Bank of New Hampshire Grows Holdings in Norfolk Southern Co. (NYSE:NSC)

Bank of New Hampshire increased its position in Norfolk Southern Co. (NYSE:NSC) by 17.4% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,690 shares of the railroad operator’s stock after purchasing an additional 250 shares during the period. Bank of New Hampshire’s holdings in Norfolk Southern were worth $399,000 at the end of the most recent reporting period.

Other hedge funds also recently bought and sold shares of the company. Lyell Wealth Management LP purchased a new stake in shares of Norfolk Southern during the 4th quarter valued at about $307,000. Bailard Inc. raised its stake in Norfolk Southern by 3.6% during the 4th quarter. Bailard Inc. now owns 4,271 shares of the railroad operator’s stock worth $1,010,000 after acquiring an additional 149 shares during the period. Tokio Marine Asset Management Co. Ltd. raised its stake in Norfolk Southern by 7.8% during the 4th quarter. Tokio Marine Asset Management Co. Ltd. now owns 4,796 shares of the railroad operator’s stock worth $1,134,000 after acquiring an additional 346 shares during the period. Schnieders Capital Management LLC raised its position in shares of Norfolk Southern by 2.5% during the fourth quarter. Schnieders Capital Management LLC now owns 2,458 shares of the railroad operator’s stock valued at $581,000 after buying an additional 60 shares during the last quarter. Finally, Cutter & CO Brokerage Inc. raised its position in shares of Norfolk Southern by 6.7% during the fourth quarter. Cutter & CO Brokerage Inc. now owns 3,586 shares of the railroad operator’s stock valued at $848,000 after buying an additional 226 shares during the last quarter. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Trading Up 2.0 %

Shares of NSC traded up $4.61 during trading hours on Thursday, reaching $240.83. 1,660,688 shares of the company traded hands, compared to its average volume of 1,286,279. The firm has a market cap of $59.29 billion, a price-to-earnings ratio of 29.40, a PEG ratio of 3.34 and a beta of 1.30. Norfolk Southern Co. has a 12-month low of $183.09 and a 12-month high of $263.66. The company has a current ratio of 1.24, a quick ratio of 1.14 and a debt-to-equity ratio of 1.34. The stock’s fifty day moving average price is $252.34 and its 200 day moving average price is $232.12.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share for the quarter, missing the consensus estimate of $2.58 by ($0.09). The firm had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.05 billion. Norfolk Southern had a net margin of 15.03% and a return on equity of 21.06%. The business’s revenue was down 4.1% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $3.32 earnings per share. Sell-side analysts forecast that Norfolk Southern Co. will post 11.93 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Friday, May 3rd will be issued a $1.35 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $5.40 dividend on an annualized basis and a yield of 2.24%. Norfolk Southern’s dividend payout ratio is presently 67.33%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on NSC shares. Morgan Stanley cut shares of Norfolk Southern from an “equal weight” rating to an “underweight” rating and reduced their price objective for the company from $185.00 to $175.00 in a research report on Monday, January 29th. Barclays upgraded shares of Norfolk Southern from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $255.00 to $305.00 in a research report on Wednesday, February 21st. BMO Capital Markets reduced their price objective on shares of Norfolk Southern from $250.00 to $245.00 and set a “market perform” rating on the stock in a research report on Monday, January 29th. Citigroup raised their target price on shares of Norfolk Southern from $253.00 to $286.00 and gave the company a “buy” rating in a report on Thursday, February 8th. Finally, Jefferies Financial Group started coverage on shares of Norfolk Southern in a report on Monday, April 8th. They issued a “buy” rating and a $300.00 target price for the company. One research analyst has rated the stock with a sell rating, six have issued a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $262.32.

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.