Evercore ISI Raises Norfolk Southern (NYSE:NSC) Price Target to $276.00

Norfolk Southern (NYSE:NSC) had its price objective boosted by Evercore ISI from $265.00 to $276.00 in a report released on Wednesday morning, Benzinga reports. They currently have an outperform rating on the railroad operator’s stock.

A number of other analysts have also weighed in on NSC. Susquehanna increased their target price on Norfolk Southern from $245.00 to $255.00 and gave the stock a neutral rating in a research note on Friday, July 26th. TD Cowen raised their price target on shares of Norfolk Southern from $251.00 to $253.00 and gave the stock a hold rating in a research note on Friday, July 26th. Benchmark boosted their price objective on shares of Norfolk Southern from $266.00 to $270.00 and gave the company a buy rating in a research report on Monday, July 29th. Royal Bank of Canada reduced their target price on shares of Norfolk Southern from $270.00 to $267.00 and set an outperform rating on the stock in a research report on Friday, July 26th. Finally, Wells Fargo & Company boosted their price target on Norfolk Southern from $260.00 to $270.00 and gave the company an overweight rating in a report on Friday, July 26th. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of Moderate Buy and an average price target of $264.89.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $246.49 on Wednesday. The firm has a market capitalization of $55.69 billion, a PE ratio of 39.69, a price-to-earnings-growth ratio of 2.40 and a beta of 1.31. Norfolk Southern has a 12-month low of $183.09 and a 12-month high of $263.66. The firm has a 50-day moving average price of $244.95 and a 200-day moving average price of $237.59. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.20. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.64%. The business had revenue of $3.04 billion during the quarter, compared to the consensus estimate of $3.04 billion. During the same quarter last year, the firm earned $2.95 earnings per share. The firm’s quarterly revenue was up 2.1% compared to the same quarter last year. As a group, equities research analysts forecast that Norfolk Southern will post 11.8 EPS for the current year.

Norfolk Southern Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd were paid a $1.35 dividend. The ex-dividend date was Friday, August 2nd. This represents a $5.40 annualized dividend and a yield of 2.19%. Norfolk Southern’s dividend payout ratio (DPR) is 86.96%.

Insider Transactions at Norfolk Southern

In related news, EVP Nabanita C. Nag sold 355 shares of the business’s 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 directly owns 1,488 shares in the company, valued at approximately $371,077.44. The sale was disclosed in a document filed with the SEC, which can be accessed through this link. In related news, Director Sameh Fahmy bought 700 shares of the 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 purchase, the director now directly owns 7,700 shares of the company’s stock, valued at $1,887,655. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, EVP Nabanita C. Nag sold 355 shares of the company’s stock in a transaction that occurred on Monday, July 29th. The shares were 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 in the company, valued at approximately $371,077.44. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Institutional Investors Weigh In On Norfolk Southern

Large investors have recently made changes to their positions in the stock. Boston Partners lifted its position in Norfolk Southern by 157.1% during the 1st quarter. Boston Partners now owns 2,890,665 shares of the railroad operator’s stock worth $735,749,000 after acquiring an additional 1,766,135 shares during the period. Vanguard Group Inc. raised its stake in shares of Norfolk Southern by 5.9% in the first quarter. Vanguard Group Inc. now owns 19,623,690 shares of the railroad operator’s stock worth $5,001,490,000 after purchasing an additional 1,088,072 shares during the last quarter. American Century Companies Inc. lifted its holdings in shares of Norfolk Southern by 17.3% during the second quarter. American Century Companies Inc. now owns 3,356,590 shares of the railroad operator’s stock worth $720,626,000 after purchasing an additional 496,088 shares during the period. Public Employees Retirement Association of Colorado boosted its position in Norfolk Southern by 1,956.8% in the fourth quarter. Public Employees Retirement Association of Colorado now owns 451,226 shares of the railroad operator’s stock valued at $106,661,000 after buying an additional 429,288 shares during the last quarter. Finally, EdgePoint Investment Group Inc. raised its position in Norfolk Southern by 10.2% during the 1st quarter. EdgePoint Investment Group Inc. now owns 3,752,050 shares of the railroad operator’s stock worth $956,285,000 after buying an additional 347,852 shares during the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

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.