Norfolk Southern (NYSE:NSC) Price Target Raised to $245.00

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

Several other equities research analysts have also recently commented on NSC. Evercore ISI lifted their target price on Norfolk Southern from $265.00 to $276.00 and gave the company an outperform rating in a research note on Wednesday, September 25th. TD Cowen boosted their price objective on Norfolk Southern from $251.00 to $253.00 and gave the stock a hold rating in a report on Friday, July 26th. Wells Fargo & Company raised their price objective on shares of Norfolk Southern from $260.00 to $270.00 and gave the company an overweight rating in a research note on Friday, July 26th. Benchmark upped their price objective on Norfolk Southern from $266.00 to $270.00 and gave the company a buy rating in a report on Monday, July 29th. Finally, Jefferies Financial Group raised their target price on Norfolk Southern from $275.00 to $280.00 and gave the stock a buy rating in a report on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, Norfolk Southern has a consensus rating of Moderate Buy and a consensus target price of $266.17.

Norfolk Southern Stock Up 1.5 %

NYSE NSC opened at $253.84 on Friday. The stock’s 50 day simple moving average is $246.92 and its 200 day simple moving average is $236.66. Norfolk Southern has a one year low of $183.09 and a one year high of $263.66. The firm has a market cap of $57.35 billion, a PE ratio of 40.88, a price-to-earnings-growth ratio of 2.33 and a beta of 1.31. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.54.

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

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 2nd were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.13%. The ex-dividend date of this dividend was Friday, August 2nd. Norfolk Southern’s payout ratio is 86.96%.

Insider Transactions at Norfolk Southern

In related news, EVP Nabanita C. Nag sold 355 shares of Norfolk Southern stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $249.38, for a total transaction of $88,529.90. Following the completion of the sale, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In related news, Director Sameh Fahmy acquired 700 shares of the stock in a transaction on Thursday, August 1st. The shares were purchased at an average price of $245.15 per share, for a total transaction of $171,605.00. Following the purchase, the director now directly owns 7,700 shares in the company, valued at approximately $1,887,655. The trade was a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Nabanita C. Nag sold 355 shares of the company’s stock in a transaction dated Monday, July 29th. The stock was sold at an average price of $249.38, for a total transaction of $88,529.90. Following the sale, the executive vice president now directly owns 1,488 shares of the company’s stock, valued at $371,077.44. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

A number of hedge funds have recently added to or reduced their stakes in NSC. Cedar Wealth Management LLC bought a new stake in shares of Norfolk Southern during the 1st quarter valued at approximately $27,000. 1620 Investment Advisors Inc. bought a new position in shares of Norfolk Southern in the 2nd quarter valued at $27,000. Financial Connections Group Inc. acquired a new stake in shares of Norfolk Southern during the 2nd quarter valued at $31,000. HWG Holdings LP bought a new stake in Norfolk Southern during the 2nd quarter worth $31,000. Finally, Rise Advisors LLC bought a new stake in Norfolk Southern during the 1st quarter worth $34,000. 75.10% of the stock is owned by institutional investors.

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.