Norfolk Souther Corporation (NSC) Stake Reduced by Chemung Canal Trust Co.

Chemung Canal Trust Co. decreased its stake in Norfolk Souther Corporation (NYSE:NSC) by 2.2% during the first quarter, according to its most recent Form 13F filing with the SEC. The fund owned 2,299 shares of the railroad operator’s stock after selling 51 shares during the period. Chemung Canal Trust Co.’s holdings in Norfolk Souther Corporation were worth $258,000 as of its most recent SEC filing.

A number of other large investors have also added to or reduced their stakes in NSC. Farmers National Bank boosted its stake in Norfolk Souther Corporation by 2.6% in the first quarter. Farmers National Bank now owns 30,515 shares of the railroad operator’s stock valued at $2,962,000 after buying an additional 778 shares during the last quarter. Lowe Brockenbrough & Co. Inc. boosted its stake in Norfolk Souther Corporation by 1.0% in the first quarter. Lowe Brockenbrough & Co. Inc. now owns 78,840 shares of the railroad operator’s stock valued at $8,828,000 after buying an additional 778 shares during the last quarter. Northern Oak Wealth Management Inc. acquired a new stake in Norfolk Souther Corporation during the first quarter valued at $417,000. Meridian Wealth Management LLC acquired a new stake in Norfolk Souther Corporation during the first quarter valued at $309,000. Finally, D Orazio & Associates Inc. boosted its stake in Norfolk Souther Corporation by 0.5% in the first quarter. D Orazio & Associates Inc. now owns 891 shares of the railroad operator’s stock valued at $100,000 after buying an additional 4 shares during the last quarter. Hedge funds and other institutional investors own 70.59% of the company’s stock.

Shares of Norfolk Souther Corporation (NYSE NSC) traded up 0.97% during trading on Friday, reaching $116.56. 1,101,405 shares of the company traded hands. The firm’s 50 day moving average is $118.78 and its 200-day moving average is $118.14. The stock has a market capitalization of $33.59 billion, a P/E ratio of 18.94 and a beta of 1.33. Norfolk Souther Corporation has a 12-month low of $88.07 and a 12-month high of $125.31.

Norfolk Souther Corporation (NYSE:NSC) last announced its quarterly earnings data on Wednesday, July 26th. The railroad operator reported $1.71 earnings per share for the quarter, topping the Zacks’ consensus estimate of $1.65 by $0.06. The business had revenue of $2.64 billion for the quarter, compared to analysts’ expectations of $2.64 billion. Norfolk Souther Corporation had a net margin of 17.66% and a return on equity of 14.45%. The business’s revenue was up 7.5% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.36 earnings per share. On average, equities research analysts anticipate that Norfolk Souther Corporation will post $6.32 earnings per share for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Monday, September 11th. Stockholders of record on Monday, August 7th will be paid a $0.61 dividend. The ex-dividend date is Thursday, August 3rd. This represents a $2.44 annualized dividend and a dividend yield of 2.09%. Norfolk Souther Corporation’s dividend payout ratio is presently 39.61%.

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Several research firms have weighed in on NSC. BidaskClub upgraded Norfolk Souther Corporation from a “strong sell” rating to a “sell” rating in a research note on Thursday. Wolfe Research upgraded shares of Norfolk Souther Corporation from a “market perform” rating to a “buy” rating and set a $126.00 price target for the company in a report on Monday, August 7th. Cowen and Company reiterated an “outperform” rating and set a $130.00 price target on shares of Norfolk Souther Corporation in a report on Tuesday, August 1st. Deutsche Bank AG downgraded shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating and lowered their price target for the stock from $132.00 to $104.00 in a report on Monday, July 31st. Finally, Zacks Investment Research downgraded shares of Norfolk Souther Corporation from a “buy” rating to a “hold” rating in a report on Friday, July 28th. Four equities research analysts have rated the stock with a sell rating, fifteen have issued a hold rating and nine have assigned a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus price target of $112.65.

In other news, VP Thomas E. Hurlbut sold 802 shares of the company’s stock in a transaction that occurred on Thursday, May 25th. The shares were sold at an average price of $116.54, for a total value of $93,465.08. Following the transaction, the vice president now owns 4,300 shares in the company, valued at $501,122. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 0.36% of the company’s stock.

About Norfolk Souther Corporation

Norfolk Southern Corporation is a holding company engaged in the rail transportation business. As of December 31, 2016, the Company operated approximately 19,500 miles of road primarily in the East and Midwest. The Company is engaged in the rail transportation of raw materials, intermediate products and finished goods primarily in the Southeast, East and Midwest.

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Institutional Ownership by Quarter for Norfolk Souther Corporation (NYSE:NSC)

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