Midwest Professional Planners LTD. Has $1.73 Million Stock Position in Norfolk Southern Co. (NYSE:NSC)

Midwest Professional Planners LTD. lifted its stake in shares of Norfolk Southern Co. (NYSE:NSCGet Rating) by 1.7% during the fourth quarter, HoldingsChannel reports. The firm owned 5,823 shares of the railroad operator’s stock after acquiring an additional 95 shares during the quarter. Midwest Professional Planners LTD.’s holdings in Norfolk Southern were worth $1,734,000 as of its most recent SEC filing.

Other institutional investors also recently made changes to their positions in the company. Foster & Motley Inc. raised its stake in shares of Norfolk Southern by 2.9% during the 4th quarter. Foster & Motley Inc. now owns 1,377 shares of the railroad operator’s stock worth $410,000 after purchasing an additional 39 shares in the last quarter. Creative Planning raised its stake in shares of Norfolk Southern by 7.5% during the 3rd quarter. Creative Planning now owns 39,762 shares of the railroad operator’s stock worth $9,513,000 after purchasing an additional 2,767 shares in the last quarter. Plimoth Trust Co. LLC bought a new stake in shares of Norfolk Southern during the 4th quarter worth approximately $204,000. Pekin Hardy Strauss Inc. bought a new stake in shares of Norfolk Southern during the 3rd quarter worth approximately $237,000. Finally, Grandview Asset Management LLC bought a new stake in shares of Norfolk Southern during the 4th quarter worth approximately $1,201,000. Institutional investors own 73.63% of the company’s stock.

In other Norfolk Southern news, Director Steven F. Leer sold 700 shares of the stock in a transaction dated Monday, March 14th. The stock was sold at an average price of $265.51, for a total value of $185,857.00. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, President Alan H. Shaw sold 1,000 shares of the stock in a transaction dated Tuesday, March 1st. The shares were sold at an average price of $256.70, for a total value of $256,700.00. The disclosure for this sale can be found here. 0.31% of the stock is currently owned by company insiders.

NYSE:NSC traded up $3.26 during trading hours on Friday, hitting $249.32. The company’s stock had a trading volume of 1,116,431 shares, compared to its average volume of 1,423,140. The stock has a fifty day simple moving average of $265.24 and a 200-day simple moving average of $274.53. The company has a market capitalization of $59.42 billion, a P/E ratio of 20.12, a PEG ratio of 1.70 and a beta of 1.36. The company has a debt-to-equity ratio of 1.02, a current ratio of 0.96 and a quick ratio of 0.87. Norfolk Southern Co. has a twelve month low of $238.62 and a twelve month high of $299.20.

Norfolk Southern (NYSE:NSCGet Rating) last released its quarterly earnings data on Wednesday, April 27th. The railroad operator reported $2.93 earnings per share for the quarter, beating the consensus estimate of $2.91 by $0.02. The business had revenue of $2.92 billion for the quarter, compared to analyst estimates of $2.83 billion. Norfolk Southern had a return on equity of 21.95% and a net margin of 26.58%. Norfolk Southern’s revenue was up 10.5% compared to the same quarter last year. During the same period last year, the firm posted $2.66 earnings per share. On average, equities analysts predict that Norfolk Southern Co. will post 13.81 EPS for the current fiscal year.

Norfolk Southern declared that its Board of Directors has initiated a share buyback program on Tuesday, March 29th that authorizes the company to buyback $10.00 billion in shares. This buyback authorization authorizes the railroad operator to purchase up to 14.6% of its stock through open market purchases. Stock buyback programs are usually a sign that the company’s board of directors believes its shares are undervalued.

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, May 20th. Investors of record on Friday, May 6th will be paid a $1.24 dividend. This represents a $4.96 annualized dividend and a yield of 1.99%. The ex-dividend date of this dividend is Thursday, May 5th. Norfolk Southern’s dividend payout ratio (DPR) is presently 40.03%.

A number of research firms recently weighed in on NSC. StockNews.com began coverage on Norfolk Southern in a research note on Thursday, March 31st. They issued a “hold” rating on the stock. Royal Bank of Canada increased their price target on Norfolk Southern from $262.00 to $273.00 in a research note on Thursday, January 27th. Susquehanna dropped their price target on Norfolk Southern from $356.00 to $350.00 and set a “positive” rating on the stock in a research note on Thursday, April 7th. TD Securities increased their price target on Norfolk Southern from $300.00 to $305.00 and gave the company a “buy” rating in a research note on Thursday, April 28th. Finally, Zacks Investment Research upgraded Norfolk Southern from a “hold” rating to a “buy” rating and set a $299.00 price objective on the stock in a research report on Tuesday, March 29th. Two equities research analysts have rated the stock with a sell rating, five have assigned a hold rating and eleven have assigned a buy rating to the stock. Based on data from MarketBeat, Norfolk Southern currently has an average rating of “Buy” and an average price target of $309.41.

Norfolk Southern Company Profile (Get Rating)

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, scrap paper, beverages, canned goods, and consumer products; chemicals consist of sulfur and related chemicals, petroleum products, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, and sand; 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.

See Also

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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