Bank of America Cuts Norfolk Southern (NYSE:NSC) Price Target to $272.00

Norfolk Southern (NYSE:NSC) had its target price lowered by Bank of America from $292.00 to $272.00 in a report released on Tuesday,Benzinga reports. The firm currently has a buy rating on the railroad operator’s stock.

A number of other research analysts have also commented on NSC. Wells Fargo & Company cut their price objective on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Susquehanna lowered their price target on shares of Norfolk Southern from $285.00 to $265.00 and set a “neutral” rating on the stock in a report on Wednesday, January 8th. Royal Bank of Canada raised their price objective on shares of Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a report on Thursday, January 30th. Loop Capital cut shares of Norfolk Southern from a “buy” rating to a “hold” rating and lowered their target price for the company from $289.00 to $256.00 in a research note on Monday, February 3rd. Finally, Stephens raised their price target on shares of Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a research note on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average target price of $274.84.

Norfolk Southern Price Performance

NYSE NSC opened at $235.51 on Tuesday. The stock’s 50-day moving average is $245.58 and its two-hundred day moving average is $249.32. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. Norfolk Southern has a fifty-two week low of $206.71 and a fifty-two week high of $277.60. The firm has a market cap of $53.33 billion, a P/E ratio of 20.37, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last announced its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 EPS for the quarter, topping 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%. On average, analysts anticipate that Norfolk Southern will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.29%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s dividend payout ratio is currently 46.71%.

Insiders Place Their Bets

In other news, Director Gilbert H. Lamphere bought 607 shares of the stock in a transaction dated Friday, January 31st. The stock was bought at an average cost of $259.86 per share, with a total value of $157,735.02. Following the purchase, the director now owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. This represents a 32.29 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 0.19% of the company’s stock.

Institutional Trading of Norfolk Southern

Hedge funds and other institutional investors have recently added to or reduced their stakes in the company. Fire Capital Management LLC bought a new position in shares of Norfolk Southern in the 4th quarter valued at about $352,000. Wellington Management Group LLP grew its holdings in Norfolk Southern by 3.6% during the 4th quarter. Wellington Management Group LLP now owns 23,882 shares of the railroad operator’s stock worth $5,605,000 after acquiring an additional 820 shares during the period. Mascagni Wealth Management Inc. bought a new stake in shares of Norfolk Southern during the 4th quarter valued at $141,000. 111 Capital acquired a new position in shares of Norfolk Southern in the 4th quarter valued at $939,000. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of Norfolk Southern by 53.4% in the 4th 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 during the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

About Norfolk Southern

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.