Longfellow Investment Management Co. LLC Reduces Holdings in Norfolk Southern Corporation $NSC

Longfellow Investment Management Co. LLC decreased its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 51.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,120 shares of the railroad operator’s stock after selling 3,333 shares during the period. Longfellow Investment Management Co. LLC’s holdings in Norfolk Southern were worth $937,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of the stock. Tritonpoint Wealth LLC boosted its position in Norfolk Southern by 3.5% during the 3rd quarter. Tritonpoint Wealth LLC now owns 1,041 shares of the railroad operator’s stock valued at $313,000 after acquiring an additional 35 shares in the last quarter. Massachusetts Wealth Management lifted its stake in shares of Norfolk Southern by 0.6% in the 3rd quarter. Massachusetts Wealth Management now owns 5,986 shares of the railroad operator’s stock valued at $1,798,000 after purchasing an additional 35 shares during the period. ORG Partners LLC boosted its position in shares of Norfolk Southern by 75.0% during the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock valued at $25,000 after purchasing an additional 36 shares in the last quarter. Horan Securities Inc. grew its stake in Norfolk Southern by 2.1% in the second quarter. Horan Securities Inc. now owns 1,764 shares of the railroad operator’s stock worth $452,000 after purchasing an additional 37 shares during the period. Finally, Inspirion Wealth Advisors LLC raised its holdings in Norfolk Southern by 1.9% in the third quarter. Inspirion Wealth Advisors LLC now owns 2,008 shares of the railroad operator’s stock worth $603,000 after purchasing an additional 37 shares in the last quarter. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Trading Down 2.0%

NYSE:NSC opened at $311.57 on Friday. The stock has a market cap of $69.97 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 5.74 and a beta of 1.31. The company has a quick ratio of 0.78, a current ratio of 0.85 and a debt-to-equity ratio of 1.06. The company’s 50 day moving average price is $299.85 and its 200-day moving average price is $291.39. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $319.94.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.46. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $3.03 billion. During the same period in the previous year, the business earned $3.04 EPS. The firm’s revenue for the quarter was down 1.7% on a year-over-year basis. On average, equities research analysts forecast that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 6th were issued 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 of this dividend was Friday, February 6th. Norfolk Southern’s dividend payout ratio is presently 42.35%.

Analyst Ratings Changes

NSC has been the topic of a number of research reports. Morgan Stanley upgraded shares of Norfolk Southern from an “equal weight” rating to a “buy” rating in a report on Thursday, December 18th. Zacks Research raised shares of Norfolk Southern from a “strong sell” rating to a “hold” rating in a research note on Wednesday. Susquehanna raised their target price on shares of Norfolk Southern from $304.00 to $305.00 and gave the company a “neutral” rating in a research note on Friday, January 30th. UBS Group lowered shares of Norfolk Southern from a “buy” rating to a “neutral” rating and set a $342.00 target price for the company. in a report on Friday, February 6th. Finally, Benchmark restated a “hold” rating on shares of Norfolk Southern in a research note on Friday, January 30th. Seven equities research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $304.47.

Norfolk Southern 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.