Norfolk Southern (NYSE:NSC) Price Target Raised to $316.00

Norfolk Southern (NYSE:NSC) had its price objective hoisted by Citigroup from $302.00 to $316.00 in a report released on Tuesday,Benzinga reports. The firm currently has a buy rating on the railroad operator’s stock.

Several other equities research analysts have also recently issued reports on the stock. Jefferies Financial Group raised their target price on shares of Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a report on Thursday, October 10th. Stifel Nicolaus raised their price target on Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research note on Friday, October 11th. JPMorgan Chase & Co. upped their price objective on Norfolk Southern from $283.00 to $288.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. Wells Fargo & Company boosted their price target on Norfolk Southern from $270.00 to $280.00 and gave the company an “overweight” rating in a research note on Wednesday, October 23rd. Finally, TD Cowen raised their price objective on shares of Norfolk Southern from $253.00 to $259.00 and gave the stock a “hold” rating in a report on Wednesday, October 23rd. 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’s stock. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $275.68.

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $264.76 on Tuesday. The stock’s 50 day moving average is $252.52 and its 200 day moving average is $238.46. The company has a market capitalization of $59.90 billion, a P/E ratio of 24.86, a PEG ratio of 2.55 and a beta of 1.30. Norfolk Southern has a twelve month low of $204.90 and a twelve month high of $277.60. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, topping 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 firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. During the same quarter in the prior year, the firm posted $2.65 earnings per share. The business’s revenue was up 3.3% on a year-over-year basis. On average, equities research analysts predict that Norfolk Southern will post 11.82 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm 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 $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.04%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s dividend payout ratio is presently 50.70%.

Insider Buying and Selling at Norfolk Southern

In related news, Director Sameh Fahmy bought 1,000 shares of the firm’s 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 completion of the acquisition, the director now owns 10,000 shares in the company, valued at approximately $2,550,000. This trade represents a 11.11 % increase in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction dated 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 of the company’s stock, valued at $8,970,819.10. The trade was a 59.42 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Institutional Trading of Norfolk Southern

Several institutional investors and hedge funds have recently made changes to their positions in the company. Benjamin Edwards Inc. acquired a new stake in Norfolk Southern during the 3rd quarter worth $1,346,000. Royal Capital Wealth Management LLC acquired a new position in shares of Norfolk Southern in the third quarter valued at approximately $228,000. FSA Wealth Management LLC purchased a new stake in shares of Norfolk Southern during the third quarter worth approximately $94,000. B&L Asset Management LLC acquired a new stake in shares of Norfolk Southern during the third quarter worth $395,000. Finally, Plotkin Financial Advisors LLC acquired a new stake in shares of Norfolk Southern in the 3rd quarter worth $206,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

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.