Marble Harbor Investment Counsel LLC Has $1.68 Million Stock Holdings in Norfolk Southern Corporation $NSC

Marble Harbor Investment Counsel LLC lowered its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 6.4% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 6,572 shares of the railroad operator’s stock after selling 450 shares during the quarter. Marble Harbor Investment Counsel LLC’s holdings in Norfolk Southern were worth $1,682,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the business. WPG Advisers LLC bought a new position in Norfolk Southern during the 1st quarter worth approximately $27,000. True Wealth Design LLC lifted its stake in Norfolk Southern by 423.8% in the 2nd quarter. True Wealth Design LLC now owns 110 shares of the railroad operator’s stock valued at $28,000 after acquiring an additional 89 shares in the last quarter. NewSquare Capital LLC grew its position in Norfolk Southern by 58.5% in the second quarter. NewSquare Capital LLC now owns 130 shares of the railroad operator’s stock valued at $33,000 after purchasing an additional 48 shares in the last quarter. Pinnacle Bancorp Inc. raised its holdings in Norfolk Southern by 30.5% during the second quarter. Pinnacle Bancorp Inc. now owns 184 shares of the railroad operator’s stock worth $47,000 after acquiring an additional 43 shares in the last quarter. Finally, Chung Wu Investment Group LLC acquired a new position in Norfolk Southern during the second quarter worth $51,000. 75.10% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have recently weighed in on NSC. Citigroup dropped their price objective on shares of Norfolk Southern from $316.00 to $307.00 and set a “neutral” rating on the stock in a research report on Friday, October 24th. JPMorgan Chase & Co. increased their price target on shares of Norfolk Southern from $288.00 to $303.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 8th. BMO Capital Markets lifted their price target on shares of Norfolk Southern from $285.00 to $305.00 and gave the company a “market perform” rating in a report on Friday, October 24th. Bank of America raised their price objective on shares of Norfolk Southern from $290.00 to $305.00 and gave the company a “buy” rating in a report on Thursday, July 17th. Finally, Evercore ISI lifted their price objective on Norfolk Southern from $289.00 to $298.00 in a research note on Thursday, September 25th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $299.70.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $287.49 on Wednesday. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.78. The firm has a market capitalization of $64.51 billion, a P/E ratio of 21.93, a PEG ratio of 2.52 and a beta of 1.33. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $302.24. The business has a fifty day moving average price of $286.45 and a 200-day moving average price of $268.50.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share for the quarter, missing the consensus estimate of $3.31 by ($0.01). The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.11 billion. Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. The business’s revenue was up .0% on a year-over-year basis. During the same period in the previous year, the business earned $3.25 EPS. As a group, equities research analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Friday, November 7th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date of this dividend is Friday, November 7th. Norfolk Southern’s payout ratio is presently 41.19%.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, Director Sameh Fahmy acquired 1,650 shares of the company’s stock in a transaction that occurred on Wednesday, November 5th. The shares were bought at an average cost of $282.97 per share, with a total value of $466,900.50. Following the completion of the transaction, the director directly owned 12,000 shares of the company’s stock, valued at approximately $3,395,640. This represents a 15.94% increase in their position. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Director Richard H. Anderson purchased 2,600 shares of the firm’s stock in a transaction on Monday, October 27th. The stock was acquired at an average price of $281.86 per share, for a total transaction of $732,836.00. Following the completion of the transaction, the director directly owned 7,000 shares of the company’s stock, valued at approximately $1,973,020. This trade represents a 59.09% increase in their position. The SEC filing for this purchase provides additional information. Insiders own 0.06% of the company’s stock.

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.