Barclays Cuts Norfolk Southern (NYSE:NSC) Price Target to $290.00

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

A number of other equities research analysts also recently commented on the company. Stephens lifted their price objective on Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a research report on Thursday, January 30th. Benchmark reiterated a “buy” rating and set a $285.00 price objective on shares of Norfolk Southern in a report on Thursday, January 30th. JPMorgan Chase & Co. lifted their price target on shares of Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a report on Thursday, January 30th. Loop Capital downgraded Norfolk Southern from a “buy” rating to a “hold” rating and dropped their price objective for the stock from $289.00 to $256.00 in a report on Monday, February 3rd. Finally, Royal Bank of Canada lifted their target price on Norfolk Southern from $275.00 to $286.00 and gave the company an “outperform” rating in a report on Thursday, January 30th. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have given a buy rating to the company’s stock. According to data from MarketBeat, Norfolk Southern has a consensus rating of “Moderate Buy” and an average price target of $272.74.

Norfolk Southern Stock Performance

NYSE NSC opened at $238.95 on Wednesday. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. The stock has a market cap of $54.11 billion, a price-to-earnings ratio of 20.67, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. Norfolk Southern has a fifty-two week low of $206.71 and a fifty-two week high of $277.60. The business has a fifty day moving average of $244.55 and a 200-day moving average of $248.79.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share 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%. As a group, analysts predict that Norfolk Southern will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

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

Insider Activity

In other Norfolk Southern news, Director Gilbert H. Lamphere purchased 607 shares of Norfolk Southern stock in a transaction that occurred on Friday, January 31st. The stock was purchased at an average price of $259.86 per share, with a total value of $157,735.02. Following the completion of the acquisition, the director now owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Norfolk Southern

A number of institutional investors have recently made changes to their positions in NSC. Fire Capital Management LLC bought a new stake in shares of Norfolk Southern in the fourth quarter worth $352,000. Wellington Management Group LLP increased its position in shares of Norfolk Southern by 3.6% in the 4th quarter. Wellington Management Group LLP now owns 23,882 shares of the railroad operator’s stock worth $5,605,000 after purchasing an additional 820 shares during the last quarter. Mascagni Wealth Management Inc. acquired a new stake in shares of Norfolk Southern in the 4th quarter valued at about $141,000. 111 Capital bought a new position in shares of Norfolk Southern during the fourth quarter worth about $939,000. Finally, Wealth Enhancement Advisory Services LLC grew its stake in Norfolk Southern by 53.4% in the fourth quarter. Wealth Enhancement Advisory Services LLC now owns 68,681 shares of the railroad operator’s stock worth $16,119,000 after purchasing an additional 23,918 shares in 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.