Spinnaker Trust Has $431,000 Stake in Norfolk Southern Corporation $NSC

Spinnaker Trust lessened its holdings in shares of Norfolk Southern Corporation (NYSE:NSC) by 3.2% during the second quarter, HoldingsChannel.com reports. The firm owned 1,685 shares of the railroad operator’s stock after selling 55 shares during the quarter. Spinnaker Trust’s holdings in Norfolk Southern were worth $431,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. WPG Advisers LLC acquired a new stake in Norfolk Southern during the first quarter worth approximately $27,000. Physician Wealth Advisors Inc. lifted its position in shares of Norfolk Southern by 129.2% during the 1st quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator’s stock valued at $35,000 after acquiring an additional 84 shares during the period. Financial Gravity Asset Management Inc. bought a new stake in shares of Norfolk Southern during the 1st quarter valued at $41,000. Golden State Wealth Management LLC grew its holdings in shares of Norfolk Southern by 883.3% during the 1st quarter. Golden State Wealth Management LLC now owns 177 shares of the railroad operator’s stock worth $42,000 after purchasing an additional 159 shares in the last quarter. Finally, Pinnacle Bancorp Inc. increased its position in shares of Norfolk Southern by 30.5% in the second quarter. Pinnacle Bancorp Inc. now owns 184 shares of the railroad operator’s stock worth $47,000 after purchasing an additional 43 shares during the period. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Performance

NYSE NSC opened at $281.69 on Friday. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $302.24. The stock has a market cap of $63.21 billion, a PE ratio of 21.49, a PEG ratio of 2.52 and a beta of 1.33. 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 firm’s fifty day moving average price is $285.55 and its two-hundred day moving average price is $264.29.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data 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). The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.11 billion. Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. The company’s revenue was up .0% compared to the same quarter last year. During the same period last year, the business earned $3.25 EPS. On average, equities analysts expect that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

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

Insider Activity

In other Norfolk Southern news, Director Richard H. Anderson acquired 2,600 shares of the company’s stock in a transaction that occurred on Monday, October 27th. The stock was acquired at an average price of $281.86 per share, for a total transaction of $732,836.00. Following the acquisition, the director directly owned 7,000 shares in the company, valued at $1,973,020. This represents a 59.09% increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. 0.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

NSC has been the subject of several recent analyst reports. Benchmark reaffirmed a “hold” rating on shares of Norfolk Southern in a research report on Monday. BMO Capital Markets upped their price target on shares of Norfolk Southern from $285.00 to $305.00 and gave the stock a “market perform” rating in a report on Friday, October 24th. Deutsche Bank Aktiengesellschaft increased their price target on shares of Norfolk Southern from $290.00 to $354.00 and gave the stock a “buy” rating in a research report on Wednesday, October 1st. JPMorgan Chase & Co. boosted their price objective on shares of Norfolk Southern from $288.00 to $303.00 and gave the company a “neutral” rating in a research report on Wednesday, October 8th. Finally, Jefferies Financial Group reaffirmed a “hold” rating and issued a $300.00 target price on shares of Norfolk Southern in a report on Friday, July 25th. Seven research analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the stock. According to data from MarketBeat, Norfolk Southern currently has a consensus rating of “Hold” and an average price target 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.