Longfellow Investment Management Co. LLC Cuts Holdings in Norfolk Southern Corporation $NSC

Longfellow Investment Management Co. LLC decreased its stake in Norfolk Southern Corporation (NYSE:NSC) by 51.7% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 3,120 shares of the railroad operator’s stock after selling 3,333 shares during the period. Longfellow Investment Management Co. LLC’s holdings in Norfolk Southern were worth $937,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in NSC. ORG Partners LLC increased its stake in Norfolk Southern by 75.0% in the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock valued at $25,000 after acquiring an additional 36 shares during the last quarter. Westside Investment Management Inc. boosted its holdings in shares of Norfolk Southern by 207.1% in the 3rd quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock worth $26,000 after purchasing an additional 58 shares in the last quarter. BNP Paribas bought a new position in shares of Norfolk Southern during the 2nd quarter valued at about $26,000. True Wealth Design LLC raised its holdings in shares of Norfolk Southern by 423.8% during the 2nd quarter. True Wealth Design LLC now owns 110 shares of the railroad operator’s stock valued at $28,000 after buying an additional 89 shares in the last quarter. Finally, MMA Asset Management LLC bought a new stake in Norfolk Southern in the 3rd quarter worth approximately $28,000. 75.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the stock. Weiss Ratings reissued a “hold (c+)” rating on shares of Norfolk Southern in a research note on Thursday, January 22nd. Robert W. Baird reduced their target price on shares of Norfolk Southern from $293.00 to $288.00 and set a “neutral” rating on the stock in a report on Friday, January 30th. Morgan Stanley raised shares of Norfolk Southern from an “equal weight” rating to a “buy” rating in a research note on Thursday, December 18th. Deutsche Bank Aktiengesellschaft cut Norfolk Southern from a “buy” rating to a “hold” rating and reduced their price objective for the company from $354.00 to $297.00 in a research note on Thursday, December 11th. Finally, Zacks Research upgraded Norfolk Southern from a “strong sell” rating to a “hold” rating in a report on Wednesday. Seven investment analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $304.47.

Norfolk Southern Price Performance

NSC stock opened at $311.57 on Friday. The firm’s 50-day moving average price is $299.85 and its two-hundred day moving average price is $291.39. Norfolk Southern Corporation has a 12-month low of $201.63 and a 12-month high of $319.94. The stock has a market capitalization of $69.97 billion, a price-to-earnings ratio of 24.44, a PEG ratio of 5.74 and a beta of 1.31. The company has a current ratio of 0.85, a quick ratio of 0.78 and a debt-to-equity ratio of 1.06.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, topping analysts’ consensus estimates of $2.76 by $0.46. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. The company had revenue of $3 billion during the quarter, compared to analyst estimates of $3.03 billion. During the same period in the prior year, the business posted $3.04 earnings per share. Norfolk Southern’s revenue for the quarter was down 1.7% on a year-over-year basis. As a group, equities analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 6th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $5.40 annualized dividend and a dividend yield of 1.7%. Norfolk Southern’s payout ratio is 42.35%.

Norfolk Southern Company Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.