Harbour Investment Management LLC Sells 787 Shares of Norfolk Southern Co. (NYSE:NSC)

Harbour Investment Management LLC decreased its holdings in Norfolk Southern Co. (NYSE:NSC) by 5.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 12,699 shares of the railroad operator’s stock after selling 787 shares during the period. Norfolk Southern accounts for approximately 1.3% of Harbour Investment Management LLC’s investment portfolio, making the stock its 21st biggest holding. Harbour Investment Management LLC’s holdings in Norfolk Southern were worth $2,980,000 as of its most recent SEC filing.

Several other institutional investors also recently modified their holdings of the business. State Street Corp boosted its position in Norfolk Southern by 2.1% during the third quarter. State Street Corp now owns 9,330,849 shares of the railroad operator’s stock valued at $2,318,716,000 after acquiring an additional 196,249 shares during the last quarter. Geode Capital Management LLC raised its holdings in shares of Norfolk Southern by 1.4% in the 3rd quarter. Geode Capital Management LLC now owns 4,580,925 shares of the railroad operator’s stock worth $1,133,828,000 after acquiring an additional 62,186 shares during the last quarter. EdgePoint Investment Group Inc. raised its holdings in shares of Norfolk Southern by 2.7% in the 3rd quarter. EdgePoint Investment Group Inc. now owns 3,892,717 shares of the railroad operator’s stock worth $967,340,000 after acquiring an additional 103,281 shares during the last quarter. Mizuho Securities USA LLC raised its holdings in shares of Norfolk Southern by 18,831.2% in the 3rd quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock worth $819,553,000 after acquiring an additional 3,280,579 shares during the last quarter. Finally, FMR LLC raised its holdings in shares of Norfolk Southern by 48.4% in the 3rd quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock worth $671,532,000 after acquiring an additional 881,415 shares during the last quarter. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NYSE NSC opened at $232.75 on Friday. The firm has a 50 day moving average of $246.30 and a 200 day moving average of $250.51. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. The firm has a market capitalization of $52.70 billion, a price-to-earnings ratio of 20.13, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. On average, research analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date of this dividend was Friday, February 7th. Norfolk Southern’s payout ratio is 46.71%.

Insider Activity at Norfolk Southern

In other news, Director Gilbert H. Lamphere bought 607 shares of Norfolk Southern stock in a transaction dated Friday, January 31st. The shares were acquired at an average price of $259.86 per share, with a total value of $157,735.02. Following the completion of the purchase, the director now owns 2,487 shares in the company, valued at $646,271.82. The trade was a 32.29 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this hyperlink. 0.19% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

NSC has been the subject of a number of recent analyst reports. Deutsche Bank Aktiengesellschaft initiated coverage on shares of Norfolk Southern in a research report on Friday, March 7th. They issued a “buy” rating and a $293.00 price objective for the company. Wells Fargo & Company reduced their price objective on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Susquehanna reduced their price objective on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating for the company in a research report on Wednesday, January 8th. JPMorgan Chase & Co. upped their price objective on shares of Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a research report on Thursday, January 30th. Finally, Royal Bank of Canada increased their target price on shares of Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $276.95.

Norfolk Southern Company Profile

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.