Meeder Asset Management Inc. Purchases 2,275 Shares of Norfolk Southern Co. (NYSE:NSC)

Meeder Asset Management Inc. grew its position in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 54.7% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 6,435 shares of the railroad operator's stock after acquiring an additional 2,275 shares during the quarter. Meeder Asset Management Inc.'s holdings in Norfolk Southern were worth $1,599,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Highline Wealth Partners LLC bought a new position in shares of Norfolk Southern in the third quarter valued at $25,000. 1620 Investment Advisors Inc. acquired a new position in Norfolk Southern during the 2nd quarter valued at about $27,000. Financial Connections Group Inc. bought a new stake in Norfolk Southern during the 2nd quarter worth approximately $31,000. HWG Holdings LP purchased a new stake in shares of Norfolk Southern in the second quarter worth approximately $31,000. Finally, Coastline Trust Co purchased a new position in shares of Norfolk Southern during the third quarter valued at approximately $32,000. Institutional investors own 75.10% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NSC. JPMorgan Chase & Co. boosted their price target 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. Stifel Nicolaus upped their target price on Norfolk Southern from $241.00 to $245.00 and gave the company a "hold" rating in a report on Friday, October 11th. Stephens reaffirmed an "equal weight" rating and set a $263.00 price target on shares of Norfolk Southern in a research report on Wednesday, October 23rd. Wells Fargo & Company boosted their price objective on Norfolk Southern from $270.00 to $280.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Finally, TD Cowen raised their target price on Norfolk Southern from $253.00 to $259.00 and gave the company a "hold" rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given 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 $275.68.

Insider Transactions at Norfolk Southern

In related news, Director Sameh Fahmy bought 1,000 shares of the stock in a transaction dated Thursday, October 24th. The stock was bought at an average price of $255.00 per share, with a total value of $255,000.00. Following the purchase, the director now owns 10,000 shares in the company, valued at approximately $2,550,000. The trade was a 11.11 % increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Alan H. Shaw sold 51,325 shares of the firm's stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $255.98, for a total value of $13,138,173.50. Following the transaction, the chief executive officer now owns 35,045 shares in the company, valued at approximately $8,970,819.10. The trade was a 59.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 0.19% of the company's stock.

Norfolk Southern Price Performance

Norfolk Southern stock traded down $2.51 during midday trading on Tuesday, hitting $259.71. 949,663 shares of the company's stock were exchanged, compared to its average volume of 1,252,794. The stock has a 50-day moving average price of $253.14 and a two-hundred day moving average price of $239.27. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60. The company has a market cap of $58.76 billion, a P/E ratio of 24.39, a PEG ratio of 2.48 and a beta of 1.30. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.65 and a current ratio of 0.73.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating analysts' consensus estimates of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same period last year, the firm posted $2.65 earnings per share. Norfolk Southern's quarterly revenue was up 3.3% on a year-over-year basis. On average, equities research analysts forecast that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be issued a dividend of $1.35 per share. The ex-dividend date is Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.08%. Norfolk Southern's dividend payout ratio is 50.70%.

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.