Norfolk Southern (NYSE:NSC) Price Target Raised to $280.00 at Jefferies Financial Group

Norfolk Southern (NYSE:NSC) had its price target upped by Jefferies Financial Group from $275.00 to $280.00 in a research report report published on Thursday morning, Benzinga reports. They currently have a buy rating on the railroad operator’s stock.

Other research analysts also recently issued research reports about the company. TD Cowen raised their target price on Norfolk Southern from $251.00 to $253.00 and gave the stock a hold rating in a research note on Friday, July 26th. Evercore ISI raised their price target on Norfolk Southern from $265.00 to $276.00 and gave the stock an outperform rating in a research report on Wednesday, September 25th. Susquehanna increased their target price on shares of Norfolk Southern from $255.00 to $280.00 and gave the stock a neutral rating in a report on Wednesday, October 2nd. Sanford C. Bernstein boosted their price target on shares of Norfolk Southern from $285.00 to $286.00 and gave the company an outperform rating in a research report on Wednesday, October 9th. Finally, Citigroup assumed coverage on Norfolk Southern in a research note on Wednesday, October 9th. They issued a buy rating and a $294.00 price target on the stock. One investment analyst has rated the stock with a sell rating, four have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the company presently has an average rating of Moderate Buy and an average price target of $266.17.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $250.17 on Thursday. The company has a debt-to-equity ratio of 1.30, a quick ratio of 0.54 and a current ratio of 0.63. The firm has a market cap of $56.52 billion, a price-to-earnings ratio of 40.29, a P/E/G ratio of 2.33 and a beta of 1.31. Norfolk Southern has a 52 week low of $183.09 and a 52 week high of $263.66. The firm’s 50-day simple moving average is $246.64 and its two-hundred day simple moving average is $236.66.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 EPS for the quarter, beating the consensus estimate of $2.86 by $0.20. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The business had revenue of $3.04 billion for the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter in the prior year, the business earned $2.95 earnings per share. Norfolk Southern’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities analysts forecast that Norfolk Southern will post 11.79 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd were given a $1.35 dividend. The ex-dividend date was Friday, August 2nd. This represents a $5.40 annualized dividend and a yield of 2.16%. Norfolk Southern’s payout ratio is presently 86.96%.

Insiders Place Their Bets

In related news, CEO Alan H. Shaw sold 51,325 shares of the stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $255.98, for a total value of $13,138,173.50. Following the completion of the sale, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. In other news, EVP Nabanita C. Nag sold 355 shares of the stock in a transaction that occurred on Monday, July 29th. The stock was 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 directly owns 1,488 shares in the company, valued at approximately $371,077.44. This represents a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Alan H. Shaw sold 51,325 shares of the business’s 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 in the company, valued at $8,970,819.10. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Norfolk Southern

Institutional investors and hedge funds have recently made changes to their positions in the business. Buckingham Strategic Wealth LLC grew its holdings in Norfolk Southern by 7.0% during the 4th quarter. Buckingham Strategic Wealth LLC now owns 96,384 shares of the railroad operator’s stock valued at $22,783,000 after purchasing an additional 6,306 shares during the last quarter. Guardian Wealth Advisors LLC NC grew its position in Norfolk Southern by 5.5% during the 4th quarter. Guardian Wealth Advisors LLC NC now owns 4,023 shares of the railroad operator’s stock worth $951,000 after purchasing an additional 210 shares during the last quarter. Prelude Capital Management LLC increased its position in shares of Norfolk Southern by 8.7% in the 4th quarter. Prelude Capital Management LLC now owns 34,706 shares of the railroad operator’s stock valued at $8,204,000 after acquiring an additional 2,792 shares during the period. Wealthquest Corp purchased a new position in Norfolk Southern in the 4th quarter worth $203,000. Finally, Taylor Financial Group Inc. acquired a new stake in Norfolk Southern during the 4th quarter worth about $19,937,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

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.