Norfolk Southern Co. (NYSE:NSC) Shares Bought by Public Sector Pension Investment Board

Public Sector Pension Investment Board increased its position in shares of Norfolk Southern Co. (NYSE:NSC) by 1,840.0% during the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 355,152 shares of the railroad operator’s stock after buying an additional 336,845 shares during the period. Public Sector Pension Investment Board’s holdings in Norfolk Southern were worth $88,255,000 as of its most recent filing with the SEC.

A number of other hedge funds also recently bought and sold shares of NSC. Mizuho Securities USA LLC boosted its position in shares of Norfolk Southern by 18,831.2% during the 3rd quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock valued at $819,553,000 after acquiring an additional 3,280,579 shares during the last quarter. Boston Partners boosted its position in shares of Norfolk Southern by 157.1% during the first quarter. Boston Partners now owns 2,890,665 shares of the railroad operator’s stock worth $735,749,000 after buying an additional 1,766,135 shares during the period. Pathway Financial Advisers LLC boosted its holdings in Norfolk Southern by 25,181.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after acquiring an additional 889,925 shares during the period. FMR LLC grew its holdings in shares of Norfolk Southern by 48.4% in the third quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock valued at $671,532,000 after purchasing an additional 881,415 shares in the last quarter. Finally, American Century Companies Inc. increased its position in shares of Norfolk Southern by 17.3% during the second quarter. American Century Companies Inc. now owns 3,356,590 shares of the railroad operator’s stock worth $720,626,000 after acquiring an additional 496,088 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $275.38 on Thursday. The firm has a market capitalization of $62.30 billion, a PE ratio of 25.86, a PEG ratio of 2.62 and a beta of 1.30. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The business’s 50 day moving average is $255.60 and its 200-day moving average is $240.87. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping the consensus estimate of $3.11 by $0.14. The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. Norfolk Southern’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the company earned $2.65 EPS. Sell-side analysts predict that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Announces Dividend

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

Analyst Upgrades and Downgrades

A number of equities research analysts have commented on NSC shares. Sanford C. Bernstein increased their price objective on shares of Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a research report on Wednesday, October 9th. Evercore ISI cut their target price on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a report on Wednesday, October 23rd. Susquehanna increased their price objective on Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 23rd. Benchmark lifted their target price on shares of Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Finally, UBS Group upped their price objective on Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Norfolk Southern presently has an average rating of “Moderate Buy” and a consensus target price of $275.68.

Insider Transactions at Norfolk Southern

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

About Norfolk Southern

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.