Public Sector Pension Investment Board Boosts Stock Position in Norfolk Southern Co. (NYSE:NSC)

Public Sector Pension Investment Board lifted its position in shares of Norfolk Southern Co. (NYSE:NSC) by 1,840.0% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 355,152 shares of the railroad operator’s stock after acquiring an additional 336,845 shares during the quarter. Public Sector Pension Investment Board owned 0.16% of Norfolk Southern worth $88,255,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NSC. Lake Street Advisors Group LLC lifted its holdings in shares of Norfolk Southern by 1.8% during the 3rd quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock worth $563,000 after acquiring an additional 41 shares during the period. Hall Capital Management Co. Inc. raised its holdings in Norfolk Southern by 2.8% during the 2nd quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator’s stock worth $325,000 after purchasing an additional 42 shares during the last quarter. Blue Chip Partners LLC lifted its holdings in Norfolk Southern by 0.5% in the second quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock valued at $1,656,000 after buying an additional 42 shares during the period. Stephens Consulting LLC boosted its position in shares of Norfolk Southern by 12.4% in the 2nd quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock worth $82,000 after purchasing an additional 42 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC grew its position in shares of 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 buying an additional 42 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

NYSE:NSC opened at $275.38 on Thursday. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month 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 firm’s fifty day simple moving average is $255.60 and its 200 day simple moving average is $240.87. The stock has a market cap of $62.30 billion, a P/E ratio of 25.86, a price-to-earnings-growth ratio of 2.62 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.08 billion. During the same period in the previous year, the firm posted $2.65 EPS. The business’s revenue for the quarter was up 3.3% compared to the same quarter last year. As a group, research analysts predict that Norfolk Southern Co. will post 11.82 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date was Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is 50.70%.

Analyst Ratings Changes

Several equities research analysts have issued reports on NSC shares. Loop Capital increased their price target on Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein boosted their price objective on shares of Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Royal Bank of Canada raised their target price on shares of Norfolk Southern from $272.00 to $282.00 and gave the company an “outperform” rating in a research report on Wednesday, October 23rd. Susquehanna boosted their price target on shares of Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Finally, TD Cowen increased their price objective on shares of Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. Based on data from MarketBeat.com, Norfolk Southern presently has an average rating of “Moderate Buy” and an average price target of $275.68.

Insider Transactions at Norfolk Southern

In other news, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $255.98, for a total value of $13,138,173.50. Following the completion of the sale, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at $8,970,819.10. This trade represents a 59.42 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sameh Fahmy purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were purchased at an average cost of $255.00 per share, with a total value of $255,000.00. Following the completion of the purchase, the director now owns 10,000 shares in the company, valued at $2,550,000. This trade represents a 11.11 % increase in their position. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

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.