Norfolk Southern Co. (NYSE:NSC) Shares Acquired by Meeder Asset Management Inc.

Meeder Asset Management Inc. increased its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 271.1% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 32,242 shares of the railroad operator’s stock after acquiring an additional 23,553 shares during the period. Meeder Asset Management Inc.’s holdings in Norfolk Southern were worth $8,218,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds and other institutional investors have also recently bought and sold shares of NSC. Exchange Traded Concepts LLC boosted its position in Norfolk Southern by 662.5% during the fourth quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock worth $29,000 after purchasing an additional 106 shares in the last quarter. Turtle Creek Wealth Advisors LLC purchased a new position in Norfolk Southern during the fourth quarter worth approximately $32,000. Financial Connections Group Inc. purchased a new position in Norfolk Southern during the fourth quarter worth approximately $34,000. Rise Advisors LLC purchased a new position in Norfolk Southern during the first quarter worth approximately $34,000. Finally, Creative Financial Designs Inc. ADV lifted its position in shares of Norfolk Southern by 317.1% in the fourth quarter. Creative Financial Designs Inc. ADV now owns 146 shares of the railroad operator’s stock valued at $35,000 after acquiring an additional 111 shares in the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently weighed in on NSC. UBS Group decreased their target price on Norfolk Southern from $302.00 to $294.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Royal Bank of Canada upgraded Norfolk Southern from a “sector perform” rating to an “outperform” rating and set a $270.00 target price on the stock in a research report on Thursday, May 23rd. Morgan Stanley restated an “underweight” rating and issued a $175.00 target price on shares of Norfolk Southern in a research report on Monday, July 8th. Susquehanna decreased their target price on Norfolk Southern from $265.00 to $245.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 25th. Finally, Stifel Nicolaus increased their price target on Norfolk Southern from $233.00 to $244.00 and gave the company a “hold” rating in a report on Friday, April 12th. One analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company. According to data from MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $263.82.

Insiders Place Their Bets

In other news, CMO Claude E. Elkins sold 8,329 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $228.43, for a total value of $1,902,593.47. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, Director Sameh Fahmy purchased 2,000 shares of the company’s stock in a transaction that occurred on Friday, June 14th. The shares were purchased at an average price of $219.25 per share, for a total transaction of $438,500.00. Following the transaction, the director now directly owns 7,000 shares of the company’s stock, valued at approximately $1,534,750. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CMO Claude E. Elkins sold 8,329 shares of the business’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $228.43, for a total value of $1,902,593.47. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

Norfolk Southern Stock Up 2.9 %

NYSE NSC traded up $6.41 during trading on Monday, reaching $227.76. 1,058,356 shares of the company’s stock were exchanged, compared to its average volume of 1,306,947. The stock has a market cap of $51.45 billion, a P/E ratio of 36.68, a price-to-earnings-growth ratio of 2.17 and a beta of 1.32. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.61 and a current ratio of 0.68. The company has a 50 day moving average price of $222.75 and a two-hundred day moving average price of $237.73. Norfolk Southern Co. has a 1 year low of $183.09 and a 1 year high of $263.66.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share (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 analysts’ expectations of $3.05 billion. Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same period last year, the firm earned $3.32 earnings per share. On average, equities research analysts anticipate that Norfolk Southern Co. will post 11.68 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Friday, May 3rd were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.37%. The ex-dividend date of this dividend was Thursday, May 2nd. Norfolk Southern’s dividend payout ratio (DPR) is 86.96%.

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.