Meridian Investment Counsel Inc. Has $4.95 Million Stock Position in Norfolk Southern Co. (NYSE:NSC)

Meridian Investment Counsel Inc. cut its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 0.3% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 21,073 shares of the railroad operator’s stock after selling 55 shares during the period. Norfolk Southern makes up about 1.5% of Meridian Investment Counsel Inc.’s holdings, making the stock its 9th biggest position. Meridian Investment Counsel Inc.’s holdings in Norfolk Southern were worth $4,946,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of the stock. Financial Life Planners acquired a new stake in Norfolk Southern during the 4th quarter valued at $27,000. Keystone Financial Group Inc. acquired a new position in Norfolk Southern during the fourth quarter valued at $27,000. Bank of Jackson Hole Trust purchased a new stake in Norfolk Southern in the 4th quarter worth about $27,000. Morse Asset Management Inc acquired a new stake in Norfolk Southern during the 3rd quarter worth about $30,000. Finally, Vision Financial Markets LLC purchased a new position in Norfolk Southern during the 4th quarter valued at about $28,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Norfolk Southern

In other news, Director Gilbert H. Lamphere bought 607 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were acquired at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of the transaction, the director now directly owns 2,487 shares in the company, valued at $646,271.82. This represents a 32.29 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

NSC has been the subject of a number of research analyst reports. Loop Capital lowered shares of Norfolk Southern from a “buy” rating to a “hold” rating and reduced their price target for the stock from $289.00 to $256.00 in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Norfolk Southern in a research report on Friday, March 7th. They issued a “buy” rating and a $293.00 target price for the company. Stephens boosted their price target on shares of Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Robert W. Baird increased their price objective on Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Finally, Susquehanna lowered their target price on Norfolk Southern from $265.00 to $260.00 and set a “neutral” rating on the stock in a research note on Thursday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company. According to MarketBeat, Norfolk Southern presently has an average rating of “Moderate Buy” and an average price target of $274.84.

Norfolk Southern Stock Performance

Shares of NSC opened at $230.41 on Monday. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. Norfolk Southern Co. has a one year low of $206.71 and a one year high of $277.60. The company’s fifty day moving average price is $245.28 and its 200 day moving average price is $249.05. The company has a market capitalization of $52.17 billion, a PE ratio of 19.93, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last released its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (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%. As a group, analysts expect that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.34%. The ex-dividend date of this dividend 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.