Norfolk Southern (NYSE:NSC) Downgraded to Hold Rating by Loop Capital

Loop Capital downgraded shares of Norfolk Southern (NYSE:NSC) from a buy rating to a hold rating in a research note released on Monday morning, MarketBeat reports. Loop Capital currently has $256.00 target price on the railroad operator’s stock, down from their previous target price of $289.00.

Several other equities research analysts have also issued reports on NSC. UBS Group lifted their price target on Norfolk Southern from $289.00 to $309.00 and gave the stock a “buy” rating in a research note on Wednesday, October 23rd. Benchmark reaffirmed a “buy” rating and issued a $285.00 target price on shares of Norfolk Southern in a research note on Thursday, January 30th. Evercore ISI decreased their price target on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating on the stock in a research note on Wednesday, October 23rd. Robert W. Baird upped their price objective on shares of Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a research note on Thursday, January 30th. Finally, Sanford C. Bernstein lifted their target price on shares of Norfolk Southern from $285.00 to $286.00 and gave the stock an “outperform” rating in a research report on Wednesday, October 9th. One investment analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the stock. According to MarketBeat, Norfolk Southern has an average rating of “Moderate Buy” and a consensus target price of $276.11.

Norfolk Southern Stock Down 0.1 %

NSC stock opened at $252.66 on Monday. The company’s 50 day moving average is $247.98 and its 200 day moving average is $249.47. The stock has a market cap of $57.16 billion, a price-to-earnings ratio of 21.86, a price-to-earnings-growth ratio of 2.35 and a beta of 1.35. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. Norfolk Southern has a 1-year low of $206.71 and a 1-year high of $277.60.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, topping analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. Sell-side analysts predict that Norfolk Southern will post 13.07 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 20th. Shareholders of record on Friday, February 7th will be issued a $1.35 dividend. The ex-dividend date is Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.14%. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

Insider Transactions at Norfolk Southern

In other news, Director Sameh Fahmy bought 350 shares of the firm’s stock in a transaction dated Thursday, December 12th. The stock was purchased at an average price of $249.37 per share, with a total value of $87,279.50. Following the transaction, the director now owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. The trade was a 3.50 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Gilbert H. Lamphere purchased 607 shares of the company’s stock in a transaction that occurred on Friday, January 31st. The shares were purchased at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the transaction, the director now directly owns 2,487 shares of the company’s stock, valued at $646,271.82. This represents a 32.29 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Norfolk Southern

Several institutional investors and hedge funds have recently added to or reduced their stakes in NSC. Czech National Bank increased its stake in shares of Norfolk Southern by 7.0% in the 3rd quarter. Czech National Bank now owns 46,058 shares of the railroad operator’s stock worth $11,445,000 after acquiring an additional 3,008 shares in the last quarter. GAMMA Investing LLC grew its holdings in Norfolk Southern by 22.9% in the third quarter. GAMMA Investing LLC now owns 3,708 shares of the railroad operator’s stock worth $921,000 after purchasing an additional 692 shares during the period. Miracle Mile Advisors LLC increased its stake in shares of Norfolk Southern by 8.7% during the third quarter. Miracle Mile Advisors LLC now owns 1,416 shares of the railroad operator’s stock valued at $352,000 after purchasing an additional 113 shares in the last quarter. Fulton Bank N.A. boosted its position in shares of Norfolk Southern by 2.1% in the 3rd quarter. Fulton Bank N.A. now owns 8,181 shares of the railroad operator’s stock worth $2,033,000 after purchasing an additional 169 shares in the last quarter. Finally, Salvus Wealth Management LLC boosted its position in shares of Norfolk Southern by 3.3% in the 3rd quarter. Salvus Wealth Management LLC now owns 4,702 shares of the railroad operator’s stock worth $1,168,000 after purchasing an additional 151 shares in the last quarter. Hedge funds and other institutional investors 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.