Norfolk Southern (NYSE:NSC) Given New $290.00 Price Target at Barclays

Norfolk Southern (NYSE:NSC) had its price objective increased by Barclays from $275.00 to $290.00 in a research report sent to investors on Wednesday morning, Benzinga reports. Barclays currently has an overweight rating on the railroad operator’s stock.

NSC has been the topic of a number of other research reports. Morgan Stanley restated an “underweight” rating and set a $175.00 price target on shares of Norfolk Southern in a report on Monday, July 8th. Evercore ISI lifted their price target on Norfolk Southern from $265.00 to $276.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. Benchmark increased their price objective on Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a research note on Wednesday. Sanford C. Bernstein lifted their target price on Norfolk Southern from $285.00 to $286.00 and gave the company an “outperform” rating in a research note on Wednesday, October 9th. Finally, TD Cowen increased their price target on shares of Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and a consensus price target of $274.16.

Norfolk Southern Price Performance

Shares of Norfolk Southern stock opened at $256.98 on Wednesday. Norfolk Southern has a 52 week low of $183.09 and a 52 week high of $263.66. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30. The company’s 50-day moving average price is $248.76 and its two-hundred day moving average price is $236.88. The stock has a market cap of $58.06 billion, a PE ratio of 41.38, a price-to-earnings-growth ratio of 2.33 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last released its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The business’s revenue for the quarter was up 3.3% on a year-over-year basis. During the same period in the previous year, the firm earned $2.65 EPS. As a group, sell-side analysts anticipate that Norfolk Southern will post 11.79 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be given a dividend of $1.35 per share. The ex-dividend date of this dividend is Friday, November 1st. This represents a $5.40 annualized dividend and a dividend yield of 2.10%. Norfolk Southern’s dividend payout ratio (DPR) is currently 86.96%.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction that occurred on Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the sale, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other news, EVP Nabanita C. Nag sold 355 shares of the firm’s stock in a transaction on Monday, July 29th. The stock was sold at an average price of $249.38, for a total value of $88,529.90. Following the completion of the sale, the executive vice president now directly owns 1,488 shares in the company, valued at approximately $371,077.44. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, CEO Alan H. Shaw sold 51,325 shares of the company’s stock in a transaction dated Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the transaction, the chief executive officer now owns 35,045 shares in the company, valued at approximately $8,970,819.10. This trade represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by insiders.

Hedge Funds Weigh In On Norfolk Southern

A number of large investors have recently modified their holdings of NSC. Cedar Wealth Management LLC acquired a new position in Norfolk Southern during the 1st quarter worth $27,000. 1620 Investment Advisors Inc. acquired a new position in shares of Norfolk Southern during the second quarter valued at $27,000. Financial Connections Group Inc. acquired a new stake in Norfolk Southern in the second quarter worth about $31,000. HWG Holdings LP bought a new stake in Norfolk Southern during the 2nd quarter worth about $31,000. Finally, Hobbs Group Advisors LLC acquired a new position in Norfolk Southern during the 2nd quarter valued at about $34,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

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.