Credit Suisse Group reiterated their outperform rating on shares of Norfolk Southern (NYSE:NSC) in a report released on Thursday. Credit Suisse Group currently has a $166.00 price objective on the railroad operator’s stock, down from their prior price objective of $178.00.
Several other research firms have also weighed in on NSC. Cleveland Research reaffirmed a hold rating on shares of Norfolk Southern in a research note on Monday, January 15th. Loop Capital increased their target price on Norfolk Southern to $144.00 and gave the company a sell rating in a research report on Friday, January 12th. Scotiabank upgraded Norfolk Southern from a sector perform rating to a buy rating and set a $165.00 target price for the company in a research report on Friday, January 12th. Royal Bank of Canada reiterated a sell rating and issued a $137.00 target price on shares of Norfolk Southern in a research report on Tuesday, January 9th. Finally, BMO Capital Markets reiterated a hold rating and issued a $156.00 target price on shares of Norfolk Southern in a research report on Monday, January 8th. Three analysts have rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company’s stock. The company presently has a consensus rating of Hold and an average target price of $140.15.
Shares of Norfolk Southern (NYSE:NSC) opened at $145.53 on Thursday. The firm has a market capitalization of $41,330.09, a PE ratio of 21.95, a P/E/G ratio of 1.44 and a beta of 1.32. The company has a debt-to-equity ratio of 0.56, a current ratio of 0.84 and a quick ratio of 0.76. Norfolk Southern has a 12 month low of $109.27 and a 12 month high of $157.15.
The business also recently disclosed a quarterly dividend, which was paid on Saturday, March 10th. Stockholders of record on Friday, February 2nd were given a dividend of $0.72 per share. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.98%. This is an increase from Norfolk Southern’s previous quarterly dividend of $0.61. The ex-dividend date of this dividend was Thursday, February 1st. Norfolk Southern’s dividend payout ratio (DPR) is 15.38%.
In other news, VP Thomas E. Hurlbut sold 467 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $150.17, for a total transaction of $70,129.39. Following the completion of the transaction, the vice president now directly owns 5,000 shares in the company, valued at $750,850. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman James A. Squires sold 10,000 shares of the firm’s stock in a transaction dated Thursday, February 1st. The stock was sold at an average price of $150.10, for a total value of $1,501,000.00. The disclosure for this sale can be found here. Insiders have sold 13,166 shares of company stock valued at $1,958,040 over the last 90 days. 0.36% of the stock is owned by corporate insiders.
Several institutional investors and hedge funds have recently modified their holdings of the company. Cambridge Investment Research Advisors Inc. increased its holdings in Norfolk Southern by 2.1% in the fourth quarter. Cambridge Investment Research Advisors Inc. now owns 29,844 shares of the railroad operator’s stock worth $4,324,000 after purchasing an additional 626 shares in the last quarter. Certified Advisory Corp bought a new stake in Norfolk Southern in the fourth quarter worth approximately $137,000. Colonial Trust Advisors increased its holdings in Norfolk Southern by 8.0% in the fourth quarter. Colonial Trust Advisors now owns 21,021 shares of the railroad operator’s stock worth $3,046,000 after purchasing an additional 1,564 shares in the last quarter. Cedar Hill Associates LLC increased its holdings in Norfolk Southern by 75.5% in the fourth quarter. Cedar Hill Associates LLC now owns 2,790 shares of the railroad operator’s stock worth $403,000 after purchasing an additional 1,200 shares in the last quarter. Finally, Xact Kapitalforvaltning AB increased its holdings in Norfolk Southern by 6.2% in the fourth quarter. Xact Kapitalforvaltning AB now owns 51,892 shares of the railroad operator’s stock worth $7,519,000 after purchasing an additional 3,026 shares in the last quarter. Institutional investors own 71.57% of the company’s stock.
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Norfolk Southern Company Profile
Norfolk Southern Corporation is a holding company engaged in the rail transportation business. As of December 31, 2016, the Company operated approximately 19,500 miles of road primarily in the East and Midwest. The Company is engaged in the rail transportation of raw materials, intermediate products and finished goods primarily in the Southeast, East and Midwest.
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