Wells Fargo & Company Trims Norfolk Southern (NYSE:NSC) Target Price to $260.00

Norfolk Southern (NYSE:NSC) had its price objective cut by Wells Fargo & Company from $270.00 to $260.00 in a research note published on Tuesday, Marketbeat.com reports. They currently have an overweight rating on the railroad operator’s stock.

Several other research firms have also issued reports on NSC. Loop Capital increased their price objective on Norfolk Southern from $261.00 to $270.00 and gave the stock a buy rating in a research note on Thursday, April 18th. Barclays decreased their price objective on shares of Norfolk Southern from $305.00 to $275.00 and set an overweight rating on the stock in a research note on Monday, May 13th. The Goldman Sachs Group boosted their target price on Norfolk Southern from $252.00 to $283.00 and gave the stock a buy rating in a report on Thursday, March 21st. TD Cowen raised their price target on Norfolk Southern from $236.00 to $253.00 and gave the company a market perform rating in a report on Thursday, March 21st. Finally, Susquehanna reduced their price objective on Norfolk Southern from $265.00 to $245.00 and set a neutral rating on the stock in a research note on Tuesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of Moderate Buy and an average price target of $262.89.

Norfolk Southern Trading Down 1.2 %

Shares of Norfolk Southern stock opened at $209.90 on Tuesday. Norfolk Southern has a 52-week low of $183.09 and a 52-week high of $263.66. The firm has a market capitalization of $47.42 billion, a PE ratio of 33.73, a price-to-earnings-growth ratio of 2.01 and a beta of 1.31. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.68 and a quick ratio of 0.61. The company’s fifty day moving average price is $228.23 and its two-hundred day moving average price is $239.07.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.49 EPS for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.09). Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.05 billion. During the same quarter in the prior year, the business earned $3.32 EPS. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. On average, analysts expect that Norfolk Southern will post 11.88 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Monday, May 20th. Shareholders of record on Friday, May 3rd were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.57%. The ex-dividend date was Thursday, May 2nd. Norfolk Southern’s payout ratio is 86.96%.

Insiders Place Their Bets

In other news, Director Sameh Fahmy purchased 2,000 shares of the business’s stock in a transaction that occurred on Friday, June 14th. The shares were acquired at an average cost of $219.25 per share, for a total transaction of $438,500.00. Following the transaction, the director now directly owns 7,000 shares of the company’s stock, valued at approximately $1,534,750. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. In other news, Director Sameh Fahmy bought 2,000 shares of the stock in a transaction on Friday, June 14th. The stock was purchased at an average price of $219.25 per share, with a total value of $438,500.00. Following the completion of the purchase, the director now owns 7,000 shares of the company’s stock, valued at $1,534,750. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, Director Claude Mongeau purchased 5,650 shares of Norfolk Southern stock in a transaction dated Wednesday, May 29th. The shares were purchased at an average cost of $221.00 per share, for a total transaction of $1,248,650.00. Following the completion of the transaction, the director now owns 20,000 shares of the company’s stock, valued at $4,420,000. The disclosure for this purchase can be found here. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Norfolk Southern

Hedge funds have recently modified their holdings of the business. Cedar Wealth Management LLC acquired a new stake in Norfolk Southern during the 1st quarter worth approximately $27,000. Exchange Traded Concepts LLC lifted its position in Norfolk Southern by 662.5% in the 4th quarter. Exchange Traded Concepts LLC now owns 122 shares of the railroad operator’s stock valued at $29,000 after acquiring an additional 106 shares in the last quarter. Operose Advisors LLC acquired a new position in Norfolk Southern in the 3rd quarter worth $32,000. Orion Capital Management LLC bought a new position in Norfolk Southern during the 3rd quarter worth about $32,000. Finally, Turtle Creek Wealth Advisors LLC acquired a new stake in shares of Norfolk Southern in the 4th quarter valued at about $32,000. Institutional investors and hedge funds 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.