Norfolk Southern Co. (NYSE:NSC) Shares Sold by Chapin Davis Inc.

Chapin Davis Inc. reduced its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 10.1% during the 1st quarter, HoldingsChannel reports. The institutional investor owned 1,422 shares of the railroad operator’s stock after selling 160 shares during the quarter. Chapin Davis Inc.’s holdings in Norfolk Southern were worth $362,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in NSC. Exchange Traded Concepts LLC grew its position in Norfolk Southern by 662.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock worth $29,000 after buying an additional 106 shares during the period. Orion Capital Management LLC acquired a new stake in shares of Norfolk Southern in the third quarter valued at approximately $32,000. Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Norfolk Southern in the fourth quarter valued at approximately $32,000. Financial Connections Group Inc. acquired a new stake in shares of Norfolk Southern in the fourth quarter valued at approximately $34,000. Finally, Rise Advisors LLC acquired a new stake in shares of Norfolk Southern in the first quarter valued at approximately $34,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

NSC opened at $214.06 on Tuesday. The company has a 50-day moving average of $227.10 and a 200-day moving average of $239.01. The company has a market capitalization of $48.36 billion, a P/E ratio of 34.47, a PEG ratio of 2.03 and a beta of 1.32. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.61 and a current ratio of 0.68.

Norfolk Southern (NYSE:NSC) last released its earnings results 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). Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The company had revenue of $3 billion during the quarter, compared to the consensus estimate of $3.05 billion. During the same period in the previous year, the firm posted $3.32 EPS. Norfolk Southern’s revenue for the quarter was down 4.1% on a year-over-year basis. Equities analysts expect that Norfolk Southern Co. will post 11.88 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Monday, May 20th. Stockholders of record on Friday, May 3rd were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.52%. The ex-dividend date was Thursday, May 2nd. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

Insider Activity

In other Norfolk Southern news, Director Sameh Fahmy purchased 2,000 shares of the firm’s stock in a transaction dated Friday, June 14th. The stock was acquired at an average cost of $219.25 per share, with a total value of $438,500.00. Following the acquisition, the director now owns 7,000 shares of the company’s stock, valued at approximately $1,534,750. The purchase was disclosed in a filing with the SEC, which is accessible through this link. In other news, Director Sameh Fahmy bought 2,000 shares of Norfolk Southern stock in a transaction on Friday, June 14th. The stock was purchased at an average cost of $219.25 per share, with a total value of $438,500.00. Following the purchase, the director now directly owns 7,000 shares of the company’s stock, valued at approximately $1,534,750. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CMO Claude E. Elkins sold 8,329 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $228.43, for a total transaction of $1,902,593.47. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have recently commented on NSC. Stifel Nicolaus increased their price target on shares of Norfolk Southern from $233.00 to $244.00 and gave the company a “hold” rating in a research report on Friday, April 12th. UBS Group decreased their price target on shares of Norfolk Southern from $302.00 to $294.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Benchmark reiterated a “buy” rating and issued a $277.00 price target on shares of Norfolk Southern in a report on Thursday, April 25th. JPMorgan Chase & Co. lifted their price target on shares of Norfolk Southern from $240.00 to $275.00 and gave the company an “overweight” rating in a report on Tuesday, April 9th. Finally, Susquehanna cut their target price on shares of Norfolk Southern from $265.00 to $245.00 and set a “neutral” rating on the stock in a research note on Tuesday, June 25th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $262.89.

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.