Chesapeake Wealth Management trimmed its holdings in Norfolk Southern Corp. (NYSE:NSC) by 6.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 4,294 shares of the railroad operator’s stock after selling 274 shares during the quarter. Chesapeake Wealth Management’s holdings in Norfolk Southern were worth $642,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also made changes to their positions in the company. Intercontinental Wealth Advisors LLC acquired a new position in Norfolk Southern in the fourth quarter valued at approximately $27,000. Moody National Bank Trust Division acquired a new stake in shares of Norfolk Southern in the fourth quarter valued at approximately $31,000. Arlington Partners LLC acquired a new stake in shares of Norfolk Southern in the fourth quarter valued at approximately $37,000. Contravisory Investment Management Inc. acquired a new stake in shares of Norfolk Southern in the fourth quarter valued at approximately $45,000. Finally, Trust Department MB Financial Bank N A acquired a new stake in shares of Norfolk Southern in the fourth quarter valued at approximately $47,000. 81.25% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE NSC opened at $180.95 on Thursday. 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 1-year low of $127.79 and a 1-year high of $186.91. The firm has a market cap of $46.70 billion, a P/E ratio of 19.03, a P/E/G ratio of 1.58 and a beta of 1.38.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results 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 firm had revenue of $2.90 billion during the quarter, compared to the consensus estimate of $2.85 billion. During the same period last year, the company earned $1.69 earnings per share. The company’s revenue for the quarter was up 8.5% on a year-over-year basis. On average, sell-side analysts predict that Norfolk Southern Corp. will post 10.25 earnings per share for the current fiscal year.

The business also recently declared a quarterly dividend, which will be paid on Monday, March 11th. Investors of record on Monday, February 4th will be issued a dividend of $0.86 per share. The ex-dividend date of this dividend is Friday, February 1st. This is an increase from Norfolk Southern’s previous quarterly dividend of $0.80. This represents a $3.44 annualized dividend and a dividend yield of 1.90%. Norfolk Southern’s dividend payout ratio (DPR) is currently 36.17%.

Several research firms have recently weighed in on NSC. ValuEngine raised Norfolk Southern from a “hold” rating to a “buy” rating in a report on Tuesday. Zacks Investment Research raised Norfolk Southern from a “hold” rating to a “buy” rating and set a $191.00 price objective for the company in a report on Wednesday, November 21st. BMO Capital Markets increased their price objective on Norfolk Southern to $185.00 and gave the company a “market perform” rating in a report on Tuesday. Credit Suisse Group increased their price objective on Norfolk Southern from $181.00 to $195.00 and gave the company an “outperform” rating in a report on Tuesday. Finally, Loop Capital increased their price objective on Norfolk Southern to $210.00 and gave the company a “buy” rating in a report on Monday. One analyst has rated the stock with a sell rating, nine have issued a hold rating and twelve have issued a buy rating to the company. The stock currently has an average rating of “Buy” and an average target price of $182.32.

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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. 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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