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

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

NSC has been the topic of a number of other reports. Morgan Stanley restated an “underweight” rating and issued a $175.00 price target on shares of Norfolk Southern in a research note on Monday, July 8th. Citigroup boosted their price objective on shares of Norfolk Southern from $294.00 to $302.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Jefferies Financial Group boosted their price target on Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Evercore ISI upped their price target on shares of Norfolk Southern from $265.00 to $276.00 and gave the company an “outperform” rating in a report on Wednesday, September 25th. Finally, Wells Fargo & Company lifted their price objective on Norfolk Southern from $260.00 to $270.00 and gave the stock an “overweight” rating in a research report on Friday, July 26th. One equities research 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 data from MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $274.16.

Norfolk Southern Stock Down 0.9 %

Norfolk Southern stock opened at $251.09 on Wednesday. Norfolk Southern has a twelve month low of $183.76 and a twelve month high of $263.66. The company has a current ratio of 0.73, a quick ratio of 0.54 and a debt-to-equity ratio of 1.21. The stock has a 50 day moving average of $249.22 and a two-hundred day moving average of $236.88. The stock has a market capitalization of $56.72 billion, a price-to-earnings ratio of 40.43, a PEG ratio of 2.48 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 the consensus estimate of $3.11 by $0.14. The company had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The business’s revenue was up 3.3% on a year-over-year basis. During the same quarter last year, the business earned $2.65 EPS. As a group, research analysts expect that Norfolk Southern will post 11.78 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be paid a $1.35 dividend. The ex-dividend date of this dividend is Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.15%. Norfolk Southern’s dividend payout ratio (DPR) is currently 86.96%.

Insider Buying and Selling

In other news, Director Sameh Fahmy bought 1,000 shares of the firm’s stock in a transaction dated Thursday, October 24th. The stock was acquired at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the completion of the purchase, the director now owns 10,000 shares of the company’s stock, valued at $2,550,000. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other Norfolk Southern news, Director Sameh Fahmy bought 1,000 shares of Norfolk Southern stock in a transaction dated Thursday, October 24th. The stock was bought at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the purchase, the director now owns 10,000 shares in the company, valued at $2,550,000. This represents a 0.00 % increase in their position. The purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, Director Richard H. Anderson purchased 2,000 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The stock was bought at an average price of $247.48 per share, with a total value of $494,960.00. Following the purchase, the director now owns 3,000 shares of the company’s stock, valued at approximately $742,440. The trade was a 200.00 % increase in their position. The disclosure for this purchase can be found here. In the last ninety days, insiders have purchased 3,700 shares of company stock valued at $921,565. Corporate insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently made changes to their positions in the company. Highline Wealth Partners LLC acquired a new position in Norfolk Southern in the third quarter worth $25,000. Cedar Wealth Management LLC acquired a new position in shares of Norfolk Southern in the 1st quarter valued at about $27,000. 1620 Investment Advisors Inc. acquired a new stake in Norfolk Southern during the second quarter worth about $27,000. Financial Connections Group Inc. bought a new position in Norfolk Southern in the second quarter worth about $31,000. Finally, HWG Holdings LP bought a new position in shares of Norfolk Southern during the second quarter valued at approximately $31,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

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.