Norfolk Southern (NYSE:NSC) PT Raised to $285.00 at Benchmark

Norfolk Southern (NYSE:NSC) had its price objective increased by Benchmark from $270.00 to $285.00 in a report released on Wednesday morning, Benzinga reports. Benchmark currently has a buy rating on the railroad operator’s stock.

NSC has been the subject of several other research reports. Sanford C. Bernstein raised their price objective on shares of Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a research note on Wednesday, October 9th. Jefferies Financial Group increased their target price on Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Morgan Stanley reaffirmed an “underweight” rating and issued a $175.00 price target on shares of Norfolk Southern in a research note on Monday, July 8th. Susquehanna raised their target price on shares of Norfolk Southern from $255.00 to $280.00 and gave the stock a “neutral” rating in a research report on Wednesday, October 2nd. Finally, Wells Fargo & Company boosted their price target on Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a 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 issued a buy rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $274.16.

Norfolk Southern Stock Down 1.3 %

Shares of NYSE NSC opened at $256.98 on Wednesday. The stock has a market capitalization of $58.06 billion, a price-to-earnings ratio of 41.38, a P/E/G ratio of 2.33 and a beta of 1.31. Norfolk Southern has a 12-month low of $183.09 and a 12-month 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 firm’s 50-day moving average price is $248.76 and its 200-day moving average price is $236.88.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, beating 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 return on equity of 19.64% and a net margin of 14.85%. The company’s quarterly revenue was up 3.3% compared to the same quarter last year. During the same period in the prior year, the business posted $2.65 earnings per share. On average, equities research analysts anticipate that Norfolk Southern will post 11.79 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

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

Insider Activity

In related 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 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 sale was disclosed in a legal filing with the SEC, which is available at this link. In other Norfolk Southern news, CEO Alan H. Shaw sold 51,325 shares of the business’s stock in a transaction that occurred on Friday, September 13th. The stock was 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 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 sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, EVP Nabanita C. Nag sold 355 shares of the business’s stock in a transaction on Monday, July 29th. The shares were sold at an average price of $249.38, for a total transaction of $88,529.90. Following the completion of the transaction, the executive vice president now owns 1,488 shares of the company’s stock, valued at approximately $371,077.44. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Norfolk Southern

A number of hedge funds have recently made changes to their positions in the company. Cedar Wealth Management LLC purchased a new stake in shares of Norfolk Southern during the first quarter worth approximately $27,000. 1620 Investment Advisors Inc. acquired a new stake in Norfolk Southern during the 2nd quarter worth $27,000. Financial Connections Group Inc. purchased a new stake in shares of Norfolk Southern during the second quarter worth $31,000. HWG Holdings LP acquired a new stake in shares of Norfolk Southern in the second quarter valued at about $31,000. Finally, Hobbs Group Advisors LLC purchased a new position in shares of Norfolk Southern in the second quarter worth about $34,000. 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.