Stifel Nicolaus Raises Norfolk Southern (NYSE:NSC) Price Target to $245.00

Norfolk Southern (NYSE:NSC) had its price objective lifted by Stifel Nicolaus from $241.00 to $245.00 in a research report released on Friday, Benzinga reports. The brokerage currently has a hold rating on the railroad operator’s stock.

A number of other research firms have also recently weighed in on NSC. Benchmark upped their target price on shares of Norfolk Southern from $266.00 to $270.00 and gave the company a buy rating in a research note on Monday, July 29th. Sanford C. Bernstein upped their price objective on shares of Norfolk Southern from $285.00 to $286.00 and gave the stock an outperform rating in a research note on Wednesday, October 9th. TD Cowen upped their price objective on shares of Norfolk Southern from $251.00 to $253.00 and gave the stock a hold rating in a research note on Friday, July 26th. Royal Bank of Canada upped their price objective on shares of Norfolk Southern from $267.00 to $272.00 and gave the stock an outperform rating in a research note on Monday, September 30th. Finally, Jefferies Financial Group upped their price objective on shares of Norfolk Southern from $275.00 to $280.00 and gave the stock a buy rating in a research note on Thursday. One equities research analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of Moderate Buy and an average target price of $266.17.

Norfolk Southern Stock Performance

NYSE NSC opened at $250.17 on Friday. The stock has a market cap of $56.52 billion, a P/E ratio of 40.29, a PEG ratio of 2.33 and a beta of 1.31. The company’s 50-day simple moving average is $246.64 and its 200 day simple moving average is $236.66. Norfolk Southern has a twelve month low of $183.09 and a twelve month high of $263.66. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.30.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share for the quarter, beating analysts’ consensus estimates of $2.86 by $0.20. The business had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.04 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The firm’s revenue for the quarter was up 2.1% on a year-over-year basis. During the same quarter in the previous year, the firm posted $2.95 earnings per share. As a group, research analysts forecast that Norfolk Southern will post 11.79 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd were given a dividend of $1.35 per share. The ex-dividend date was Friday, August 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.16%. Norfolk Southern’s payout ratio is 86.96%.

Insider Activity at Norfolk Southern

In related news, CEO Alan H. Shaw sold 51,325 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $255.98, for a total value of $13,138,173.50. Following the transaction, the chief executive officer now directly owns 35,045 shares in the company, valued at $8,970,819.10. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. In other Norfolk Southern news, Director Richard H. Anderson acquired 2,000 shares of the business’s stock in a transaction that occurred on Monday, July 29th. The shares were acquired at an average cost of $247.48 per share, for a total transaction of $494,960.00. Following the completion of the acquisition, the director now directly owns 3,000 shares of the company’s stock, valued at approximately $742,440. This represents a 200.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Alan H. Shaw sold 51,325 shares of the stock in a transaction on Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the completion of the sale, the chief executive officer now owns 35,045 shares in the company, valued at approximately $8,970,819.10. This trade represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by company insiders.

Institutional Investors Weigh In On Norfolk Southern

Several hedge funds have recently bought and sold shares of NSC. Cedar Wealth Management LLC acquired a new stake in Norfolk Southern in the first quarter worth $27,000. 1620 Investment Advisors Inc. acquired a new stake in Norfolk Southern in the second quarter worth $27,000. Financial Connections Group Inc. acquired a new stake in Norfolk Southern in the second quarter worth $31,000. HWG Holdings LP acquired a new stake in Norfolk Southern in the second quarter worth $31,000. Finally, Rise Advisors LLC bought a new stake in shares of Norfolk Southern during the first quarter worth $34,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

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.