Jefferies Financial Group Boosts Norfolk Southern (NYSE:NSC) Price Target to $280.00

Norfolk Southern (NYSE:NSC) had its price objective increased by Jefferies Financial Group from $275.00 to $280.00 in a report issued on Thursday, Benzinga reports. The firm currently has a buy rating on the railroad operator’s stock.

Other analysts have also recently issued research reports about the stock. Sanford C. Bernstein lifted their price objective on shares of Norfolk Southern from $285.00 to $286.00 and gave the stock an outperform rating in a research note on Wednesday. Stifel Nicolaus boosted their price target on Norfolk Southern from $239.00 to $241.00 and gave the company a hold rating in a research note on Friday, July 26th. Morgan Stanley restated an underweight rating and set a $175.00 price objective on shares of Norfolk Southern in a research note on Monday, July 8th. TD Cowen upped their target price on Norfolk Southern from $251.00 to $253.00 and gave the company a hold rating in a research report on Friday, July 26th. Finally, Benchmark boosted their price target on Norfolk Southern from $266.00 to $270.00 and gave the company a buy rating in a research note on Monday, July 29th. One analyst has rated the stock with a sell rating, four have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of Moderate Buy and a consensus price target of $266.17.

Norfolk Southern Trading Up 1.7 %

Shares of NYSE:NSC opened at $250.17 on Thursday. Norfolk Southern has a 12-month low of $183.09 and a 12-month high of $263.66. The business has a 50 day moving average of $246.64 and a 200-day moving average of $236.77. The company has a quick ratio of 0.54, a current ratio of 0.63 and a debt-to-equity ratio of 1.30. The stock has a market cap of $56.52 billion, a PE ratio of 40.29, a P/E/G ratio of 2.33 and a beta of 1.31.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 EPS for the quarter, beating analysts’ consensus estimates of $2.86 by $0.20. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The firm had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same period in the prior year, the firm posted $2.95 EPS. The company’s revenue for the quarter was up 2.1% on a year-over-year basis. As a group, equities research analysts forecast that Norfolk Southern will post 11.79 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Shareholders of record on Friday, August 2nd were paid a dividend of $1.35 per share. The ex-dividend date was Friday, August 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.16%. Norfolk Southern’s payout ratio is presently 86.96%.

Insiders Place Their Bets

In other news, Director Sameh Fahmy purchased 700 shares of Norfolk Southern 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 owns 7,700 shares in the company, valued at approximately $1,887,655. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Norfolk Southern 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 price of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the acquisition, the director now owns 7,700 shares in the company, valued at approximately $1,887,655. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO Alan H. Shaw sold 51,325 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $255.98, for a total value of $13,138,173.50. Following the completion of the sale, the chief executive officer now owns 35,045 shares of the company’s stock, valued at $8,970,819.10. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 0.19% of the company’s stock.

Institutional Trading of Norfolk Southern

Several institutional investors have recently added to or reduced their stakes in the stock. Buckingham Strategic Wealth LLC boosted its stake in shares of Norfolk Southern by 7.0% in the 4th quarter. Buckingham Strategic Wealth LLC now owns 96,384 shares of the railroad operator’s stock valued at $22,783,000 after purchasing an additional 6,306 shares during the last quarter. Guardian Wealth Advisors LLC NC grew its holdings in Norfolk Southern by 5.5% during the 4th quarter. Guardian Wealth Advisors LLC NC now owns 4,023 shares of the railroad operator’s stock worth $951,000 after acquiring an additional 210 shares during the period. Prelude Capital Management LLC raised its position in shares of Norfolk Southern by 8.7% in the 4th quarter. Prelude Capital Management LLC now owns 34,706 shares of the railroad operator’s stock worth $8,204,000 after acquiring an additional 2,792 shares in the last quarter. Wealthquest Corp acquired a new position in shares of Norfolk Southern in the 4th quarter valued at about $203,000. Finally, Taylor Financial Group Inc. acquired a new stake in Norfolk Southern during the fourth quarter worth approximately $19,937,000. 75.10% of the stock is currently owned by 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.