Norfolk Southern Corporation $NSC Shares Sold by New Hampshire Trust

New Hampshire Trust lowered its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 8.4% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,941 shares of the railroad operator’s stock after selling 363 shares during the quarter. New Hampshire Trust’s holdings in Norfolk Southern were worth $1,009,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of NSC. WPG Advisers LLC acquired a new position in shares of Norfolk Southern during the first quarter valued at about $27,000. Physician Wealth Advisors Inc. grew its holdings in shares of Norfolk Southern by 129.2% during the first quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator’s stock valued at $35,000 after buying an additional 84 shares during the last quarter. Financial Gravity Asset Management Inc. purchased a new stake in shares of Norfolk Southern during the first quarter valued at $41,000. Golden State Wealth Management LLC grew its holdings in shares of Norfolk Southern by 883.3% during the first quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator’s stock valued at $42,000 after buying an additional 159 shares during the last quarter. Finally, Pinnacle Bancorp Inc. grew its holdings in shares of Norfolk Southern by 30.5% during the second quarter. Pinnacle Bancorp Inc. now owns 184 shares of the railroad operator’s stock valued at $47,000 after buying an additional 43 shares during the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Benchmark downgraded Norfolk Southern from a “buy” rating to a “hold” rating in a report on Wednesday, July 30th. Citigroup decreased their target price on Norfolk Southern from $316.00 to $307.00 and set a “neutral” rating for the company in a report on Friday. Deutsche Bank Aktiengesellschaft lifted their target price on Norfolk Southern from $290.00 to $354.00 and gave the stock a “buy” rating in a report on Wednesday, October 1st. TD Cowen decreased their target price on shares of Norfolk Southern from $320.00 to $314.00 and set a “buy” rating for the company in a research report on Friday. Finally, BMO Capital Markets boosted their target price on shares of Norfolk Southern from $285.00 to $305.00 and gave the company a “market perform” rating in a research report on Friday. Seven investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $299.70.

Norfolk Southern Stock Performance

Shares of NYSE NSC opened at $280.29 on Friday. The company’s fifty day moving average price is $285.78 and its 200 day moving average price is $262.58. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $302.24. The company has a market capitalization of $62.96 billion, a PE ratio of 21.38, a price-to-earnings-growth ratio of 2.52 and a beta of 1.33. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.71 and a current ratio of 0.79.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). Norfolk Southern had a return on equity of 19.13% and a net margin of 24.22%.The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.11 billion. During the same period last year, the company posted $3.25 earnings per share. The business’s quarterly revenue was up .0% on a year-over-year basis. On average, research analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, November 20th. Investors of record on Friday, November 7th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Friday, November 7th. This represents a $5.40 dividend on an annualized basis and a yield of 1.9%. Norfolk Southern’s dividend payout ratio is presently 36.49%.

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.