Wells Fargo & Company Lowers Norfolk Southern (NYSE:NSC) Price Target to $300.00

Norfolk Southern (NYSE:NSC) had its price target lowered by Wells Fargo & Company from $320.00 to $300.00 in a research report sent to investors on Tuesday,Benzinga reports. Wells Fargo & Company currently has an overweight rating on the railroad operator’s stock.

Other equities research analysts have also issued reports about the company. Benchmark increased their price target on Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Barclays increased their target price on shares of Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a report on Wednesday, November 13th. Stephens reaffirmed an “equal weight” rating and issued a $263.00 price objective on shares of Norfolk Southern in a research report on Wednesday, October 23rd. Jefferies Financial Group lifted their target price on shares of Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Finally, Susquehanna upped their target price on Norfolk Southern from $280.00 to $285.00 and gave the company a “neutral” rating in a report on Wednesday, October 23rd. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, Norfolk Southern has an average rating of “Moderate Buy” and a consensus price target of $276.74.

Norfolk Southern Stock Performance

NSC opened at $237.66 on Tuesday. The company has a market cap of $53.77 billion, a price-to-earnings ratio of 22.32, a PEG ratio of 2.34 and a beta of 1.34. The company’s fifty day moving average price is $254.19 and its two-hundred day moving average price is $245.42. Norfolk Southern has a 1-year low of $206.71 and a 1-year high of $277.60. The company has a current ratio of 0.73, a quick ratio of 0.65 and a debt-to-equity ratio of 1.21.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.14. The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same quarter last year, the firm earned $2.65 EPS. On average, analysts expect that Norfolk Southern will post 11.82 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Friday, November 1st were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.27%. Norfolk Southern’s payout ratio is 50.70%.

Insider Buying and Selling

In other news, Director Sameh Fahmy bought 350 shares of the firm’s stock in a transaction that occurred on Thursday, December 12th. The shares were acquired 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 position. The acquisition was disclosed in a legal filing with the SEC, which is available through this link. 0.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

Several institutional investors have recently made changes to their positions in the company. Mizuho Securities USA LLC increased its stake in Norfolk Southern by 18,831.2% in the 3rd quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock worth $819,553,000 after acquiring an additional 3,280,579 shares during the last quarter. Pathway Financial Advisers LLC increased its position in shares of Norfolk Southern by 25,181.8% in the third quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock worth $222,025,000 after purchasing an additional 889,925 shares during the last quarter. FMR LLC raised its stake in Norfolk Southern by 48.4% in the third quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock valued at $671,532,000 after purchasing an additional 881,415 shares in the last quarter. Hotchkis & Wiley Capital Management LLC bought a new stake in Norfolk Southern during the third quarter valued at approximately $207,830,000. Finally, American Century Companies Inc. grew its stake in Norfolk Southern by 17.3% in the 2nd quarter. American Century Companies Inc. now owns 3,356,590 shares of the railroad operator’s stock worth $720,626,000 after buying an additional 496,088 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.

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.