Chemung Canal Trust Co. acquired a new stake in shares of Norfolk Southern Corp. (NYSE:NSC) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 1,113 shares of the railroad operator’s stock, valued at approximately $208,000.

Several other institutional investors and hedge funds also recently bought and sold shares of NSC. Bruderman Asset Management LLC purchased a new stake in Norfolk Southern in the 4th quarter worth approximately $26,000. Intercontinental Wealth Advisors LLC acquired a new stake in shares of Norfolk Southern during the 4th quarter worth about $27,000. Moody National Bank Trust Division acquired a new position in Norfolk Southern during the fourth quarter worth approximately $31,000. Pinnacle Bank purchased a new position in shares of Norfolk Southern in the 4th quarter valued at approximately $33,000. Finally, PRW Wealth Management LLC purchased a new position in shares of Norfolk Southern in the 4th quarter valued at approximately $36,000. Hedge funds and other institutional investors own 74.39% of the company’s stock.

NSC stock traded down $0.56 during trading on Wednesday, hitting $192.19. The company had a trading volume of 592,530 shares, compared to its average volume of 1,729,631. The company has a debt-to-equity ratio of 0.69, a current ratio of 0.72 and a quick ratio of 0.64. Norfolk Southern Corp. has a 12 month low of $129.00 and a 12 month high of $194.63. The stock has a market capitalization of $51.55 billion, a PE ratio of 20.21, a price-to-earnings-growth ratio of 1.64 and a beta of 1.43.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, January 24th. The railroad operator reported $2.57 earnings per share for the quarter, topping the consensus estimate of $2.30 by $0.27. The firm had revenue of $2.90 billion during the quarter, compared to analysts’ expectations of $2.85 billion. Norfolk Southern had a net margin of 23.27% and a return on equity of 16.71%. Norfolk Southern’s revenue was up 8.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.69 EPS. As a group, equities analysts expect that Norfolk Southern Corp. will post 10.39 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which was paid on Monday, March 11th. Shareholders of record on Monday, February 4th were issued a $0.86 dividend. This represents a $3.44 dividend on an annualized basis and a yield of 1.79%. This is a boost from Norfolk Southern’s previous quarterly dividend of $0.80. The ex-dividend date was Friday, February 1st. Norfolk Southern’s dividend payout ratio (DPR) is presently 36.17%.

Several equities analysts recently commented on NSC shares. Morgan Stanley upped their target price on Norfolk Southern from $115.00 to $116.00 and gave the company an “underweight” rating in a research note on Monday, January 7th. Deutsche Bank cut Norfolk Southern from a “buy” rating to a “hold” rating and set a $177.00 price target on the stock. in a research report on Friday, January 25th. Argus reaffirmed a “buy” rating on shares of Norfolk Southern in a research note on Thursday, January 3rd. Loop Capital raised their target price on Norfolk Southern to $197.00 and gave the stock a “buy” rating in a research report on Friday, January 25th. Finally, Credit Suisse Group cut their price objective on Norfolk Southern from $187.00 to $175.00 and set an “outperform” rating for the company in a report on Monday, January 7th. Two equities research analysts have rated the stock with a sell rating, eight have issued a hold rating and twelve have given a buy rating to the company’s stock. The stock currently has an average rating of “Hold” and an average target price of $190.47.

In related news, COO Michael Joseph Wheeler sold 4,761 shares of the firm’s stock in a transaction dated Tuesday, February 12th. The stock was sold at an average price of $180.23, for a total value of $858,075.03. Following the sale, the chief operating officer now directly owns 19,724 shares of the company’s stock, valued at $3,554,856.52. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Jason Andrew Zampi sold 519 shares of the firm’s stock in a transaction dated Thursday, February 14th. The stock was sold at an average price of $181.34, for a total value of $94,115.46. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

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About Norfolk Southern

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.

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

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