Harbour Investment Management LLC Sells 5,739 Shares of Norfolk Southern Corporation $NSC

Harbour Investment Management LLC lessened its position in Norfolk Southern Corporation (NYSE:NSC) by 68.0% in the first quarter, according to its most recent disclosure with the 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 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. JPL Wealth Management LLC bought a new position in shares of Norfolk Southern in the 3rd quarter worth $25,000. BNP Paribas bought a new stake in Norfolk Southern during the 2nd quarter valued at $26,000. GoalVest Advisory LLC raised its holdings in Norfolk Southern by 933.3% during the fourth quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock worth $27,000 after buying an additional 84 shares during the last quarter. Meeder Asset Management Inc. raised its holdings in Norfolk Southern by 239.3% during the fourth quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock worth $27,000 after buying an additional 67 shares during the last quarter. Finally, FNY Investment Advisers LLC lifted its stake in shares of Norfolk Southern by 669.2% in the third quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator’s stock valued at $30,000 after buying an additional 87 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

Analysts Set New Price Targets

A number of research analysts have recently issued reports on the stock. Susquehanna lifted their price objective on shares of Norfolk Southern from $330.00 to $337.00 and gave the company a “neutral” rating in a report on Friday, June 5th. Evercore set a $325.00 price target on shares of Norfolk Southern in a research report on Friday, April 24th. TD Cowen lifted their price target on Norfolk Southern from $313.00 to $337.00 and gave the company a “buy” rating in a research note on Monday, April 27th. JPMorgan Chase & Co. cut their price target on Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating for the company in a research note on Tuesday, April 7th. Finally, BMO Capital Markets boosted their price objective on Norfolk Southern from $305.00 to $310.00 and gave the stock a “market perform” rating in a report on Monday, April 27th. Six research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $320.35.

Norfolk Southern Stock Performance

NYSE NSC opened at $314.68 on Wednesday. Norfolk Southern Corporation has a 1 year low of $255.41 and a 1 year high of $326.00. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. The firm has a market cap of $70.67 billion, a price-to-earnings ratio of 26.51, a PEG ratio of 5.84 and a beta of 1.27. The company has a fifty day moving average price of $311.31 and a 200-day moving average price of $301.49.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the firm earned $2.69 earnings per share. The firm’s revenue was up .2% on a year-over-year basis. As a group, equities research analysts predict that Norfolk Southern Corporation will post 12.12 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

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

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.