Piscataqua Savings Bank Has $138,000 Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

Piscataqua Savings Bank lowered its holdings in shares of Norfolk Southern Co. (NYSE:NSCGet Rating) by 76.7% in the second quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 609 shares of the railroad operator’s stock after selling 2,000 shares during the period. Piscataqua Savings Bank’s holdings in Norfolk Southern were worth $138,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of NSC. NuWave Investment Management LLC acquired a new position in shares of Norfolk Southern during the 2nd quarter worth $25,000. Vectors Research Management LLC raised its holdings in shares of Norfolk Southern by 468.8% during the 4th quarter. Vectors Research Management LLC now owns 91 shares of the railroad operator’s stock worth $27,000 after buying an additional 75 shares in the last quarter. Blume Capital Management Inc. acquired a new position in shares of Norfolk Southern during the 1st quarter worth $29,000. Worth Asset Management LLC acquired a new position in shares of Norfolk Southern during the 1st quarter worth $30,000. Finally, Concord Wealth Partners raised its holdings in shares of Norfolk Southern by 2,300.0% during the 1st quarter. Concord Wealth Partners now owns 120 shares of the railroad operator’s stock worth $34,000 after buying an additional 115 shares in the last quarter. Institutional investors and hedge funds own 73.44% of the company’s stock.

Analysts Set New Price Targets

NSC has been the topic of a number of research reports. Barclays reduced their price objective on Norfolk Southern from $300.00 to $255.00 and set an “equal weight” rating on the stock in a research report on Tuesday, June 14th. JPMorgan Chase & Co. lowered Norfolk Southern from an “overweight” rating to a “neutral” rating and reduced their price objective for the stock from $306.00 to $258.00 in a research report on Tuesday, July 12th. Susquehanna Bancshares reduced their price objective on Norfolk Southern from $350.00 to $275.00 in a research report on Wednesday, July 6th. Stifel Nicolaus upgraded Norfolk Southern from a “hold” rating to a “buy” rating and reduced their price objective for the stock from $289.00 to $275.00 in a research report on Friday, July 15th. They noted that the move was a valuation call. Finally, StockNews.com upgraded Norfolk Southern from a “hold” rating to a “buy” rating in a research report on Thursday, September 1st. Two research analysts have rated the stock with a sell rating, five have issued a hold rating and eleven have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus price target of $283.10.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $233.98 on Monday. Norfolk Southern Co. has a one year low of $217.00 and a one year high of $299.20. The business has a fifty day moving average price of $245.82 and a 200-day moving average price of $249.36. The company has a debt-to-equity ratio of 1.10, a current ratio of 1.10 and a quick ratio of 0.98. The firm has a market capitalization of $54.96 billion, a P/E ratio of 18.63, a PEG ratio of 1.73 and a beta of 1.32.

Norfolk Southern (NYSE:NSCGet Rating) last issued its quarterly earnings data on Wednesday, July 27th. The railroad operator reported $3.45 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $3.48 by ($0.03). Norfolk Southern had a return on equity of 22.42% and a net margin of 25.57%. The business had revenue of $3.25 billion during the quarter, compared to analysts’ expectations of $3.14 billion. During the same quarter last year, the business posted $3.28 EPS. The company’s quarterly revenue was up 16.1% on a year-over-year basis. As a group, equities research analysts forecast that Norfolk Southern Co. will post 13.69 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Saturday, August 20th. Shareholders of record on Monday, August 8th were given a dividend of $1.24 per share. The ex-dividend date was Friday, August 5th. This represents a $4.96 dividend on an annualized basis and a yield of 2.12%. Norfolk Southern’s payout ratio is 39.49%.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, Director James A. Squires sold 105,420 shares of the firm’s stock in a transaction dated Tuesday, August 2nd. The stock was sold at an average price of $248.81, for a total transaction of $26,229,550.20. Following the sale, the director now owns 42,728 shares in the company, valued at $10,631,153.68. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.31% of the company’s stock.

Norfolk Southern Company Profile

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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, scrap paper, beverages, canned goods, and consumer products; chemicals consist of sulfur and related chemicals, petroleum products, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, and sand; 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.

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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