Public Sector Pension Investment Board Increases Stake in Norfolk Southern Co. (NYSE:NSC)

Public Sector Pension Investment Board boosted its stake in Norfolk Southern Co. (NYSE:NSC) by 25.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 18,307 shares of the railroad operator’s stock after purchasing an additional 3,676 shares during the period. Public Sector Pension Investment Board’s holdings in Norfolk Southern were worth $3,930,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the stock. Raleigh Capital Management Inc. increased its stake in Norfolk Southern by 4.4% in the 4th quarter. Raleigh Capital Management Inc. now owns 956 shares of the railroad operator’s stock worth $226,000 after purchasing an additional 40 shares during the period. Hall Capital Management Co. Inc. increased its stake in shares of Norfolk Southern by 2.8% during the second quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator’s stock valued at $325,000 after buying an additional 42 shares during the period. Blue Chip Partners LLC increased its stake in shares of Norfolk Southern by 0.5% during 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 increased its stake in shares of Norfolk Southern by 12.4% during the second quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock valued at $82,000 after buying an additional 42 shares during the period. Finally, Indiana Trust & Investment Management CO increased its stake in shares of Norfolk Southern by 3.0% during the first quarter. Indiana Trust & Investment Management CO now owns 1,477 shares of the railroad operator’s stock valued at $376,000 after buying an additional 43 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Norfolk Southern

In related news, Director Richard H. Anderson bought 2,000 shares of the business’s stock in a transaction on Monday, July 29th. The stock was acquired at an average price of $247.48 per share, with a total value of $494,960.00. Following the transaction, the director now owns 3,000 shares in the company, valued at approximately $742,440. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Richard H. Anderson acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The stock was bought at an average price of $247.48 per share, with a total value of $494,960.00. Following the completion of the acquisition, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $742,440. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, EVP Nabanita C. Nag sold 355 shares of the stock in a transaction dated Monday, July 29th. The shares were sold at an average price of $249.38, for a total value of $88,529.90. Following the completion of the transaction, the executive vice president now directly owns 1,488 shares in the company, valued at approximately $371,077.44. The disclosure for this sale can be found here. 0.19% of the stock is owned by insiders.

Analysts Set New Price Targets

NSC has been the topic of several research analyst reports. TD Cowen boosted their target price on Norfolk Southern from $251.00 to $253.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Benchmark boosted their target price on Norfolk Southern from $266.00 to $270.00 and gave the company a “buy” rating in a research note on Monday, July 29th. Royal Bank of Canada reduced their target price on Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating on the stock in a research note on Friday, July 26th. Stifel Nicolaus lifted their price target on Norfolk Southern from $239.00 to $241.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Finally, Evercore ISI lifted their price target on Norfolk Southern from $265.00 to $276.00 and gave the company an “outperform” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $264.89.

Norfolk Southern Trading Up 0.9 %

Norfolk Southern stock opened at $246.49 on Friday. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30. The business’s fifty day simple moving average is $244.95 and its two-hundred day simple moving average is $237.59. Norfolk Southern Co. has a 12 month low of $183.09 and a 12 month high of $263.66. The company has a market capitalization of $55.69 billion, a price-to-earnings ratio of 39.69, a price-to-earnings-growth ratio of 2.40 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 EPS for the quarter, beating the consensus estimate of $2.86 by $0.20. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same period last year, the firm posted $2.95 earnings per share. Norfolk Southern’s revenue was up 2.1% compared to the same quarter last year. As a group, equities analysts predict that Norfolk Southern Co. will post 11.8 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, August 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.19%. Norfolk Southern’s payout ratio is 86.96%.

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.