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

Norfolk Southern (NYSE:NSC) had its price objective boosted by TD Cowen from $253.00 to $259.00 in a research note issued to investors on Wednesday morning, Benzinga reports. TD Cowen currently has a hold rating on the railroad operator’s stock.

A number of other equities research analysts have also weighed in on NSC. Royal Bank of Canada raised their price target on shares of Norfolk Southern from $267.00 to $272.00 and gave the company an “outperform” rating in a report on Monday, September 30th. Stifel Nicolaus lifted their target price on Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research report on Friday, October 11th. Stephens reissued an “equal weight” rating and issued a $263.00 price target on shares of Norfolk Southern in a report on Wednesday. Susquehanna lifted their price objective on Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a report on Wednesday. Finally, UBS Group raised their price target on shares of Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average target price of $274.16.

Norfolk Southern Stock Performance

NYSE:NSC opened at $256.98 on Wednesday. The company has a market cap of $58.06 billion, a P/E ratio of 41.38, a P/E/G ratio of 2.33 and a beta of 1.31. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.30. The firm’s 50 day moving average is $248.76 and its two-hundred day moving average is $236.88. Norfolk Southern has a fifty-two week low of $183.09 and a fifty-two week high of $263.66.

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

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be paid a $1.35 dividend. The ex-dividend date is Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a yield of 2.10%. Norfolk Southern’s dividend payout ratio is currently 86.96%.

Insider Transactions at Norfolk Southern

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

Institutional Inflows and Outflows

Several hedge funds have recently modified their holdings of the business. Mirae Asset Global Investments Co. Ltd. raised its holdings in Norfolk Southern by 20.5% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 14,428 shares of the railroad operator’s stock valued at $3,556,000 after buying an additional 2,453 shares in the last quarter. BKM Wealth Management LLC grew its stake in Norfolk Southern by 6.7% in the 3rd quarter. BKM Wealth Management LLC now owns 6,894 shares of the railroad operator’s stock valued at $1,713,000 after buying an additional 431 shares during the last quarter. Allworth Financial LP raised its holdings in Norfolk Southern by 15.3% in the 3rd quarter. Allworth Financial LP now owns 9,696 shares of the railroad operator’s stock worth $2,410,000 after acquiring an additional 1,287 shares during the period. Elwood & Goetz Wealth Advisory Group LLC acquired a new position in Norfolk Southern during the 3rd quarter worth $432,000. Finally, Sigma Investment Counselors Inc. bought a new stake in Norfolk Southern during the third quarter valued at about $205,000. Institutional investors and hedge funds 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.