Norfolk Southern Co. (NYSE:NSC) Stock Position Trimmed by Meridian Investment Counsel Inc.

Meridian Investment Counsel Inc. decreased its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 0.3% in the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 21,073 shares of the railroad operator’s stock after selling 55 shares during the period. Norfolk Southern accounts for 1.5% of Meridian Investment Counsel Inc.’s portfolio, making the stock its 9th largest position. Meridian Investment Counsel Inc.’s holdings in Norfolk Southern were worth $4,946,000 as of its most recent filing with the SEC.

Several other large investors have also made changes to their positions in NSC. Principal Financial Group Inc. increased its holdings in Norfolk Southern by 3.6% in the 3rd quarter. Principal Financial Group Inc. now owns 255,200 shares of the railroad operator’s stock valued at $63,417,000 after purchasing an additional 8,844 shares in the last quarter. Caprock Group LLC purchased a new position in Norfolk Southern in the fourth quarter valued at about $1,796,000. Grandview Asset Management LLC acquired a new stake in Norfolk Southern during the 4th quarter valued at approximately $918,000. Dorsey & Whitney Trust CO LLC increased its holdings in Norfolk Southern by 2.3% during the 4th quarter. Dorsey & Whitney Trust CO LLC now owns 5,678 shares of the railroad operator’s stock worth $1,333,000 after purchasing an additional 128 shares during the last quarter. Finally, Clarendon Private LLC acquired a new position in shares of Norfolk Southern in the 4th quarter valued at approximately $309,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of analysts recently issued reports on NSC shares. Deutsche Bank Aktiengesellschaft began coverage on shares of Norfolk Southern in a research note on Friday, March 7th. They issued a “buy” rating and a $293.00 price target for the company. Wells Fargo & Company cut their target price on shares of Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating on the stock in a research note on Thursday. Robert W. Baird lifted their price target on Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a research note on Thursday, January 30th. JPMorgan Chase & Co. increased their target price on Norfolk Southern from $284.00 to $286.00 and gave the stock an “overweight” rating in a report on Thursday, January 30th. Finally, Susquehanna lowered their price target on Norfolk Southern from $265.00 to $260.00 and set a “neutral” rating for the company in a report on Thursday. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have given a buy rating to the company. According to data from MarketBeat, Norfolk Southern presently has an average rating of “Moderate Buy” and a consensus target price of $274.84.

Insider Activity at Norfolk Southern

In other news, Director Gilbert H. Lamphere purchased 607 shares of the stock in a transaction dated Friday, January 31st. The shares were bought at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the transaction, the director now owns 2,487 shares in the company, valued at $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Company insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $230.41 on Monday. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. The firm has a market capitalization of $52.17 billion, a price-to-earnings ratio of 19.93, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. The business has a 50 day simple moving average of $245.28 and a 200 day simple moving average of $249.05.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, beating analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. On average, equities research analysts anticipate that Norfolk Southern Co. will post 13 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Friday, February 7th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.34%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

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.