Meeder Advisory Services Inc. bought a new stake in Norfolk Southern Corporation (NYSE:NSC – Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 4,783 shares of the railroad operator’s stock, valued at approximately $1,505,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Brighton Jones LLC increased its stake in Norfolk Southern by 4.9% during the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock worth $400,000 after acquiring an additional 79 shares during the last quarter. Intech Investment Management LLC lifted its stake in shares of Norfolk Southern by 40.4% in the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock valued at $1,527,000 after purchasing an additional 1,855 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Norfolk Southern during the 2nd quarter worth $327,000. Schnieders Capital Management LLC. increased its position in shares of Norfolk Southern by 64.1% during the 2nd quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock worth $1,094,000 after purchasing an additional 1,670 shares during the last quarter. Finally, Jump Financial LLC raised its holdings in Norfolk Southern by 185.1% in the 2nd quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator’s stock valued at $1,174,000 after buying an additional 2,979 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.
Analyst Ratings Changes
NSC has been the topic of a number of recent analyst reports. Wells Fargo & Company upped their target price on shares of Norfolk Southern from $365.00 to $385.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. Stephens upgraded shares of Norfolk Southern to a “hold” rating in a research report on Wednesday, July 8th. Royal Bank Of Canada boosted their price target on shares of Norfolk Southern from $320.00 to $360.00 and gave the company a “sector perform” rating in a research note on Friday, July 24th. Wall Street Zen upgraded shares of Norfolk Southern from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Finally, UBS Group reaffirmed a “neutral” rating and set a $363.00 price objective on shares of Norfolk Southern in a research report on Friday, July 24th. Seven investment analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat.com, Norfolk Southern has a consensus rating of “Hold” and a consensus target price of $348.00.
Norfolk Southern Price Performance
NSC stock opened at $345.56 on Thursday. The business’s fifty day moving average price is $326.76 and its 200 day moving average price is $312.66. Norfolk Southern Corporation has a 12-month low of $268.23 and a 12-month high of $358.60. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98. The company has a market capitalization of $77.62 billion, a PE ratio of 29.48, a P/E/G ratio of 6.00 and a beta of 1.27.
Norfolk Southern (NYSE:NSC – Get Free Report) last announced its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, beating analysts’ consensus estimates of $3.32 by $0.20. The company had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.Norfolk Southern’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same period last year, the business posted $3.29 EPS. On average, sell-side analysts anticipate that Norfolk Southern Corporation will post 12.66 EPS for the current year.
Norfolk Southern Dividend Announcement
The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 20th. Stockholders of record on Friday, August 7th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.6%. The ex-dividend date of this dividend is Friday, August 7th. Norfolk Southern’s dividend payout ratio is currently 46.08%.
Norfolk Southern Company Profile
Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.
The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.
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