Stephens Reaffirms “Equal Weight” Rating for Norfolk Southern (NYSE:NSC)

Stephens reaffirmed their equal weight rating on shares of Norfolk Southern (NYSE:NSC) in a report issued on Wednesday, Benzinga reports. They currently have a $263.00 price target on the railroad operator’s stock.

Other research analysts have also recently issued research reports about the company. Barclays raised their target price on Norfolk Southern from $275.00 to $290.00 and gave the company an “overweight” rating in a research note on Wednesday. Bank of America raised their target price on Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a research note on Wednesday. Citigroup raised their target price on Norfolk Southern from $294.00 to $302.00 and gave the company a “buy” rating in a research note on Tuesday, October 22nd. TD Cowen increased their price target on Norfolk Southern from $251.00 to $253.00 and gave the company a “hold” rating in a research report on Friday, July 26th. Finally, Wells Fargo & Company increased their price target on Norfolk Southern from $270.00 to $280.00 and gave the company an “overweight” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, Norfolk Southern has a consensus rating of “Moderate Buy” and an average price target of $274.16.

Norfolk Southern Trading Down 0.9 %

Shares of NSC stock opened at $251.09 on Wednesday. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.54 and a current ratio of 0.73. Norfolk Southern has a 1 year low of $183.76 and a 1 year high of $263.66. The stock has a fifty day moving average of $249.22 and a two-hundred day moving average of $237.00. The firm has a market capitalization of $56.77 billion, a PE ratio of 23.58, a price-to-earnings-growth ratio of 2.48 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.14. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same quarter last year, the business posted $2.65 earnings per share. The company’s quarterly revenue was up 3.3% on a year-over-year basis. As a group, research analysts expect that Norfolk Southern will post 11.78 EPS for the current year.

Norfolk Southern Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be paid a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.15%. The ex-dividend date is Friday, November 1st. Norfolk Southern’s dividend payout ratio (DPR) is presently 50.70%.

Insider Transactions at Norfolk Southern

In other news, Director Sameh Fahmy purchased 700 shares of the business’s stock in a transaction dated Thursday, August 1st. The stock was bought at an average cost of $245.15 per share, with a total value of $171,605.00. Following the purchase, the director now directly owns 7,700 shares of the company’s stock, valued at approximately $1,887,655. This trade represents a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. In related news, CEO Alan H. Shaw sold 51,325 shares of the firm’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 transaction, the chief executive officer now directly owns 35,045 shares of the company’s stock, valued at approximately $8,970,819.10. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Also, Director Sameh Fahmy acquired 700 shares of the business’s stock in a transaction that occurred on Thursday, August 1st. The stock was bought at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the purchase, the director now directly owns 7,700 shares in the company, valued at $1,887,655. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders bought 3,700 shares of company stock valued at $921,565 in the last three months. Corporate insiders own 0.19% of the company’s stock.

Institutional Inflows and Outflows

A number of institutional investors have recently made changes to their positions in NSC. Highline Wealth Partners LLC bought a new position in shares of Norfolk Southern in the 3rd quarter valued at approximately $25,000. Cedar Wealth Management LLC acquired a new stake in Norfolk Southern in the 1st quarter valued at approximately $27,000. 1620 Investment Advisors Inc. acquired a new stake in Norfolk Southern in the 2nd quarter valued at approximately $27,000. Financial Connections Group Inc. acquired a new stake in Norfolk Southern in the 2nd quarter valued at approximately $31,000. Finally, HWG Holdings LP acquired a new stake in Norfolk Southern in the 2nd quarter valued at approximately $31,000. 75.10% of the stock is owned by 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.