Harbour Investment Management LLC Decreases Holdings in Norfolk Southern Corporation $NSC

Harbour Investment Management LLC trimmed its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 68.0% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 2,697 shares of the railroad operator’s stock after selling 5,739 shares during the period. Harbour Investment Management LLC’s holdings in Norfolk Southern were worth $774,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Gilbert & Cook Inc. grew its position in Norfolk Southern by 1.4% during the fourth quarter. Gilbert & Cook Inc. now owns 2,515 shares of the railroad operator’s stock valued at $726,000 after buying an additional 35 shares during the period. Moss Adams Wealth Advisors LLC lifted its holdings in Norfolk Southern by 4.6% during the fourth quarter. Moss Adams Wealth Advisors LLC now owns 791 shares of the railroad operator’s stock valued at $228,000 after purchasing an additional 35 shares during the last quarter. Confluence Wealth Services Inc. boosted its holdings in Norfolk Southern by 1.1% in the 4th quarter. Confluence Wealth Services Inc. now owns 3,090 shares of the railroad operator’s stock worth $892,000 after buying an additional 35 shares during the period. Exencial Wealth Advisors LLC lifted its position in shares of Norfolk Southern by 1.1% during the fourth quarter. Exencial Wealth Advisors LLC now owns 3,216 shares of the railroad operator’s stock worth $929,000 after acquiring an additional 35 shares in the last quarter. Finally, Sovereign Financial Group Inc. boosted its holdings in shares of Norfolk Southern by 3.3% in the first quarter. Sovereign Financial Group Inc. now owns 1,108 shares of the railroad operator’s stock worth $318,000 after acquiring an additional 35 shares during the period. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Trading Down 0.6%

Shares of NSC stock opened at $314.68 on Wednesday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91. Norfolk Southern Corporation has a 52-week low of $255.41 and a 52-week high of $326.00. The company has a market capitalization of $70.67 billion, a PE ratio of 26.51, a price-to-earnings-growth ratio of 5.84 and a beta of 1.27. The business’s fifty day moving average is $311.31 and its 200 day moving average is $301.49.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, topping the consensus estimate of $2.49 by $0.16. The business had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The firm’s revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business earned $2.69 earnings per share. On average, equities research analysts anticipate that Norfolk Southern Corporation will post 12.12 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. The ex-dividend date was Friday, May 8th. Norfolk Southern’s dividend payout ratio (DPR) is 45.49%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently weighed in on the company. Sanford C. Bernstein reduced their price target on Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating for the company in a research report on Tuesday, March 31st. Rothschild & Co Redburn increased their price objective on Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a report on Wednesday, April 29th. Jefferies Financial Group cut their target price on Norfolk Southern from $350.00 to $310.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Weiss Ratings lowered Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, April 27th. Finally, Wolfe Research upped their price target on Norfolk Southern from $350.00 to $355.00 and gave the company an “outperform” rating in a research report on Tuesday, April 7th. Six research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $320.35.

Norfolk Southern Company Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.