Chapin Davis Inc. Sells 160 Shares of Norfolk Southern Co. (NYSE:NSC)

Chapin Davis Inc. lessened its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 10.1% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,422 shares of the railroad operator’s stock after selling 160 shares during the period. Chapin Davis Inc.’s holdings in Norfolk Southern were worth $362,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Raleigh Capital Management Inc. grew its stake in shares of Norfolk Southern by 4.4% during 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 last quarter. MCF Advisors LLC lifted its holdings in Norfolk Southern by 4.2% during the fourth quarter. MCF Advisors LLC now owns 1,016 shares of the railroad operator’s stock worth $240,000 after buying an additional 41 shares during the period. Fiduciary Group LLC lifted its holdings in Norfolk Southern by 0.4% during the fourth quarter. Fiduciary Group LLC now owns 9,986 shares of the railroad operator’s stock worth $2,360,000 after buying an additional 41 shares during the period. ZWJ Investment Counsel Inc. lifted its holdings in Norfolk Southern by 0.6% during the fourth quarter. ZWJ Investment Counsel Inc. now owns 7,456 shares of the railroad operator’s stock worth $1,762,000 after buying an additional 43 shares during the period. Finally, Wealthcare Advisory Partners LLC lifted its holdings in Norfolk Southern by 2.6% during the fourth quarter. Wealthcare Advisory Partners LLC now owns 1,679 shares of the railroad operator’s stock worth $397,000 after buying an additional 43 shares during the period. Institutional investors own 75.10% of the company’s stock.

Insiders Place Their Bets

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

Norfolk Southern Price Performance

NYSE:NSC opened at $214.06 on Tuesday. Norfolk Southern Co. has a 52 week low of $183.09 and a 52 week high of $263.66. The company has a quick ratio of 0.61, a current ratio of 0.68 and a debt-to-equity ratio of 1.37. The stock has a market capitalization of $48.36 billion, a PE ratio of 34.47, a price-to-earnings-growth ratio of 2.03 and a beta of 1.32. The stock’s 50-day moving average price is $227.10 and its 200-day moving average price is $239.01.

Norfolk Southern (NYSE:NSC) last posted its earnings results 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 for the quarter, compared to analyst estimates of $3.05 billion. Norfolk Southern had a net margin of 11.76% and a return on equity of 19.61%. Norfolk Southern’s revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the business earned $3.32 earnings per share. As a group, equities analysts expect that Norfolk Southern Co. will post 11.88 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

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

Analyst Ratings Changes

A number of analysts have weighed in on NSC shares. Susquehanna lowered their target price on Norfolk Southern from $265.00 to $245.00 and set a “neutral” rating for the company in a report on Tuesday, June 25th. UBS Group decreased their price objective on Norfolk Southern from $302.00 to $294.00 and set a “buy” rating for the company in a report on Thursday, April 25th. TD Cowen increased their price objective on Norfolk Southern from $236.00 to $253.00 and gave the company a “market perform” rating in a report on Thursday, March 21st. Barclays decreased their price objective on Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating for the company in a report on Monday, May 13th. Finally, Stifel Nicolaus increased their price objective on Norfolk Southern from $233.00 to $244.00 and gave the company a “hold” rating in a report on Friday, April 12th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat, Norfolk Southern presently has an average 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.