Norfolk Southern Co. (NYSE:NSC) Shares Purchased by Meeder Advisory Services Inc.

Meeder Advisory Services Inc. raised its stake in Norfolk Southern Co. (NYSE:NSC) by 5.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 3,907 shares of the railroad operator’s stock after purchasing an additional 188 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Norfolk Southern were worth $996,000 at the end of the most recent reporting period.

A number of other large investors also recently bought and sold shares of NSC. Meeder Asset Management Inc. lifted its holdings in shares of Norfolk Southern by 271.1% in the first quarter. Meeder Asset Management Inc. now owns 32,242 shares of the railroad operator’s stock valued at $8,218,000 after purchasing an additional 23,553 shares in the last quarter. NorthRock Partners LLC raised its stake in Norfolk Southern by 19.5% during the first quarter. NorthRock Partners LLC now owns 2,132 shares of the railroad operator’s stock worth $543,000 after purchasing an additional 348 shares during the period. Choate Investment Advisors grew its position in Norfolk Southern by 33.2% during the first quarter. Choate Investment Advisors now owns 4,016 shares of the railroad operator’s stock valued at $1,024,000 after acquiring an additional 1,000 shares during the period. Fiduciary Family Office LLC raised its holdings in Norfolk Southern by 90.8% in the first quarter. Fiduciary Family Office LLC now owns 6,090 shares of the railroad operator’s stock valued at $1,552,000 after buying an additional 2,898 shares during the period. Finally, Sei Investments Co. raised its position in Norfolk Southern by 12.2% in the first quarter. Sei Investments Co. now owns 272,530 shares of the railroad operator’s stock valued at $69,455,000 after purchasing an additional 29,596 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insiders Place Their Bets

In other Norfolk Southern news, Director Claude Mongeau purchased 5,650 shares of the firm’s stock in a transaction that occurred on Wednesday, May 29th. The shares were acquired at an average cost of $221.00 per share, for a total transaction of $1,248,650.00. Following the completion of the purchase, the director now owns 20,000 shares of the company’s stock, valued at approximately $4,420,000. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, Director Claude Mongeau purchased 5,650 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was bought at an average price of $221.00 per share, with a total value of $1,248,650.00. Following the acquisition, the director now owns 20,000 shares in the company, valued at approximately $4,420,000. The acquisition was disclosed in a filing 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 on Friday, May 10th. The stock was 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. Company insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Performance

Norfolk Southern stock traded up $4.20 during mid-day trading on Tuesday, hitting $231.96. 139,362 shares of the company’s stock traded hands, compared to its average volume of 1,298,297. 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 cap of $52.40 billion, a price-to-earnings ratio of 37.08, a P/E/G ratio of 2.17 and a beta of 1.32. The firm has a 50 day simple moving average of $222.75 and a two-hundred day simple moving average of $237.73. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.68 and a quick ratio of 0.61.

Norfolk Southern (NYSE:NSC) last announced its quarterly 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 company had revenue of $3 billion during 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%. The firm’s quarterly revenue was down 4.1% on a year-over-year basis. During the same quarter last year, the company posted $3.32 EPS. On average, research analysts expect that Norfolk Southern Co. will post 11.68 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Friday, May 3rd were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.33%. The ex-dividend date was Thursday, May 2nd. Norfolk Southern’s dividend payout ratio is 86.96%.

Analysts Set New Price Targets

A number of equities analysts have weighed in on the company. Stifel Nicolaus upped their price target on Norfolk Southern from $233.00 to $244.00 and gave the stock a “hold” rating in a report on Friday, April 12th. Jefferies Financial Group initiated coverage on shares of Norfolk Southern in a research report on Monday, April 8th. They set a “buy” rating and a $300.00 price target on the stock. Loop Capital lifted their price objective on shares of Norfolk Southern from $261.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Barclays dropped their target price on Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday, May 13th. Finally, Wells Fargo & Company decreased their target price on shares of Norfolk Southern from $270.00 to $260.00 and set an “overweight” rating for the company in a research report on Tuesday, June 25th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus price target of $263.82.

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.