Norfolk Southern (NYSE:NSC) Given New $290.00 Price Target at Barclays

Norfolk Southern (NYSE:NSC) had its price target decreased by Barclays from $305.00 to $290.00 in a research report sent to investors on Wednesday,Benzinga reports. Barclays currently has an overweight rating on the railroad operator’s stock.

NSC has been the topic of a number of other research reports. Benchmark reaffirmed a “buy” rating and issued a $285.00 price target on shares of Norfolk Southern in a research report on Thursday, January 30th. Bank of America decreased their price target on shares of Norfolk Southern from $292.00 to $272.00 and set a “buy” rating for the company in a research note on Tuesday, March 25th. Royal Bank of Canada raised their price objective on shares of Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. Wells Fargo & Company lowered their target price on shares of Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating for the company in a research note on Thursday, March 27th. Finally, JPMorgan Chase & Co. raised their price target on Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a research note on Thursday, January 30th. One analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat, Norfolk Southern currently has an average rating of “Moderate Buy” and a consensus price target of $272.74.

Norfolk Southern Stock Up 1.0 %

Shares of NSC opened at $238.95 on Wednesday. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90. The stock has a market capitalization of $54.11 billion, a PE ratio of 20.67, a P/E/G ratio of 2.31 and a beta of 1.35. The company’s 50-day simple moving average is $244.55 and its 200-day simple moving average is $248.79. 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, beating the consensus estimate of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. Analysts forecast that Norfolk Southern will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were paid a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 2.26%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s dividend payout ratio is presently 46.71%.

Insiders Place Their Bets

In related news, Director Gilbert H. Lamphere purchased 607 shares of the business’s stock in a transaction dated Friday, January 31st. The stock was acquired at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the purchase, the director now directly owns 2,487 shares of the company’s stock, valued at $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.19% of the stock is owned by insiders.

Hedge Funds Weigh In On Norfolk Southern

Large investors have recently bought and sold shares of the company. Raab & Moskowitz Asset Management LLC raised its holdings in Norfolk Southern by 2.4% during the third quarter. Raab & Moskowitz Asset Management LLC now owns 1,749 shares of the railroad operator’s stock worth $435,000 after purchasing an additional 41 shares in the last quarter. Strategic Investment Solutions Inc. IL raised its stake in shares of Norfolk Southern by 16.9% during the 4th quarter. Strategic Investment Solutions Inc. IL now owns 304 shares of the railroad operator’s stock worth $71,000 after buying an additional 44 shares in the last quarter. CoreCap Advisors LLC lifted its holdings in shares of Norfolk Southern by 1.5% in the 4th quarter. CoreCap Advisors LLC now owns 3,097 shares of the railroad operator’s stock valued at $727,000 after buying an additional 45 shares during the period. Albert D Mason Inc. boosted its stake in shares of Norfolk Southern by 0.7% in the fourth quarter. Albert D Mason Inc. now owns 6,881 shares of the railroad operator’s stock valued at $1,615,000 after buying an additional 46 shares in the last quarter. Finally, Signal Advisors Wealth LLC grew its holdings in Norfolk Southern by 5.4% during the fourth quarter. Signal Advisors Wealth LLC now owns 960 shares of the railroad operator’s stock worth $225,000 after acquiring an additional 49 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

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.