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

Meeder Advisory Services Inc. decreased its position in shares of Norfolk Southern Co. (NYSE:NSC) by 4.3% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 4,897 shares of the railroad operator’s stock after selling 222 shares during the quarter. Meeder Advisory Services Inc.’s holdings in Norfolk Southern were worth $1,217,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the company. Lake Street Advisors Group LLC grew its position in Norfolk Southern by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock worth $563,000 after purchasing an additional 41 shares during the last quarter. Hall Capital Management Co. Inc. grew its holdings in Norfolk Southern by 2.8% in the 2nd quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator’s stock worth $325,000 after buying an additional 42 shares in the last quarter. Blue Chip Partners LLC increased its position in Norfolk Southern by 0.5% in the 2nd quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock valued at $1,656,000 after acquiring an additional 42 shares during the period. Stephens Consulting LLC boosted its position in Norfolk Southern by 12.4% during the 2nd quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock worth $82,000 after acquiring an additional 42 shares during the period. Finally, Foster Victor Wealth Advisors LLC grew its stake in shares of Norfolk Southern by 4.2% in the third quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator’s stock worth $256,000 after purchasing an additional 42 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $262.22 on Tuesday. The company has a market cap of $59.32 billion, a P/E ratio of 24.62, a price-to-earnings-growth ratio of 2.48 and a beta of 1.30. The company’s fifty day moving average is $253.09 and its two-hundred day moving average is $239.10. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.14. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The firm had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. During the same period in the previous year, the firm earned $2.65 earnings per share. Norfolk Southern’s quarterly revenue was up 3.3% on a year-over-year basis. Equities analysts expect that Norfolk Southern Co. will post 11.82 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st will be paid a $1.35 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $5.40 annualized dividend and a yield of 2.06%. Norfolk Southern’s dividend payout ratio is presently 50.70%.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NSC shares. JPMorgan Chase & Co. upped their price objective on shares of Norfolk Southern from $283.00 to $288.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Jefferies Financial Group increased their price objective on shares of Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, October 10th. Citigroup boosted their target price on Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Susquehanna increased their price target on Norfolk Southern from $280.00 to $285.00 and gave the company a “neutral” rating in a research note on Wednesday, October 23rd. Finally, Royal Bank of Canada boosted their price objective on Norfolk Southern from $272.00 to $282.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $275.68.

Insiders Place Their Bets

In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $255.98, for a total value of $13,138,173.50. Following the completion of the sale, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. The trade was a 59.42 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Sameh Fahmy purchased 1,000 shares of the company’s stock in a transaction dated Thursday, October 24th. The shares were acquired at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $2,550,000. The trade was a 11.11 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 0.19% of the company’s stock.

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.