Harbour Investment Management LLC Has $3.35 Million Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Harbour Investment Management LLC reduced its holdings in Norfolk Southern Co. (NYSE:NSC) by 0.7% in the 3rd quarter, according to the company in its most recent filing with the SEC. The firm owned 13,486 shares of the railroad operator’s stock after selling 100 shares during the quarter. Norfolk Southern makes up about 1.5% of Harbour Investment Management LLC’s portfolio, making the stock its 16th largest holding. Harbour Investment Management LLC’s holdings in Norfolk Southern were worth $3,351,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Highline Wealth Partners LLC acquired a new stake in Norfolk Southern during the 3rd quarter valued at approximately $25,000. Cedar Wealth Management LLC acquired a new stake in shares of Norfolk Southern during the first quarter worth $27,000. 1620 Investment Advisors Inc. bought a new position in Norfolk Southern during the second quarter worth $27,000. Financial Connections Group Inc. acquired a new position in Norfolk Southern in the second quarter valued at $31,000. Finally, HWG Holdings LP bought a new stake in Norfolk Southern during the second quarter valued at $31,000. Institutional investors own 75.10% of the company’s stock.

Analyst Ratings Changes

NSC has been the subject of a number of research analyst reports. Morgan Stanley reiterated an “underweight” rating and issued a $175.00 target price on shares of Norfolk Southern in a report on Monday, July 8th. Stifel Nicolaus boosted their target price on shares of Norfolk Southern from $241.00 to $245.00 and gave the company a “hold” rating in a research report on Friday, October 11th. Evercore ISI reduced their price target on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a report on Wednesday, October 23rd. Barclays upped their price objective on shares of Norfolk Southern from $275.00 to $290.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Finally, Loop Capital raised their target price on Norfolk Southern from $285.00 to $287.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average target price of $274.16.

Insider Buying and Selling

In other news, Director Sameh Fahmy acquired 1,000 shares of Norfolk Southern stock in a transaction on Thursday, October 24th. The stock was acquired at an average cost of $255.00 per share, with a total value of $255,000.00. Following the completion of the acquisition, the director now owns 10,000 shares in the company, valued at approximately $2,550,000. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other Norfolk Southern news, Director Sameh Fahmy acquired 1,000 shares of the company’s stock in a transaction on Thursday, October 24th. The shares were acquired at an average cost of $255.00 per share, with a total value of $255,000.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at $2,550,000. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the transaction, the chief executive officer now owns 35,045 shares of the company’s stock, valued at $8,970,819.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Norfolk Southern Stock Performance

Shares of NYSE NSC traded up $1.00 during midday trading on Friday, reaching $250.09. The company’s stock had a trading volume of 749,777 shares, compared to its average volume of 1,174,827. The stock has a market capitalization of $56.58 billion, a P/E ratio of 23.48, a PEG ratio of 2.38 and a beta of 1.30. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. The firm has a 50 day moving average price of $250.38 and a 200-day moving average price of $237.06. Norfolk Southern Co. has a 12-month low of $190.01 and a 12-month high of $263.66.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, topping the consensus estimate of $3.11 by $0.14. The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $2.65 earnings per share. As a group, equities analysts predict that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be paid a dividend of $1.35 per share. The ex-dividend date is Friday, November 1st. This represents a $5.40 annualized dividend and a dividend yield of 2.16%. Norfolk Southern’s payout ratio is currently 50.70%.

Norfolk Southern 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.