Norfolk Southern Sees Unusually High Options Volume (NYSE:NSC)

Norfolk Southern Corporation (NYSE:NSC) saw unusually large options trading on Wednesday. Investors acquired 4,188 call options on the stock. This is an increase of approximately 856% compared to the average volume of 438 call options.

Institutional Investors Weigh In On Norfolk Southern

Institutional investors and hedge funds have recently added to or reduced their stakes in the business. BlackRock Inc. bought a new position in shares of Norfolk Southern in the second quarter worth about $5,033,549,000. Bank of America Corp DE acquired a new stake in shares of Norfolk Southern in the second quarter valued at about $978,977,000. Dimensional Fund Advisors LP raised its holdings in Norfolk Southern by 2.1% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,259,558 shares of the railroad operator’s stock worth $648,429,000 after purchasing an additional 46,127 shares during the last quarter. Amundi lifted its holdings in Norfolk Southern by 24.2% in the first quarter. Amundi now owns 2,226,885 shares of the railroad operator’s stock valued at $639,116,000 after buying an additional 434,074 shares during the period. Finally, HBK Investments L P boosted its position in shares of Norfolk Southern by 0.8% during the 2nd quarter. HBK Investments L P now owns 1,750,000 shares of the railroad operator’s stock valued at $550,532,000 after purchasing an additional 13,644 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Stock Performance

NYSE NSC traded up $1.88 on Wednesday, hitting $329.81. 212,221 shares of the stock were exchanged, compared to its average volume of 1,169,803. The company has a debt-to-equity ratio of 0.95, a current ratio of 0.90 and a quick ratio of 0.81. The business’s fifty day moving average is $324.08 and its 200 day moving average is $316.48. The company has a market capitalization of $74.08 billion, a PE ratio of 27.66, a P/E/G ratio of 4.86 and a beta of 1.20. Norfolk Southern has a 52 week low of $277.80 and a 52 week high of $358.60.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Thursday, October 22nd. The railroad operator reported $3.62 EPS for the quarter, topping the consensus estimate of $3.46 by $0.16. The company had revenue of $3.53 billion during the quarter, compared to the consensus estimate of $3.48 billion. Norfolk Southern had a return on equity of 18.22% and a net margin of 20.70%. The firm’s revenue for the quarter was up 13.6% compared to the same quarter last year. During the same period in the previous year, the company posted $3.30 EPS. Research analysts anticipate that Norfolk Southern will post 12.83 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Stockholders of record on Friday, November 6th will be given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Friday, November 6th. Norfolk Southern’s payout ratio is presently 45.26%.

Wall Street Analysts Forecast Growth

NSC has been the topic of several recent analyst reports. Weiss Ratings raised Norfolk Southern from a “buy (b-)” rating to a “buy (b)” rating in a research note on Friday, October 9th. Royal Bank Of Canada boosted their target price on Norfolk Southern from $330.00 to $350.00 and gave the stock a “sector perform” rating in a research report on Friday, October 23rd. Citigroup increased their price objective on shares of Norfolk Southern from $347.00 to $349.00 and gave the company a “neutral” rating in a report on Friday, October 23rd. Evercore raised their target price on Norfolk Southern from $358.00 to $360.00 in a report on Wednesday, September 30th. Finally, JPMorgan Chase & Co. boosted their price target on shares of Norfolk Southern from $318.00 to $323.00 and gave the company a “neutral” rating in a report on Friday, October 23rd. Seven research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the stock. According to MarketBeat.com, Norfolk Southern currently has a consensus rating of “Hold” and an average price target of $348.81.

Norfolk Southern Company Profile

Norfolk Southern Corporation is a freight transportation company that operates a major railroad network across the eastern United States. Its rail services connect businesses, ports and communities, and link with other railroads to move goods across North America. The company transports a broad range of products, including coal, chemicals, agricultural goods, automotive vehicles and parts, metals, construction materials and consumer products. Its services include intermodal transportation, which combines rail with truck or container shipping, as well as rail freight and logistics solutions.