Chemical Bank lessened its holdings in Norfolk Southern Corp. (NYSE:NSC) by 2.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 6,450 shares of the railroad operator’s stock after selling 148 shares during the quarter. Chemical Bank’s holdings in Norfolk Southern were worth $964,000 as of its most recent SEC filing.

Other hedge funds have also modified their holdings of the company. FMR LLC raised its stake in shares of Norfolk Southern by 8.6% in the 2nd quarter. FMR LLC now owns 7,036,787 shares of the railroad operator’s stock valued at $1,061,640,000 after acquiring an additional 555,871 shares in the last quarter. Advisors Asset Management Inc. raised its stake in shares of Norfolk Southern by 94.7% in the 2nd quarter. Advisors Asset Management Inc. now owns 6,636 shares of the railroad operator’s stock valued at $1,001,000 after acquiring an additional 3,227 shares in the last quarter. Polaris Greystone Financial Group LLC bought a new position in shares of Norfolk Southern in the 3rd quarter valued at approximately $169,000. IFM Investors Pty Ltd raised its stake in shares of Norfolk Southern by 16.4% in the 3rd quarter. IFM Investors Pty Ltd now owns 14,836 shares of the railroad operator’s stock valued at $2,678,000 after acquiring an additional 2,089 shares in the last quarter. Finally, Duff & Phelps Investment Management Co. raised its stake in shares of Norfolk Southern by 6.8% in the 3rd quarter. Duff & Phelps Investment Management Co. now owns 39,500 shares of the railroad operator’s stock valued at $7,130,000 after acquiring an additional 2,505 shares in the last quarter. 81.25% of the stock is currently owned by hedge funds and other institutional investors.

In other news, VP Jason Andrew Zampi sold 519 shares of Norfolk Southern stock in a transaction that occurred on Thursday, February 14th. The stock was sold at an average price of $181.34, for a total transaction of $94,115.46. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Michael Joseph Wheeler sold 4,761 shares of Norfolk Southern stock in a transaction that occurred on 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 in the company, valued at approximately $3,554,856.52. The disclosure for this sale can be found here. 0.23% of the stock is currently owned by company insiders.

A number of research analysts recently weighed in on NSC shares. Morgan Stanley raised their price objective 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 downgraded Norfolk Southern from a “buy” rating to a “hold” rating and set a $177.00 price objective on the stock. in a research note on Friday, January 25th. Robert W. Baird cut their price objective on Norfolk Southern from $186.00 to $181.00 and set a “neutral” rating on the stock in a research note on Thursday, October 25th. Argus reissued a “buy” rating on shares of Norfolk Southern in a research note on Thursday, January 3rd. Finally, Credit Suisse Group cut their price objective on Norfolk Southern from $188.00 to $187.00 and set an “outperform” rating on the stock in a research note on Thursday, October 25th. One research analyst has rated the stock with a sell rating, nine have given a hold rating and twelve have given a buy rating to the company’s stock. The company currently has an average rating of “Buy” and an average target price of $182.32.

Shares of NYSE:NSC opened at $182.87 on Tuesday. Norfolk Southern Corp. has a 1-year low of $127.79 and a 1-year high of $186.91. The company has a market cap of $48.91 billion, a PE ratio of 19.23, a PEG ratio of 1.55 and a beta of 1.38. The company has a current ratio of 0.72, a quick ratio of 0.64 and a debt-to-equity ratio of 0.69.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, January 24th. The railroad operator reported $2.57 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $2.30 by $0.27. Norfolk Southern had a return on equity of 16.71% and a net margin of 23.27%. The company had revenue of $2.90 billion for the quarter, compared to analyst estimates of $2.85 billion. During the same quarter last year, the firm earned $1.69 EPS. Norfolk Southern’s revenue for the quarter was up 8.5% compared to the same quarter last year. Research analysts expect that Norfolk Southern Corp. will post 10.37 EPS for the current year.

The company also recently disclosed a quarterly dividend, which will be paid on Monday, March 11th. Stockholders of record on Monday, February 4th will be issued a dividend of $0.86 per share. This represents a $3.44 annualized dividend and a dividend yield of 1.88%. The ex-dividend date is Friday, February 1st. This is a positive change from Norfolk Southern’s previous quarterly dividend of $0.80. Norfolk Southern’s dividend payout ratio (DPR) is presently 36.17%.

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Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.

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

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