Saybrook Capital NC Lowers Position in Norfolk Southern Corporation $NSC

Saybrook Capital NC cut its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 35,798 shares of the railroad operator’s stock after selling 964 shares during the period. Norfolk Southern comprises about 2.6% of Saybrook Capital NC’s investment portfolio, making the stock its 13th biggest position. Saybrook Capital NC’s holdings in Norfolk Southern were worth $9,163,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently bought and sold shares of the company. WPG Advisers LLC purchased a new position in Norfolk Southern during the first quarter valued at $27,000. Physician Wealth Advisors Inc. lifted its position in 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 purchasing an additional 84 shares in the last quarter. Financial Gravity Asset Management Inc. purchased a new position in Norfolk Southern during the first quarter valued at $41,000. Golden State Wealth Management LLC lifted its position in 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 purchasing an additional 159 shares in the last quarter. Finally, Pinnacle Bancorp Inc. lifted its position in 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 purchasing an additional 43 shares in the last quarter. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Price Performance

NYSE:NSC opened at $280.29 on Friday. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.11. The company has a market capitalization of $62.96 billion, a P/E ratio of 21.38, a P/E/G ratio of 2.52 and a beta of 1.33. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $302.24. The business’s 50-day moving average is $285.78 and its 200 day moving average is $262.58.

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

Norfolk Southern Dividend Announcement

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

Analyst Ratings Changes

NSC has been the topic of several research analyst reports. Baird R W upgraded Norfolk Southern to a “hold” rating in a research report on Tuesday, July 1st. UBS Group lowered their price objective on Norfolk Southern from $321.00 to $320.00 and set a “buy” rating on the stock in a research report on Friday. Deutsche Bank Aktiengesellschaft boosted their price objective on Norfolk Southern from $290.00 to $354.00 and gave the company a “buy” rating in a research report on Wednesday, October 1st. Susquehanna boosted their price objective on Norfolk Southern from $284.00 to $295.00 and gave the company a “neutral” rating in a research report on Thursday, September 25th. Finally, Evercore ISI boosted their price objective on Norfolk Southern from $289.00 to $298.00 in a research report on Thursday, September 25th. Seven research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $299.70.

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.