Norfolk Southern (NYSE:NSC) Price Target Raised to $290.00

Norfolk Southern (NYSE:NSC) had its target price lifted by Barclays from $275.00 to $290.00 in a research report sent to investors on Wednesday, Benzinga reports. Barclays currently has an overweight rating on the railroad operator’s stock.

NSC has been the topic of a number of other reports. Benchmark raised their price target on Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday. Sanford C. Bernstein boosted their price target on shares of Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. Morgan Stanley reiterated an “underweight” rating and issued a $175.00 price target on shares of Norfolk Southern in a research report on Monday, July 8th. Susquehanna boosted their price target on shares of Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a research report on Wednesday. Finally, Royal Bank of Canada lifted their price target on Norfolk Southern from $267.00 to $272.00 and gave the stock an “outperform” rating in a research note on Monday, September 30th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $274.16.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $251.09 on Wednesday. The firm has a market capitalization of $56.77 billion, a PE ratio of 23.58, a P/E/G ratio of 2.48 and a beta of 1.31. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.54. Norfolk Southern has a 1-year low of $183.76 and a 1-year high of $263.66. The business’s fifty day moving average price is $249.01 and its two-hundred day moving average price is $236.99.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period last year, the company earned $2.65 earnings per share. On average, research analysts expect that Norfolk Southern will post 11.78 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be issued a $1.35 dividend. The ex-dividend date is Friday, November 1st. This represents a $5.40 annualized dividend and a yield of 2.15%. Norfolk Southern’s dividend payout ratio (DPR) is currently 50.70%.

Insider Buying and Selling

In related news, Director Sameh Fahmy bought 1,000 shares of Norfolk Southern stock in a transaction that occurred on Thursday, October 24th. The stock was purchased at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at $2,550,000. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other Norfolk Southern news, Director Sameh Fahmy purchased 1,000 shares of the business’s stock in a transaction dated Thursday, October 24th. The stock was bought at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the acquisition, the director now directly owns 10,000 shares in the company, valued at $2,550,000. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Alan H. Shaw sold 51,325 shares of the company’s stock in a transaction that occurred on Friday, September 13th. The stock was 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 owns 35,045 shares of the company’s stock, 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. In the last ninety days, insiders purchased 3,700 shares of company stock worth $921,565. 0.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently modified their holdings of NSC. Highline Wealth Partners LLC acquired a new position in shares of Norfolk Southern in the third quarter valued at $25,000. Cedar Wealth Management LLC bought a new stake in Norfolk Southern in the first quarter valued at $27,000. 1620 Investment Advisors Inc. bought a new stake in Norfolk Southern in the second quarter valued at $27,000. Financial Connections Group Inc. bought a new stake in Norfolk Southern in the second quarter valued at $31,000. Finally, HWG Holdings LP bought a new stake in Norfolk Southern in the second quarter valued at $31,000. 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.