UBS Group Increases Norfolk Southern (NYSE:NSC) Price Target to $309.00

Norfolk Southern (NYSE:NSC) had its target price lifted by UBS Group from $289.00 to $309.00 in a report released on Wednesday morning, Benzinga reports. They currently have a buy rating on the railroad operator’s stock.

Other equities research analysts have also recently issued reports about the company. TD Cowen lifted their target price on Norfolk Southern from $251.00 to $253.00 and gave the company a “hold” rating in a research note on Friday, July 26th. Citigroup boosted their price objective on Norfolk Southern from $294.00 to $302.00 and gave the stock a “buy” rating in a report on Tuesday, October 22nd. Benchmark raised their target price on shares of Norfolk Southern from $270.00 to $285.00 and gave the company a “buy” rating in a research note on Wednesday. Stifel Nicolaus boosted their price target on shares of Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research note on Friday, October 11th. Finally, Jefferies Financial Group raised their price objective on shares of Norfolk Southern from $275.00 to $280.00 and gave the company a “buy” rating in a research note on Thursday, October 10th. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average price target of $274.16.

Norfolk Southern Stock Performance

Shares of NYSE:NSC opened at $251.09 on Wednesday. Norfolk Southern has a twelve month low of $183.76 and a twelve month high of $263.66. The business has a fifty day moving average of $249.22 and a 200-day moving average of $236.88. The company has a debt-to-equity ratio of 1.21, a quick ratio of 0.54 and a current ratio of 0.73. The firm has a market cap of $56.72 billion, a PE ratio of 40.43, 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 (EPS) for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. Norfolk Southern’s quarterly revenue was up 3.3% on a year-over-year basis. During the same period in the prior year, the business earned $2.65 earnings per share. On average, equities research analysts predict that Norfolk Southern will post 11.78 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, November 20th. Investors of record on Friday, November 1st will be issued a dividend of $1.35 per share. The ex-dividend date is Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.15%. Norfolk Southern’s payout ratio is 86.96%.

Insider Buying and Selling

In other news, Director Sameh Fahmy purchased 700 shares of the business’s stock in a transaction dated Thursday, August 1st. The shares were bought at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the acquisition, the director now directly owns 7,700 shares in the company, valued at approximately $1,887,655. This trade represents a 0.00 % increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Norfolk Southern news, Director Sameh Fahmy acquired 700 shares of the stock in a transaction dated Thursday, August 1st. The shares were bought at an average cost of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the acquisition, 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, EVP Nabanita C. Nag sold 355 shares of the stock in a transaction 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 transaction, the executive vice president now owns 1,488 shares of the company’s stock, valued at $371,077.44. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders purchased 3,700 shares of company stock valued at $921,565. Company insiders own 0.19% of the company’s stock.

Institutional Trading of Norfolk Southern

Hedge funds and other institutional investors have recently modified their holdings of the stock. Highline Wealth Partners LLC acquired a new position in Norfolk Southern during the third quarter valued at approximately $25,000. Cedar Wealth Management LLC bought a new stake in shares of Norfolk Southern during the 1st quarter worth approximately $27,000. 1620 Investment Advisors Inc. acquired a new stake in shares of Norfolk Southern in the 2nd quarter valued at approximately $27,000. Financial Connections Group Inc. bought a new position in shares of Norfolk Southern in the second quarter valued at $31,000. Finally, HWG Holdings LP bought a new position in shares of Norfolk Southern in the second quarter valued at $31,000. Institutional investors and hedge funds 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.