Merit Financial Group LLC Has $2.11 Million Position in Norfolk Southern Co. (NYSE:NSC)

Merit Financial Group LLC grew its holdings in Norfolk Southern Co. (NYSE:NSC) by 21.6% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The fund owned 8,982 shares of the railroad operator’s stock after purchasing an additional 1,593 shares during the quarter. Merit Financial Group LLC’s holdings in Norfolk Southern were worth $2,108,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors also recently made changes to their positions in NSC. Highline Wealth Partners LLC acquired a new stake in shares of Norfolk Southern in the third quarter valued at about $25,000. Morse Asset Management Inc acquired a new stake in Norfolk Southern during the third quarter worth about $30,000. HWG Holdings LP acquired a new stake in Norfolk Southern during the second quarter worth about $31,000. Coastline Trust Co acquired a new stake in Norfolk Southern during the third quarter worth about $32,000. Finally, Capital Performance Advisors LLP acquired a new stake in Norfolk Southern during the third quarter worth about $33,000. 75.10% of the stock is owned by institutional investors and hedge funds.

Norfolk Southern Stock Performance

NSC stock opened at $245.39 on Tuesday. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. The company has a 50 day moving average price of $251.08 and a 200 day moving average price of $246.84. Norfolk Southern Co. has a fifty-two week low of $206.71 and a fifty-two week high of $277.60. The stock has a market capitalization of $55.52 billion, a PE ratio of 23.04, a price-to-earnings-growth ratio of 2.11 and a beta of 1.34.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, topping the consensus estimate of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter in the previous year, the company posted $2.65 EPS. Norfolk Southern’s revenue was up 3.3% on a year-over-year basis. Analysts forecast that Norfolk Southern Co. will post 11.79 EPS for the current year.

Insiders Place Their Bets

In other Norfolk Southern news, Director Sameh Fahmy bought 350 shares of the stock in a transaction on Thursday, December 12th. The stock was purchased at an average price of $249.37 per share, with a total value of $87,279.50. Following the acquisition, the director now owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. The trade was a 3.50 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 0.19% of the company’s stock.

Wall Street Analysts Forecast Growth

NSC has been the topic of a number of recent research reports. Loop Capital lifted their target price on Norfolk Southern from $285.00 to $287.00 and gave the stock a “buy” rating in a research report on Wednesday, October 23rd. Sanford C. Bernstein lifted their target price on Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Citigroup lifted their target price on Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Stephens reaffirmed an “equal weight” rating and set a $263.00 price objective on shares of Norfolk Southern in a report on Wednesday, October 23rd. Finally, Royal Bank of Canada lifted their price objective on Norfolk Southern from $272.00 to $282.00 and gave the company an “outperform” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus target price of $275.68.

About Norfolk Southern

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.