Meeder Asset Management Inc. cut its position in shares of Norfolk Southern Corp. (NYSE:NSC) by 2.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 48,612 shares of the railroad operator’s stock after selling 1,184 shares during the quarter. Meeder Asset Management Inc.’s holdings in Norfolk Southern were worth $8,734,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of NSC. Krane Funds Advisors LLC bought a new position in Norfolk Southern during the second quarter worth $26,000. Weaver Consulting Group bought a new position in Norfolk Southern during the first quarter worth $30,000. Prestige Wealth Management Group LLC bought a new position in Norfolk Southern during the second quarter worth $35,000. Vigilant Capital Management LLC bought a new position in Norfolk Southern during the third quarter worth $36,000. Finally, AGF Investments LLC boosted its stake in Norfolk Southern by 173.5% during the second quarter. AGF Investments LLC now owns 186 shares of the railroad operator’s stock worth $37,000 after acquiring an additional 118 shares in the last quarter. Institutional investors own 72.28% of the company’s stock.
In other Norfolk Southern news, Director Jennifer F. Scanlon acquired 525 shares of the company’s stock in a transaction on Monday, July 29th. The shares were purchased at an average cost of $191.52 per share, with a total value of $100,548.00. Following the completion of the purchase, the director now owns 525 shares of the company’s stock, valued at $100,548. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by company insiders.
Several research analysts recently issued reports on NSC shares. Goldman Sachs Group started coverage on shares of Norfolk Southern in a research note on Wednesday, July 10th. They set a “buy” rating and a $237.00 target price on the stock. ValuEngine lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Cascend Securities lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating in a research note on Wednesday, July 17th. Zacks Investment Research raised shares of Norfolk Southern from a “sell” rating to a “hold” rating and set a $182.00 target price on the stock in a research note on Friday, October 11th. Finally, Bank of America cut their target price on shares of Norfolk Southern from $212.00 to $198.00 and set a “buy” rating on the stock in a research note on Tuesday, October 8th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have assigned a buy rating to the stock. The stock currently has a consensus rating of “Hold” and an average price target of $203.78.
Shares of Norfolk Southern stock traded up $2.75 during trading hours on Thursday, reaching $183.88. The company’s stock had a trading volume of 1,216,499 shares, compared to its average volume of 1,564,470. Norfolk Southern Corp. has a one year low of $138.65 and a one year high of $211.46. The company has a market capitalization of $47.03 billion, a P/E ratio of 19.34, a P/E/G ratio of 1.62 and a beta of 1.36. The stock’s fifty day simple moving average is $176.95 and its two-hundred day simple moving average is $189.89. The company has a debt-to-equity ratio of 0.72, a quick ratio of 0.68 and a current ratio of 0.78.
Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Wednesday, July 24th. The railroad operator reported $2.70 earnings per share for the quarter, missing analysts’ consensus estimates of $2.77 by ($0.07). Norfolk Southern had a net margin of 24.15% and a return on equity of 18.24%. The business had revenue of $2.93 billion during the quarter, compared to the consensus estimate of $2.95 billion. During the same period last year, the business posted $2.50 earnings per share. The firm’s quarterly revenue was up .9% on a year-over-year basis. As a group, research analysts forecast that Norfolk Southern Corp. will post 10.35 earnings per share for the current year.
About Norfolk Southern
Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods. The company transports industrial products, including chemicals, agriculture, and metals and construction materials; and coal, automobiles, and automotive parts.
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