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

Pacer Advisors Inc. reduced its position in Norfolk Southern Co. (NYSE:NSCGet Rating) by 2.1% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 13,443 shares of the railroad operator’s stock after selling 284 shares during the period. Pacer Advisors Inc.’s holdings in Norfolk Southern were worth $3,834,000 at the end of the most recent quarter.

Other large investors have also recently bought and sold shares of the company. Arlington Partners LLC purchased a new position in Norfolk Southern in the 4th quarter valued at about $27,000. Vectors Research Management LLC boosted its position in Norfolk Southern by 468.8% in the 4th quarter. Vectors Research Management LLC now owns 91 shares of the railroad operator’s stock valued at $27,000 after buying an additional 75 shares during the last quarter. Benjamin Edwards Inc. boosted its position in Norfolk Southern by 141.4% in the 4th quarter. Benjamin Edwards Inc. now owns 140 shares of the railroad operator’s stock valued at $42,000 after buying an additional 82 shares during the last quarter. HWG Holdings LP purchased a new position in Norfolk Southern in the 4th quarter valued at about $43,000. Finally, Atticus Wealth Management LLC bought a new position in shares of Norfolk Southern during the fourth quarter worth about $45,000. 73.63% of the stock is owned by institutional investors.

Several equities analysts have recently commented on NSC shares. JPMorgan Chase & Co. reduced their price target on shares of Norfolk Southern from $318.00 to $308.00 and set an “overweight” rating on the stock in a research report on Friday, April 8th. Susquehanna reduced their price target on shares of Norfolk Southern from $356.00 to $350.00 and set a “positive” rating on the stock in a research report on Thursday, April 7th. StockNews.com started coverage on shares of Norfolk Southern in a research report on Thursday, March 31st. They set a “hold” rating on the stock. TD Securities increased their price target on shares of Norfolk Southern from $300.00 to $305.00 and gave the stock a “buy” rating in a research report on Thursday, April 28th. Finally, Citigroup lowered shares of Norfolk Southern from a “buy” rating to a “neutral” rating and dropped their price objective for the stock from $345.00 to $260.00 in a research note on Thursday, May 19th. Two investment analysts have rated the stock with a sell rating, six have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $301.82.

In related news, CEO Alan H. Shaw sold 1,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 1st. The shares were sold at an average price of $241.84, for a total transaction of $241,840.00. Following the transaction, the chief executive officer now owns 34,255 shares in the company, valued at $8,284,229.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. 0.31% of the stock is owned by company insiders.

Shares of NYSE:NSC opened at $224.14 on Thursday. The firm’s 50 day moving average is $244.97 and its two-hundred day moving average is $265.82. Norfolk Southern Co. has a 52 week low of $219.31 and a 52 week high of $299.20. The firm has a market capitalization of $53.42 billion, a P/E ratio of 18.09, a PEG ratio of 1.52 and a beta of 1.37. The company has a current ratio of 0.96, a quick ratio of 0.87 and a debt-to-equity ratio of 1.02.

Norfolk Southern (NYSE:NSCGet Rating) last announced its quarterly earnings results on Wednesday, April 27th. The railroad operator reported $2.93 EPS for the quarter, beating the consensus estimate of $2.91 by $0.02. Norfolk Southern had a net margin of 26.58% and a return on equity of 21.95%. The company had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.83 billion. During the same quarter last year, the business earned $2.66 earnings per share. Norfolk Southern’s revenue was up 10.5% compared to the same quarter last year. Analysts predict that Norfolk Southern Co. will post 13.9 EPS for the current year.

The business also recently disclosed a quarterly dividend, which was paid on Friday, May 20th. Investors of record on Friday, May 6th were paid a dividend of $1.24 per share. The ex-dividend date of this dividend was Thursday, May 5th. This represents a $4.96 dividend on an annualized basis and a dividend yield of 2.21%. Norfolk Southern’s dividend payout ratio is presently 40.03%.

Norfolk Southern declared that its board has approved a share buyback plan on Tuesday, March 29th that authorizes the company to buyback $10.00 billion in outstanding shares. This buyback authorization authorizes the railroad operator to buy up to 14.6% of its stock through open market purchases. Stock buyback plans are typically a sign that the company’s board of directors believes its shares are undervalued.

Norfolk Southern Company Profile (Get Rating)

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, scrap paper, beverages, canned goods, and consumer products; chemicals consist of sulfur and related chemicals, petroleum products, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, and sand; 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.

Further Reading

Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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