Chemistry Wealth Management LLC Increases Stock Position in Norfolk Southern Co. (NYSE:NSC)

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

Several other hedge funds have also recently modified their holdings of NSC. Raleigh Capital Management Inc. boosted its holdings in Norfolk Southern by 4.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 956 shares of the railroad operator’s stock worth $226,000 after buying an additional 40 shares in the last quarter. MCF Advisors LLC boosted 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 in the last quarter. Fiduciary Group LLC boosted 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 in the last quarter. ZWJ Investment Counsel Inc. boosted 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 in the last quarter. Finally, Wealthcare Advisory Partners LLC boosted 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 in the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insider Buying and Selling

In other Norfolk Southern news, CMO Claude E. Elkins sold 8,329 shares of Norfolk Southern stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $228.43, for a total transaction of $1,902,593.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other Norfolk Southern news, CMO Claude E. Elkins sold 8,329 shares of Norfolk Southern stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $228.43, for a total transaction of $1,902,593.47. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, Director Claude Mongeau purchased 5,650 shares of the company’s stock in a transaction on Wednesday, May 29th. The shares were bought at an average price of $221.00 per share, with a total value of $1,248,650.00. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at $4,420,000. The disclosure for this purchase can be found here. 0.19% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the stock. The Goldman Sachs Group increased their price target on shares of Norfolk Southern from $252.00 to $283.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Barclays decreased their price objective on shares of Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating on the stock in a report on Monday, May 13th. TD Cowen increased their price objective on shares of Norfolk Southern from $236.00 to $253.00 and gave the company a “market perform” rating in a report on Thursday, March 21st. UBS Group decreased their price objective on shares of Norfolk Southern from $302.00 to $294.00 and set a “buy” rating on the stock in a report on Thursday, April 25th. Finally, Susquehanna decreased their price objective on shares of Norfolk Southern from $265.00 to $245.00 and set a “neutral” rating on the stock in a report on Tuesday. One research analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $262.89.

Norfolk Southern Trading Down 0.4 %

Norfolk Southern stock traded down $0.78 during midday trading on Wednesday, hitting $212.59. 1,521,199 shares of the stock were exchanged, compared to its average volume of 1,324,844. Norfolk Southern Co. has a fifty-two week low of $183.09 and a fifty-two week high of $263.66. The stock has a market capitalization 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 stock’s 50-day simple moving average is $228.77 and its 200 day simple moving average is $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 (NYSE:NSC) last released its quarterly earnings data on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.58 by ($0.09). Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3.05 billion. During the same quarter in the previous year, the business posted $3.32 earnings per share. Norfolk Southern’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, equities analysts anticipate that Norfolk Southern Co. will post 11.88 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Friday, May 3rd were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.54%. The ex-dividend date was Thursday, May 2nd. Norfolk Southern’s payout ratio is currently 86.96%.

Norfolk Southern 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.