Chevy Chase Trust Holdings LLC Has $29.56 Million Holdings in Norfolk Southern Co. (NYSE:NSC)

Chevy Chase Trust Holdings LLC lessened its holdings in Norfolk Southern Co. (NYSE:NSC) by 1.9% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 125,933 shares of the railroad operator’s stock after selling 2,501 shares during the period. Chevy Chase Trust Holdings LLC owned 0.06% of Norfolk Southern worth $29,556,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. Principal Financial Group Inc. raised its holdings in Norfolk Southern by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator’s stock worth $63,417,000 after acquiring an additional 8,844 shares during the period. Mirae Asset Global Investments Co. Ltd. raised its holdings in Norfolk Southern by 20.5% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock worth $3,556,000 after acquiring an additional 2,453 shares during the period. Sumitomo Mitsui Trust Group Inc. raised its holdings in Norfolk Southern by 0.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator’s stock worth $132,565,000 after acquiring an additional 3,621 shares during the period. Pathway Financial Advisers LLC raised its holdings in Norfolk Southern by 25,181.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock worth $222,025,000 after acquiring an additional 889,925 shares during the period. Finally, Caprock Group LLC bought a new position in Norfolk Southern in the 4th quarter worth $1,796,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Insider Buying and Selling at Norfolk Southern

In related news, Director Sameh Fahmy bought 350 shares of Norfolk Southern stock in a transaction dated Thursday, December 12th. The shares were bought at an average cost of $249.37 per share, for a total transaction of $87,279.50. Following the completion of the transaction, the director now owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Gilbert H. Lamphere bought 607 shares of Norfolk Southern stock in a transaction dated Friday, January 31st. The shares were bought at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the transaction, the director now directly owns 2,487 shares of the company’s stock, valued at $646,271.82. This represents a 32.29 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company’s stock.

Analyst Ratings Changes

Several research analysts recently commented on NSC shares. UBS Group lifted their target price on shares of Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Wells Fargo & Company dropped their target price on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a report on Tuesday, January 7th. Royal Bank of Canada boosted their price objective on shares of Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Susquehanna dropped their price objective on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Finally, Robert W. Baird boosted their price objective on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $276.11.

Norfolk Southern Stock Performance

NYSE NSC opened at $255.90 on Friday. The stock has a market cap of $57.89 billion, a P/E ratio of 22.14, a PEG ratio of 2.32 and a beta of 1.35. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month high of $277.60. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. The company’s 50-day simple moving average is $245.44 and its 200 day simple moving average is $250.38.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. As a group, research analysts forecast that Norfolk Southern Co. will post 13.02 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Friday, February 7th will be given a $1.35 dividend. The ex-dividend date of this dividend is Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a yield of 2.11%. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

About Norfolk Southern

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.