Public Sector Pension Investment Board Raises Holdings in Norfolk Southern Corporation (NYSE:NSC)

Key Points

• The Public Sector Pension Investment Board increased its holdings in Norfolk Southern Corporation by 8.7%, acquiring an additional 2,467 shares, bringing its total to 30,824 shares valued at approximately $7.3 million.
• Recent earnings results show Norfolk Southern reported $3.29 EPS, exceeding analysts' expectations of $3.24, with revenue of $3.11 billion, slightly above estimates.
• The company announced a quarterly dividend of $1.35 per share, reflecting an annualized yield of 1.9% and a payout ratio of 36.49%.

Public Sector Pension Investment Board lifted its holdings in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 8.7% during the 1st quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 30,824 shares of the railroad operator's stock after buying an additional 2,467 shares during the quarter. Public Sector Pension Investment Board's holdings in Norfolk Southern were worth $7,301,000 at the end of the most recent quarter.

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

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on the company. Baird R W raised Norfolk Southern to a "hold" rating in a research report on Tuesday, July 1st. Robert W. Baird lifted their price target on Norfolk Southern from $255.00 to $300.00 and gave the stock a "neutral" rating in a research report on Tuesday, July 22nd. Benchmark cut Norfolk Southern from a "buy" rating to a "hold" rating in a research report on Wednesday, July 30th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $278.00 price target on shares of Norfolk Southern in a research report on Monday, June 2nd. Finally, Royal Bank Of Canada cut Norfolk Southern from a "moderate buy" rating to a "hold" rating in a research report on Tuesday, July 29th. Fourteen analysts have rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, Norfolk Southern currently has a consensus rating of "Hold" and a consensus price target of $285.15.

Norfolk Southern Price Performance

Shares of Norfolk Southern stock traded down $1.64 during mid-day trading on Friday, reaching $280.86. 1,939,854 shares of the stock traded hands, compared to its average volume of 3,210,820. The business has a 50-day moving average of $266.84 and a 200 day moving average of $246.68. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $288.11. The stock has a market capitalization of $63.09 billion, a PE ratio of 18.98, a PEG ratio of 2.49 and a beta of 1.31. The company has a quick ratio of 0.71, a current ratio of 0.79 and a debt-to-equity ratio of 1.11.

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

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Friday, August 1st will be given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.9%. The ex-dividend date is Friday, August 1st. Norfolk Southern's dividend payout ratio is presently 36.49%.

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.