Daymark Wealth Partners LLC Sells 80 Shares of Norfolk Southern Corporation $NSC

Daymark Wealth Partners LLC cut its position in shares of Norfolk Southern Corporation (NYSE:NSC) by 0.8% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 9,457 shares of the railroad operator’s stock after selling 80 shares during the quarter. Daymark Wealth Partners LLC’s holdings in Norfolk Southern were worth $2,421,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. Golden State Wealth Management LLC raised its position in shares of Norfolk Southern by 883.3% in the first quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator’s stock valued at $42,000 after purchasing an additional 159 shares during the period. Morningstar Investment Management LLC bought a new position in shares of Norfolk Southern in the 2nd quarter worth $597,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its holdings in shares of Norfolk Southern by 682.1% in the 2nd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 56,012 shares of the railroad operator’s stock worth $14,337,000 after buying an additional 48,850 shares during the last quarter. GC Wealth Management RIA LLC boosted its position in Norfolk Southern by 52.5% during the 2nd quarter. GC Wealth Management RIA LLC now owns 4,441 shares of the railroad operator’s stock valued at $1,137,000 after buying an additional 1,528 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its position in Norfolk Southern by 4.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 76,057 shares of the railroad operator’s stock valued at $19,468,000 after buying an additional 3,367 shares during the period. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

NSC stock opened at $279.42 on Thursday. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $302.24. The company’s fifty day moving average price is $285.60 and its 200-day moving average price is $264.17. The company has a debt-to-equity ratio of 1.09, a quick ratio of 0.78 and a current ratio of 0.86. The company has a market capitalization of $62.70 billion, a PE ratio of 21.31, a price-to-earnings-growth ratio of 2.52 and a beta of 1.33.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share for the quarter, missing the consensus estimate of $3.31 by ($0.01). Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The business had revenue of $3.10 billion during the quarter, compared to the consensus estimate of $3.11 billion. During the same quarter in the prior year, the firm posted $3.25 EPS. The company’s revenue for the quarter was up .0% on a year-over-year basis. On average, equities analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Shareholders of record on Friday, November 7th will be given a dividend of $1.35 per share. The ex-dividend date is Friday, November 7th. This represents a $5.40 dividend on an annualized basis and a yield of 1.9%. Norfolk Southern’s payout ratio is 41.19%.

Analysts Set New Price Targets

Several equities research analysts have weighed in on NSC shares. Barclays increased their price target on shares of Norfolk Southern from $300.00 to $320.00 and gave the company an “overweight” rating in a research report on Thursday, October 2nd. Weiss Ratings lowered shares of Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Saturday, October 25th. UBS Group reduced their price objective on shares of Norfolk Southern from $321.00 to $320.00 and set a “buy” rating for the company in a research note on Friday, October 24th. Evercore ISI raised their price objective on shares of Norfolk Southern from $289.00 to $298.00 in a research note on Thursday, September 25th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of Norfolk Southern from $290.00 to $354.00 and gave the company a “buy” rating in a report on Wednesday, October 1st. Seven equities research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to MarketBeat.com, Norfolk Southern has an average rating of “Hold” and a consensus target price of $299.70.

Insider Activity at Norfolk Southern

In related news, Director Richard H. Anderson purchased 2,600 shares of the business’s stock in a transaction dated Monday, October 27th. The shares were purchased at an average cost of $281.86 per share, for a total transaction of $732,836.00. Following the completion of the acquisition, the director owned 7,000 shares in the company, valued at approximately $1,973,020. This trade represents a 59.09% increase in their position. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 0.06% of the company’s stock.

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.