in shares of Norfolk Southern by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock valued at $563,000 after acquiring an additional 41 shares during the last quarter. Raab & Moskowitz Asset Management LLC boosted its holdings in Norfolk Southern by 2.4% in the third quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator’s stock valued at $435,000 after purchasing an additional 41 shares during the last quarter. Foster Victor Wealth Advisors LLC grew its position in Norfolk Southern by 4.2% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator’s stock worth $256,000 after purchasing an additional 42 shares during the period. Stratos Investment Management LLC raised its stake in shares of Norfolk Southern by 3.8% during the 3rd quarter. Stratos Investment Management LLC now owns 1,154 shares of the railroad operator’s stock valued at $287,000 after buying an additional 42 shares during the last quarter. Finally, Archer Investment Corp lifted its holdings in shares of Norfolk Southern by 2.3% in the 3rd quarter. Archer Investment Corp now owns 1,934 shares of the railroad operator’s stock valued at $481,000 after buying an additional 43 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Trading Up 0.3 %

Shares of NSC opened at $257.50 on Friday. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60. The stock has a market cap of $58.26 billion, a PE ratio of 24.18, a price-to-earnings-growth ratio of 2.29 and a beta of 1.34. The firm’s fifty day moving average is $249.36 and its two-hundred day moving average is $248.69. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data 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%. Research analysts forecast that Norfolk Southern Co. will post 11.78 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

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

Insiders Place Their Bets

In related news, Director Sameh Fahmy purchased 350 shares of Norfolk Southern stock in a transaction dated Thursday, December 12th. The shares were acquired at an average price of $249.37 per share, for a total transaction of $87,279.50. Following the acquisition, the director now directly owns 10,350 shares in the company, valued at approximately $2,580,979.50. The trade was a 3.50 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Analyst Ratings Changes

NSC has been the subject of several recent research reports. Wells Fargo & Company reduced their price target on Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. UBS Group lifted their target price on shares of Norfolk Southern from $289.00 to $309.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Robert W. Baird increased their price target on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday. Stifel Nicolaus lifted their price objective on shares of Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a report on Friday, October 11th. Finally, Benchmark reiterated a “buy” rating and issued a $285.00 price objective on shares of Norfolk Southern in a research report on Thursday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $277.74.

Norfolk Southern Profile

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.