Wells Fargo & Company upgraded shares of Norfolk Southern (NYSE:NSC – Get Rating) from an equal weight rating to an overweight rating in a report published on Monday, The Fly reports. The firm currently has $250.00 target price on the railroad operator’s stock, up from their previous target price of $225.00.
Several other research firms also recently issued reports on NSC. Royal Bank of Canada cut their price objective on Norfolk Southern from $221.00 to $210.00 and set a sector perform rating on the stock in a report on Thursday, April 27th. Deutsche Bank Aktiengesellschaft cut their target price on Norfolk Southern from $266.00 to $258.00 in a research note on Monday, March 20th. Morgan Stanley dropped their price objective on Norfolk Southern from $177.00 to $174.00 in a research note on Friday, April 28th. Wolfe Research upgraded Norfolk Southern from a peer perform rating to an outperform rating and set a $255.00 target price for the company in a research note on Tuesday, February 21st. Finally, Benchmark decreased their price target on Norfolk Southern from $280.00 to $270.00 and set a buy rating on the stock in a report on Thursday, January 26th. Twelve equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. Based on data from MarketBeat.com, the stock has an average rating of Moderate Buy and a consensus target price of $242.48.
Norfolk Southern Stock Up 0.1 %
NSC stock opened at $211.22 on Monday. Norfolk Southern has a one year low of $196.33 and a one year high of $264.22. The stock has a market capitalization of $48.08 billion, a PE ratio of 16.24, a price-to-earnings-growth ratio of 2.43 and a beta of 1.29. The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.66 and a current ratio of 0.75. The company has a fifty day moving average of $207.73 and a 200-day moving average of $230.09.
Norfolk Southern Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Saturday, May 20th. Stockholders of record on Friday, May 5th were issued a dividend of $1.35 per share. The ex-dividend date was Thursday, May 4th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.56%. Norfolk Southern’s dividend payout ratio is currently 41.51%.
Institutional Trading of Norfolk Southern
Several large investors have recently modified their holdings of NSC. Empower Advisory Group LLC acquired a new position in shares of Norfolk Southern in the 1st quarter valued at $356,000. Brandywine Global Investment Management LLC acquired a new stake in shares of Norfolk Southern during the 1st quarter worth about $12,918,000. Old North State Trust LLC increased its position in shares of Norfolk Southern by 280.8% during the 1st quarter. Old North State Trust LLC now owns 5,088 shares of the railroad operator’s stock worth $285,000 after purchasing an additional 3,752 shares in the last quarter. Toroso Investments LLC increased its position in shares of Norfolk Southern by 16.8% during the 1st quarter. Toroso Investments LLC now owns 11,551 shares of the railroad operator’s stock worth $2,449,000 after purchasing an additional 1,663 shares in the last quarter. Finally, 3Chopt Investment Partners LLC acquired a new stake in shares of Norfolk Southern during the 1st quarter worth about $1,076,000. 72.98% of the stock is owned by institutional investors.
Norfolk Southern Company Profile
Norfolk Southern Corp. is a transportation company, which engages in the rail transportation of raw materials, intermediate products, and finished goods. The company also transports overseas freight through several Atlantic and Gulf Coast ports. Its services include property leases and sales, wire line or pipeline and fiber optics projects, access property, managing private crossings, promoting businesses with signboards, and natural resource management.
- Get a free copy of the StockNews.com research report on Norfolk Southern (NSC)
- Ralph Lauren’s Styled Dividend Is Still In Season
- Dollar Tree Falls As Theft Cuts Into Bottom Line
- Best Buy’s Comeback Is Still At Play, Earnings Call For Patience
- e.l.f. Beauty Has Giant Quarter, Shares Hit New High
- If You Can Only Pick One Stock For The Rest Of 2023, Pick Nvidia
Receive News & Ratings for Norfolk Southern Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Norfolk Southern and related companies with MarketBeat.com's FREE daily email newsletter.