Pacer Advisors Inc. Has $2.86 Million Stake in Norfolk Southern Corporation (NYSE:NSC)

Key Points

• Pacer Advisors Inc. has reduced its stake in Norfolk Southern Corporation by 35.4%, selling 6,617 shares, resulting in a total holding of 12,057 shares worth approximately $2.86 million.
• Several institutional investors have increased their positions, with Assetmark Inc. boosting its holdings by 119.1%, now owning 7,033 shares valued at $1.67 million.
• Analyst reports indicate that Citigroup downgraded Norfolk Southern from a "buy" to a "neutral" rating while adjusting the price target upwards, reflecting mixed sentiments among analysts with a current average target price of $282.50.

Pacer Advisors Inc. reduced its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 35.4% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 12,057 shares of the railroad operator's stock after selling 6,617 shares during the period. Pacer Advisors Inc.'s holdings in Norfolk Southern were worth $2,856,000 at the end of the most recent quarter.

Several other hedge funds also recently bought and sold shares of NSC. Fourth Dimension Wealth LLC acquired a new position in Norfolk Southern in the 4th quarter worth about $28,000. Putney Financial Group LLC acquired a new position in shares of Norfolk Southern during the 4th quarter valued at about $30,000. Greenline Partners LLC acquired a new position in shares of Norfolk Southern during the 4th quarter valued at about $31,000. HWG Holdings LP acquired a new position in shares of Norfolk Southern during the 1st quarter valued at about $35,000. Finally, Physician Wealth Advisors Inc. increased its holdings in shares of Norfolk Southern by 129.2% during the 1st quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock valued at $35,000 after acquiring an additional 84 shares during the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Stock Performance

Shares of NSC stock traded down $3.43 during mid-day trading on Friday, reaching $274.57. The stock had a trading volume of 2,727,424 shares, compared to its average volume of 2,852,299. The firm's 50 day simple moving average is $259.28 and its 200 day simple moving average is $244.45. The company has a quick ratio of 0.70, a current ratio of 0.79 and a debt-to-equity ratio of 1.11. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $288.11. The firm has a market cap of $61.67 billion, a PE ratio of 18.55, a P/E/G ratio of 2.46 and a beta of 1.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings data on Tuesday, July 29th. The railroad operator reported $3.29 EPS for the quarter, topping analysts' consensus estimates of $3.24 by $0.05. The company had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.10 billion. Norfolk Southern had a return on equity of 19.35% and a net margin of 27.51%. On average, analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Friday, August 1st will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.0%. The ex-dividend date is Friday, August 1st. Norfolk Southern's dividend payout ratio (DPR) is 36.49%.

Analyst Upgrades and Downgrades

A number of brokerages have recently commented on NSC. Robert W. Baird increased their price objective on Norfolk Southern from $255.00 to $300.00 and gave the company a "neutral" rating in a report on Tuesday, July 22nd. JPMorgan Chase & Co. reissued a "neutral" rating and set a $288.00 price objective (up previously from $282.00) on shares of Norfolk Southern in a report on Wednesday. Royal Bank Of Canada lowered Norfolk Southern from a "moderate buy" rating to a "hold" rating in a report on Tuesday. Sanford C. Bernstein increased their price objective on Norfolk Southern from $295.00 to $305.00 and gave the company an "outperform" rating in a report on Monday, July 21st. Finally, The Goldman Sachs Group restated a "neutral" rating and set a $278.00 target price on shares of Norfolk Southern in a research note on Monday, June 2nd. Fourteen equities research analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, Norfolk Southern presently has an average rating of "Hold" and an average price target of $285.15.

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.