Norfolk Southern Co. (NYSE:NSC) Shares Acquired by Chemistry Wealth Management LLC

Chemistry Wealth Management LLC increased its stake in Norfolk Southern Co. (NYSE:NSC) by 2.2% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 4,551 shares of the railroad operator’s stock after acquiring an additional 97 shares during the period. Chemistry Wealth Management LLC’s holdings in Norfolk Southern were worth $1,160,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of NSC. Raleigh Capital Management Inc. raised its holdings in Norfolk Southern by 4.4% in the fourth quarter. Raleigh Capital Management Inc. now owns 956 shares of the railroad operator’s stock valued at $226,000 after buying an additional 40 shares during the period. MCF Advisors LLC raised its holdings in Norfolk Southern by 4.2% in the fourth quarter. MCF Advisors LLC now owns 1,016 shares of the railroad operator’s stock valued at $240,000 after buying an additional 41 shares during the period. Fiduciary Group LLC raised its holdings in Norfolk Southern by 0.4% in the fourth quarter. Fiduciary Group LLC now owns 9,986 shares of the railroad operator’s stock valued at $2,360,000 after buying an additional 41 shares during the period. ZWJ Investment Counsel Inc. raised its holdings in Norfolk Southern by 0.6% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 7,456 shares of the railroad operator’s stock valued at $1,762,000 after buying an additional 43 shares during the period. Finally, Wealthcare Advisory Partners LLC raised its stake in shares of Norfolk Southern by 2.6% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 1,679 shares of the railroad operator’s stock valued at $397,000 after purchasing an additional 43 shares during the period. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Stock Performance

Norfolk Southern stock traded down $0.78 during mid-day trading on Wednesday, reaching $212.59. The company’s stock had a trading volume of 1,521,199 shares, compared to its average volume of 1,324,844. The firm has a market cap of $48.03 billion, a price-to-earnings ratio of 34.22, a PEG ratio of 2.01 and a beta of 1.31. The business has a 50 day moving average price of $228.77 and a 200-day moving average price of $239.25. The company has a current ratio of 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.37. Norfolk Southern Co. has a twelve month low of $183.09 and a twelve month high of $263.66.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.49 EPS for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.09). The business had revenue of $3 billion during the quarter, compared to analyst estimates of $3.05 billion. Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The business’s revenue for the quarter was down 4.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $3.32 EPS. Sell-side analysts predict 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. Shareholders of record on Friday, May 3rd were given a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.54%. The ex-dividend date was Thursday, May 2nd. Norfolk Southern’s dividend payout ratio (DPR) is presently 86.96%.

Insiders Place Their Bets

In other Norfolk Southern news, CMO Claude E. Elkins sold 8,329 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $228.43, for a total value of $1,902,593.47. The sale was disclosed in a legal filing with the SEC, which is available through the SEC website. In related news, Director Sameh Fahmy acquired 2,000 shares of the business’s stock in a transaction on Friday, June 14th. The shares were purchased at an average price of $219.25 per share, for a total transaction of $438,500.00. Following the acquisition, the director now owns 7,000 shares in the company, valued at $1,534,750. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CMO Claude E. Elkins sold 8,329 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $228.43, for a total value of $1,902,593.47. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently issued reports on NSC. UBS Group dropped their price objective on shares of Norfolk Southern from $302.00 to $294.00 and set a “buy” rating on the stock in a research note on Thursday, April 25th. TD Cowen lifted their price objective on shares of Norfolk Southern from $236.00 to $253.00 and gave the company a “market perform” rating in a research note on Thursday, March 21st. Benchmark reiterated a “buy” rating and set a $277.00 price objective on shares of Norfolk Southern in a research note on Thursday, April 25th. Royal Bank of Canada upgraded shares of Norfolk Southern from a “sector perform” rating to an “outperform” rating and set a $270.00 price objective on the stock in a research note on Thursday, May 23rd. Finally, JPMorgan Chase & Co. lifted their price objective on shares of Norfolk Southern from $240.00 to $275.00 and gave the company an “overweight” rating in a research note on Tuesday, April 9th. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $262.89.

Norfolk Southern Company 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.