TD Cowen Raises Norfolk Southern (NYSE:NSC) Price Target to $259.00

Norfolk Southern (NYSE:NSC) had its price target upped by TD Cowen from $253.00 to $259.00 in a research note published on Wednesday, Benzinga reports. They currently have a hold rating on the railroad operator’s stock.

NSC has been the subject of several other research reports. Citigroup upped their price target on Norfolk Southern from $294.00 to $302.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Wells Fargo & Company boosted their price objective on Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a research report on Wednesday. Stephens reissued an “equal weight” rating and issued a $263.00 price objective on shares of Norfolk Southern in a research report on Wednesday. Morgan Stanley reissued an “underweight” rating and issued a $175.00 price objective on shares of Norfolk Southern in a research report on Monday, July 8th. Finally, Jefferies Financial Group boosted their price objective on Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. One investment 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.com, the company has an average rating of “Moderate Buy” and an average price target of $274.16.

Norfolk Southern Trading Down 0.9 %

Shares of NSC stock opened at $251.09 on Wednesday. The company has a market cap of $56.72 billion, a P/E ratio of 40.43, a PEG ratio of 2.48 and a beta of 1.31. The stock has a 50 day simple moving average of $249.22 and a two-hundred day simple moving average of $236.88. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.54 and a current ratio of 0.73. Norfolk Southern has a fifty-two week low of $183.76 and a fifty-two week high of $263.66.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, beating the consensus estimate of $3.11 by $0.14. The firm had revenue of $3.10 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same quarter in the previous year, the company posted $2.65 earnings per share. Research analysts forecast that Norfolk Southern will post 11.78 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently disclosed 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. The ex-dividend date of this dividend is Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a yield of 2.15%. Norfolk Southern’s dividend payout ratio (DPR) is 86.96%.

Insider Buying and Selling

In related news, EVP Nabanita C. Nag sold 355 shares of the 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 owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In related news, EVP Nabanita C. Nag sold 355 shares of the 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 owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. This represents a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Director Sameh Fahmy acquired 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The shares were bought at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following 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 position. The disclosure for this purchase can be found here. In the last quarter, insiders have purchased 3,700 shares of company stock valued at $921,565. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Norfolk Southern

A number of institutional investors have recently added to or reduced their stakes in NSC. Highline Wealth Partners LLC bought a new position in Norfolk Southern in the 3rd quarter worth about $25,000. Cedar Wealth Management LLC bought a new position in Norfolk Southern in the 1st quarter worth about $27,000. 1620 Investment Advisors Inc. bought a new position in Norfolk Southern in the 2nd quarter worth about $27,000. Financial Connections Group Inc. bought a new position in Norfolk Southern in the 2nd quarter worth about $31,000. Finally, HWG Holdings LP bought a new position in Norfolk Southern in the 2nd quarter worth about $31,000. 75.10% of the stock is currently 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.