Citigroup Lowers Norfolk Southern (NYSE:NSC) Price Target to $259.00

Norfolk Southern (NYSE:NSC) had its target price decreased by Citigroup from $298.00 to $259.00 in a report released on Tuesday morning,Benzinga reports. Citigroup currently has a buy rating on the railroad operator’s stock.

Other equities analysts have also issued research reports about the stock. UBS Group dropped their target price on shares of Norfolk Southern from $305.00 to $284.00 and set a “buy” rating for the company in a research report on Wednesday, April 2nd. Deutsche Bank Aktiengesellschaft began coverage on shares of Norfolk Southern in a report on Friday, March 7th. They set a “buy” rating and a $293.00 price objective for the company. Stephens lifted their target price on Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a report on Thursday, January 30th. Wells Fargo & Company dropped their price target on Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Finally, Bank of America reduced their price objective on Norfolk Southern from $292.00 to $272.00 and set a “buy” rating on the stock in a research note on Tuesday, March 25th. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average price target of $269.74.

Norfolk Southern Trading Down 1.1 %

Shares of NSC stock opened at $205.85 on Tuesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. The stock has a fifty day simple moving average of $239.97 and a two-hundred day simple moving average of $247.45. The firm has a market capitalization of $50.75 billion, a PE ratio of 17.81, a PEG ratio of 2.31 and a beta of 1.30. Norfolk Southern has a 52-week low of $201.63 and a 52-week high of $277.60.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. On average, analysts predict that Norfolk Southern will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.62%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s payout ratio is currently 46.71%.

Insider Buying and Selling at Norfolk Southern

In related news, Director Gilbert H. Lamphere bought 607 shares of the stock in a transaction dated Friday, January 31st. The stock was purchased at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of the purchase, the director now owns 2,487 shares of the company’s stock, valued at $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Norfolk Southern

Institutional investors and hedge funds have recently added to or reduced their stakes in the stock. United Bank raised its stake in shares of Norfolk Southern by 2.4% during the third quarter. United Bank now owns 8,875 shares of the railroad operator’s stock valued at $2,205,000 after acquiring an additional 204 shares in the last quarter. Morse Asset Management Inc purchased a new position in Norfolk Southern during the 3rd quarter worth $30,000. Quantinno Capital Management LP raised its position in Norfolk Southern by 69.3% during the 3rd quarter. Quantinno Capital Management LP now owns 9,843 shares of the railroad operator’s stock valued at $2,446,000 after purchasing an additional 4,030 shares in the last quarter. Wellington Management Group LLP lifted its holdings in shares of Norfolk Southern by 27.9% in the 3rd quarter. Wellington Management Group LLP now owns 23,062 shares of the railroad operator’s stock worth $5,731,000 after buying an additional 5,032 shares during the period. Finally, EP Wealth Advisors LLC grew its position in shares of Norfolk Southern by 41.7% during the 3rd quarter. EP Wealth Advisors LLC now owns 7,631 shares of the railroad operator’s stock worth $1,896,000 after buying an additional 2,247 shares in the last quarter. 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.