Norfolk Southern (NYSE:NSC) Given New $305.00 Price Target at Barclays

Norfolk Southern (NYSE:NSC) had its price objective lifted by Barclays from $290.00 to $305.00 in a report released on Wednesday morning,Benzinga reports. They currently have an overweight rating on the railroad operator’s stock.

NSC has been the subject of several other reports. Wells Fargo & Company increased their price objective on Norfolk Southern from $270.00 to $280.00 and gave the company an “overweight” rating in a report on Wednesday, October 23rd. Benchmark upped their target price on shares of Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a report on Wednesday, October 23rd. Bank of America raised their price target on Norfolk Southern from $276.00 to $291.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. Sanford C. Bernstein upped their price objective 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, Loop Capital lifted their target price on Norfolk Southern from $285.00 to $287.00 and gave the company a “buy” rating in a research note on Wednesday, October 23rd. One research 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $275.68.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $261.26 on Wednesday. Norfolk Southern has a 12 month low of $205.70 and a 12 month high of $277.60. The firm has a market capitalization of $59.11 billion, a P/E ratio of 24.53, a P/E/G ratio of 2.48 and a beta of 1.30. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. The company’s fifty day moving average price is $252.99 and its 200 day moving average price is $238.84.

Norfolk Southern (NYSE:NSC) last posted 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 analysts’ expectations of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The business’s revenue was up 3.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $2.65 earnings per share. As a group, sell-side analysts predict that Norfolk Southern will post 11.82 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently disclosed 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. This represents a $5.40 annualized dividend and a yield of 2.07%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s payout ratio is currently 50.70%.

Insiders Place Their Bets

In other Norfolk Southern news, Director Sameh Fahmy acquired 1,000 shares of the firm’s stock in a transaction that occurred on Thursday, October 24th. The shares were acquired at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the transaction, the director now directly owns 10,000 shares of the company’s stock, valued at approximately $2,550,000. This represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Alan H. Shaw sold 51,325 shares of the firm’s stock in a transaction dated 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 transaction, the chief executive officer now owns 35,045 shares of the company’s stock, valued at $8,970,819.10. This trade represents a 59.42 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 0.19% of the stock is owned by company insiders.

Institutional Investors Weigh In On Norfolk Southern

Institutional investors and hedge funds have recently bought and sold shares of the stock. Mirae Asset Global Investments Co. Ltd. lifted its position in shares of Norfolk Southern by 20.5% in 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 acquiring an additional 2,453 shares in the last quarter. Sumitomo Mitsui Trust Group Inc. lifted its holdings in Norfolk Southern by 0.7% in the 3rd quarter. Sumitomo Mitsui Trust Group Inc. now owns 533,459 shares of the railroad operator’s stock valued at $132,565,000 after purchasing an additional 3,621 shares in the last quarter. Pathway Financial Advisers LLC boosted its stake in shares of Norfolk Southern by 25,181.8% during the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock worth $222,025,000 after purchasing an additional 889,925 shares during the last quarter. Seven Eight Capital LP acquired a new position in shares of Norfolk Southern in the second quarter valued at approximately $1,676,000. Finally, Dakota Wealth Management lifted its stake in shares of Norfolk Southern by 2.1% during the third quarter. Dakota Wealth Management now owns 7,206 shares of the railroad operator’s stock valued at $1,791,000 after buying an additional 150 shares during the period. 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.