Norfolk Southern (NYSE:NSC) Earns “Equal Weight” Rating from Stephens

Stephens reiterated their equal weight rating on shares of Norfolk Southern (NYSE:NSC) in a research note published on Wednesday, Benzinga reports. Stephens currently has a $263.00 price target on the railroad operator’s stock.

A number of other equities analysts also recently commented on NSC. TD Cowen lifted their price objective on Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Bank of America lifted their price target on Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a report on Wednesday. Citigroup upped their price objective on shares of Norfolk Southern from $294.00 to $302.00 and gave the company a “buy” rating in a report on Tuesday. Sanford C. Bernstein lifted their target price 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. Finally, Jefferies Financial Group boosted their target price on shares of Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a report on Thursday, October 10th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company’s stock. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $274.16.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $251.09 on Wednesday. The company has a fifty day simple moving average of $249.01 and a 200-day simple moving average of $236.99. The firm has a market capitalization of $56.77 billion, a price-to-earnings ratio of 23.58, a PEG ratio of 2.48 and a beta of 1.31. The company has a quick ratio of 0.54, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. Norfolk Southern has a 52-week low of $183.76 and a 52-week high of $263.66.

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

Norfolk Southern Announces Dividend

The company 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 dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.15%. The ex-dividend date of this dividend is Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is 50.70%.

Insiders Place Their Bets

In related news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern 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 completion of the transaction, the chief executive officer now owns 35,045 shares in the company, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, Director Sameh Fahmy purchased 1,000 shares of Norfolk Southern stock in a transaction on Thursday, October 24th. The shares were bought at an average price of $255.00 per share, with a total value of $255,000.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $2,550,000. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction dated 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 directly owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have acquired 3,700 shares of company stock worth $921,565 over the last three months. Company insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently added to or reduced their stakes in the company. Lake Street Advisors Group LLC raised its holdings in shares of Norfolk Southern by 1.8% in the 3rd quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator’s stock valued at $563,000 after purchasing an additional 41 shares in the last quarter. Hall Capital Management Co. Inc. increased its holdings in Norfolk Southern by 2.8% in the second quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator’s stock valued at $325,000 after buying an additional 42 shares during the last quarter. Blue Chip Partners LLC raised its stake in Norfolk Southern by 0.5% in the second quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator’s stock valued at $1,656,000 after buying an additional 42 shares in the last quarter. Stephens Consulting LLC lifted its holdings in Norfolk Southern by 12.4% during the 2nd quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator’s stock worth $82,000 after buying an additional 42 shares during the last quarter. Finally, Foster Victor Wealth Advisors LLC boosted its position in shares of Norfolk Southern by 4.2% during the 3rd quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator’s stock worth $256,000 after acquiring an additional 42 shares in the last quarter. Hedge funds and other 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.