Flagship Harbor Advisors LLC Lowers Stake in Norfolk Southern Corp. (NSC)

Flagship Harbor Advisors LLC lowered its holdings in Norfolk Southern Corp. (NYSE:NSC) by 4.2% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,979 shares of the railroad operator’s stock after selling 87 shares during the period. Flagship Harbor Advisors LLC’s holdings in Norfolk Southern were worth $296,000 at the end of the most recent quarter.

A number of other large investors have also recently modified their holdings of NSC. Stony Point Wealth Management Inc. grew its stake in Norfolk Southern by 5.0% in the 4th quarter. Stony Point Wealth Management Inc. now owns 1,589 shares of the railroad operator’s stock worth $238,000 after buying an additional 75 shares in the last quarter. Hudson Valley Investment Advisors Inc. ADV grew its stake in Norfolk Southern by 2.0% in the 4th quarter. Hudson Valley Investment Advisors Inc. ADV now owns 3,825 shares of the railroad operator’s stock worth $572,000 after buying an additional 75 shares in the last quarter. BKD Wealth Advisors LLC grew its stake in Norfolk Southern by 1.8% in the 4th quarter. BKD Wealth Advisors LLC now owns 4,427 shares of the railroad operator’s stock worth $662,000 after buying an additional 77 shares in the last quarter. Rehmann Capital Advisory Group grew its stake in Norfolk Southern by 3.3% in the 3rd quarter. Rehmann Capital Advisory Group now owns 2,627 shares of the railroad operator’s stock worth $474,000 after buying an additional 83 shares in the last quarter. Finally, Legacy Financial Advisors Inc. grew its stake in Norfolk Southern by 31.3% in the 4th quarter. Legacy Financial Advisors Inc. now owns 415 shares of the railroad operator’s stock worth $62,000 after buying an additional 99 shares in the last quarter. 72.89% of the stock is owned by institutional investors.

In other news, COO Michael Joseph Wheeler sold 801 shares of the company’s stock in a transaction dated Wednesday, November 7th. The shares were sold at an average price of $172.55, for a total value of $138,212.55. Following the sale, the chief operating officer now directly owns 9,406 shares of the company’s stock, valued at approximately $1,623,005.30. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. 0.23% of the stock is owned by corporate insiders.

NSC has been the subject of a number of research reports. TD Securities raised shares of Norfolk Southern from a “hold” rating to a “buy” rating in a research note on Thursday, October 25th. They noted that the move was a valuation call. Stifel Nicolaus raised shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $189.00 price target for the company in a research note on Wednesday, October 24th. Loop Capital raised shares of Norfolk Southern from a “hold” rating to a “buy” rating and boosted their price target for the stock from $179.00 to $190.00 in a research note on Wednesday, October 24th. Zacks Investment Research raised shares of Norfolk Southern from a “hold” rating to a “buy” rating and set a $205.00 price target for the company in a research note on Monday, October 8th. Finally, Argus reissued a “buy” rating on shares of Norfolk Southern in a research note on Thursday, January 3rd. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eleven have assigned a buy rating to the company. The company currently has a consensus rating of “Hold” and an average target price of $175.95.

Shares of NYSE NSC opened at $168.38 on Thursday. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.72 and a quick ratio of 0.64. Norfolk Southern Corp. has a 12 month low of $127.79 and a 12 month high of $186.91. The firm has a market capitalization of $45.46 billion, a price-to-earnings ratio of 17.71, a P/E/G ratio of 1.54 and a beta of 1.33.

Norfolk Southern (NYSE:NSC) last released its earnings results on Thursday, January 24th. The railroad operator reported $2.57 earnings per share for the quarter, topping the Zacks’ consensus estimate of $2.30 by $0.27. The firm had revenue of $2.90 billion for the quarter, compared to the consensus estimate of $2.85 billion. Norfolk Southern had a net margin of 23.27% and a return on equity of 16.71%. The company’s revenue was up 8.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.69 EPS. Equities research analysts expect that Norfolk Southern Corp. will post 10.24 EPS for the current year.

The firm also recently announced a quarterly dividend, which will be paid on Monday, March 11th. Stockholders of record on Monday, February 4th will be given a $0.86 dividend. The ex-dividend date of this dividend is Friday, February 1st. This is an increase from Norfolk Southern’s previous quarterly dividend of $0.80. This represents a $3.44 dividend on an annualized basis and a dividend yield of 2.04%. Norfolk Southern’s dividend payout ratio is currently 33.65%.

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Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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