Norfolk Southern Co. (NYSE:NSC) Shares Sold by Pacer Advisors Inc.

Posted by Defense World Staff on Sep 25th, 2023

Pacer Advisors Inc. trimmed its stake in shares of Norfolk Southern Co. (NYSE:NSC – Free Report) by 7.2% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 14,792 shares of the railroad operator’s stock after selling 1,145 shares during the quarter. Pacer Advisors Inc.’s holdings in Norfolk Southern were worth $3,354,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also made changes to their positions in the company. Private Advisor Group LLC acquired a new stake in shares of Norfolk Southern during the 1st quarter worth approximately $6,214,000. Cedar Brook Financial Partners LLC acquired a new stake in Norfolk Southern in the 2nd quarter valued at approximately $220,000. Crewe Advisors LLC increased its position in Norfolk Southern by 9.1% in the 1st quarter. Crewe Advisors LLC now owns 1,168 shares of the railroad operator’s stock valued at $248,000 after acquiring an additional 97 shares during the period. Mn Services Vermogensbeheer B.V. increased its position in Norfolk Southern by 4.1% in the 1st quarter. Mn Services Vermogensbeheer B.V. now owns 119,260 shares of the railroad operator’s stock valued at $25,283,000 after acquiring an additional 4,700 shares during the period. Finally, ProShare Advisors LLC increased its position in Norfolk Southern by 11.6% in the 1st quarter. ProShare Advisors LLC now owns 40,430 shares of the railroad operator’s stock valued at $8,571,000 after acquiring an additional 4,211 shares during the period. 72.37% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock opened at $202.50 on Monday. The stock has a market cap of $45.97 billion, a PE ratio of 18.21, a price-to-earnings-growth ratio of 2.44 and a beta of 1.29. The business has a fifty day simple moving average of $215.25 and a 200-day simple moving average of $213.92. The company has a quick ratio of 0.59, a current ratio of 0.68 and a debt-to-equity ratio of 1.15. Norfolk Southern Co. has a 12 month low of $194.05 and a 12 month high of $261.71.

Norfolk Southern (NYSE:NSC – Get Free Report) last issued its earnings results on Thursday, July 27th. The railroad operator reported $2.95 EPS for the quarter, missing the consensus estimate of $3.15 by ($0.20). The business had revenue of $2.98 billion during the quarter, compared to analyst estimates of $3.08 billion. Norfolk Southern had a return on equity of 24.88% and a net margin of 20.25%. The business’s quarterly revenue was down 8.3% on a year-over-year basis. During the same period last year, the business earned $3.45 EPS. On average, sell-side analysts anticipate that Norfolk Southern Co. will post 12.38 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Monday, August 21st. Stockholders of record on Friday, August 4th were given a $1.35 dividend. The ex-dividend date was Thursday, August 3rd. This represents a $5.40 annualized dividend and a dividend yield of 2.67%. Norfolk Southern’s dividend payout ratio (DPR) is presently 48.56%.

Analyst Ratings Changes

Several analysts recently commented on the company. Vertical Research upgraded Norfolk Southern from a “hold” rating to a “buy” rating and set a $260.00 target price on the stock in a research report on Tuesday, July 11th. Wells Fargo & Company raised their target price on Norfolk Southern from $250.00 to $260.00 in a research report on Tuesday, July 11th. Stifel Nicolaus raised their target price on Norfolk Southern from $242.00 to $262.00 in a research report on Monday, July 17th. Royal Bank of Canada raised their target price on Norfolk Southern from $210.00 to $227.00 in a research report on Friday, July 28th. Finally, TD Cowen increased their price target on Norfolk Southern from $243.00 to $253.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Thirteen analysts have rated the stock with a hold rating and fourteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus target price of $245.40.

Read Our Latest Research Report on NSC

Norfolk Southern Company Profile

(Free Report)

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.