**Meeder Asset Management Inc.
This significant reduction in holdings suggests a potential shift in the investment strategy of Meeder Asset Management Inc., indicating a possible change in the company’s outlook on the future of the railroad industry. The decline in Meeder Asset Management Inc.’s stake in Norfolk Southern Co. is noteworthy because it follows a trend of declining investor confidence in the railroad industry.
Get Norfolk Southern alerts: Norfolk Southern Stock Down 3.5 % Shares of Norfolk Southern stock opened at $245.80 on Friday. The business’s fifty day moving average price is $240.36 and its two-hundred day moving average price is $238.22. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.54. The company has a market capitalization of $55.58 billion, a P/E ratio of 39.58, a PEG ratio of 2.48 and a beta of 1.31. Norfolk Southern Co. has a 1-year low of $183.09 and a 1-year high of $263.66. Norfolk Southern Announces Dividend
The company reported a net income of $1.2 billion for the second quarter of 2023, exceeding analysts’ expectations. This strong performance was driven by a number of factors, including a surge in coal demand, a robust freight market, and cost-cutting measures. Norfolk Southern’s strong performance in the second quarter of 2023 was a significant improvement over the previous year.
The firm also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend was Friday, August 2nd. Norfolk Southern’s payout ratio is currently 86.96%. Wall Street Analyst Weigh In A number of equities research analysts have weighed in on NSC shares. Susquehanna raised their price objective on Norfolk Southern from $245.00 to $255.00 and gave the company a “neutral” rating in a research note on Friday, July 26th. Wells Fargo & Company lifted their target price on Norfolk Southern from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. Royal Bank of Canada decreased their target price on Norfolk Southern from $270.00 to $267.00 and set an “outperform” rating for the company in a research report on Friday, July 26th. TD Cowen lifted their target price on Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Finally, Stifel Nicolaus lifted their target price on Norfolk Southern from $239.00 to $241.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, Norfolk Southern currently has a consensus rating of “Moderate Buy” and an average price target of $264.24.
* Norfolk Southern Corporation (NSC) is a major railroad company in the United States. * The company’s stock has been performing well recently, with a significant increase in price. * Insider selling has been observed, with several executives selling their shares. * This raises concerns about the sustainability of the stock’s recent gains.
* **Norfolk Southern: The Rail Giant**
* **Dominating the U.S.
The company operates a vast network of rail lines spanning across 22 states, connecting major industrial centers and ports. **Key Highlights:**
* **Dominant Market Share:** Norfolk Southern holds the largest market share in the U.S. rail transportation industry, with a significant advantage over its competitors.
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