Pacer Advisors Inc. Sells 3,941 Shares of Norfolk Southern Corporation $NSC

Pacer Advisors Inc. lessened its holdings in Norfolk Southern Corporation (NYSE:NSC) by 21.6% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 14,339 shares of the railroad operator’s stock after selling 3,941 shares during the period. Pacer Advisors Inc.’s holdings in Norfolk Southern were worth $4,115,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Norges Bank acquired a new stake in Norfolk Southern during the fourth quarter valued at approximately $1,084,701,000. Pentwater Capital Management LP acquired a new position in shares of Norfolk Southern in the 3rd quarter worth approximately $826,128,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of Norfolk Southern by 545.2% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,306,203 shares of the railroad operator’s stock worth $392,396,000 after buying an additional 1,103,748 shares during the period. Balyasny Asset Management L.P. bought a new position in shares of Norfolk Southern during the 3rd quarter worth approximately $329,629,000. Finally, HBK Investments L P boosted its stake in Norfolk Southern by 67.7% in the 4th quarter. HBK Investments L P now owns 2,130,000 shares of the railroad operator’s stock valued at $614,974,000 after buying an additional 860,000 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Trading Up 0.0%

NSC stock opened at $341.85 on Friday. The business has a fifty day moving average price of $321.52 and a 200 day moving average price of $309.49. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73. Norfolk Southern Corporation has a fifty-two week low of $268.23 and a fifty-two week high of $358.60. The stock has a market capitalization of $76.78 billion, a price-to-earnings ratio of 29.17, a P/E/G ratio of 6.08 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, topping analysts’ consensus estimates of $3.32 by $0.20. The company had revenue of $3.46 billion for the quarter, compared to analyst estimates of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The business’s revenue was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the firm earned $3.29 earnings per share. Analysts expect that Norfolk Southern Corporation will post 12.6 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Friday, August 7th will be given a dividend of $1.35 per share. The ex-dividend date is Friday, August 7th. This represents a $5.40 annualized dividend and a yield of 1.6%. Norfolk Southern’s dividend payout ratio is 46.08%.

Wall Street Analysts Forecast Growth

A number of analysts have weighed in on the company. Royal Bank Of Canada upped their price target on Norfolk Southern from $320.00 to $360.00 and gave the company a “sector perform” rating in a research report on Friday, July 24th. Wall Street Zen upgraded shares of Norfolk Southern from a “sell” rating to a “hold” rating in a research note on Saturday, May 2nd. Evercore set a $358.00 target price on shares of Norfolk Southern in a report on Thursday, July 23rd. Wells Fargo & Company increased their target price on shares of Norfolk Southern from $365.00 to $385.00 and gave the stock an “overweight” rating in a research report on Friday, July 24th. Finally, UBS Group reissued a “neutral” rating and set a $363.00 price target on shares of Norfolk Southern in a report on Friday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat, Norfolk Southern has an average rating of “Hold” and a consensus price target of $348.00.

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.