Stifel Nicolaus Raises Norfolk Southern (NYSE:NSC) Price Target to $241.00

Norfolk Southern (NYSE:NSC) had its target price upped by Stifel Nicolaus from $239.00 to $241.00 in a research note published on Friday, Benzinga reports. The brokerage currently has a hold rating on the railroad operator’s stock.

A number of other equities research analysts also recently commented on NSC. UBS Group reduced their price objective on shares of Norfolk Southern from $302.00 to $294.00 and set a buy rating for the company in a research report on Thursday, April 25th. Royal Bank of Canada decreased their price target on Norfolk Southern from $270.00 to $267.00 and set an outperform rating on the stock in a research note on Friday. Benchmark reiterated a buy rating and issued a $277.00 price objective on shares of Norfolk Southern in a research report on Thursday, April 25th. JPMorgan Chase & Co. raised their target price on Norfolk Southern from $240.00 to $275.00 and gave the company an overweight rating in a report on Tuesday, April 9th. Finally, TD Cowen upped their price target on shares of Norfolk Southern from $251.00 to $253.00 and gave the stock a hold rating in a research note on Friday. One research analyst has rated the stock with a sell rating, five have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock has an average rating of Moderate Buy and an average target price of $264.65.

Norfolk Southern Trading Up 10.9 %

NYSE:NSC opened at $247.15 on Friday. 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 0.68, a quick ratio of 0.61 and a debt-to-equity ratio of 1.37. The stock’s 50 day simple moving average is $222.63 and its 200-day simple moving average is $237.48. The firm has a market cap of $55.83 billion, a P/E ratio of 39.80, a PEG ratio of 2.20 and a beta of 1.32.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.86 by $0.20. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.77%. The company had revenue of $3.04 billion for the quarter, compared to analysts’ expectations of $3.04 billion. During the same period in the previous year, the company posted $2.95 EPS. Norfolk Southern’s revenue was up 2.1% compared to the same quarter last year. Equities analysts anticipate that Norfolk Southern will post 11.62 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd will be issued a $1.35 dividend. The ex-dividend date is Friday, August 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.18%. Norfolk Southern’s dividend payout ratio (DPR) is 86.96%.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, CMO Claude E. Elkins sold 8,329 shares of the company’s stock in a transaction dated Friday, May 10th. The shares were sold at an average price of $228.43, for a total value of $1,902,593.47. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other Norfolk Southern news, CMO Claude E. Elkins sold 8,329 shares of the stock in a transaction on Friday, May 10th. The stock was sold at an average price of $228.43, for a total transaction of $1,902,593.47. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, Director Sameh Fahmy acquired 2,000 shares of the stock in a transaction dated Friday, June 14th. The stock was acquired at an average cost of $219.25 per share, with a total value of $438,500.00. Following the transaction, the director now owns 7,000 shares of the company’s stock, valued at $1,534,750. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Norfolk Southern

Several hedge funds have recently modified their holdings of NSC. Raleigh Capital Management Inc. raised its stake in Norfolk Southern by 4.4% during the fourth quarter. Raleigh Capital Management Inc. now owns 956 shares of the railroad operator’s stock worth $226,000 after purchasing an additional 40 shares during the period. MCF Advisors LLC grew its stake in shares of Norfolk Southern by 4.2% during the 4th quarter. MCF Advisors LLC now owns 1,016 shares of the railroad operator’s stock valued at $240,000 after buying an additional 41 shares during the period. Fiduciary Group LLC increased its holdings in shares of Norfolk Southern by 0.4% during the 4th quarter. Fiduciary Group LLC now owns 9,986 shares of the railroad operator’s stock worth $2,360,000 after buying an additional 41 shares during the last quarter. Hall Capital Management Co. Inc. raised its position in shares of Norfolk Southern by 2.8% in the 2nd quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator’s stock worth $325,000 after buying an additional 42 shares during the period. Finally, ZWJ Investment Counsel Inc. boosted its holdings in Norfolk Southern by 0.6% in the fourth quarter. ZWJ Investment Counsel Inc. now owns 7,456 shares of the railroad operator’s stock valued at $1,762,000 after acquiring an additional 43 shares during the last quarter. 75.10% of the stock is owned by institutional investors and hedge funds.

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.