Norfolk Southern Co. (NYSE:NSC) Declares Quarterly Dividend of $1.35

Norfolk Southern Co. (NYSE:NSC - Get Free Report) declared a quarterly dividend on Tuesday, April 22nd, RTT News reports. Shareholders of record on Friday, May 2nd will be paid a dividend of 1.35 per share by the railroad operator on Tuesday, May 20th. This represents a $5.40 annualized dividend and a yield of 2.42%. The ex-dividend date is Friday, May 2nd.

Norfolk Southern has increased its dividend payment by an average of 9.1% per year over the last three years. Norfolk Southern has a dividend payout ratio of 37.5% meaning its dividend is sufficiently covered by earnings. Research analysts expect Norfolk Southern to earn $14.72 per share next year, which means the company should continue to be able to cover its $5.40 annual dividend with an expected future payout ratio of 36.7%.

Norfolk Southern Trading Down 1.7 %

NSC stock traded down $3.96 during trading on Friday, hitting $222.72. The company had a trading volume of 455,239 shares, compared to its average volume of 1,312,324. Norfolk Southern has a one year low of $201.63 and a one year high of $277.60. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16. The business has a 50-day moving average of $231.08 and a 200-day moving average of $245.08. The stock has a market cap of $54.91 billion, a PE ratio of 19.27, a PEG ratio of 2.31 and a beta of 1.30.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 EPS for the quarter, missing the consensus estimate of $2.72 by ($0.03). Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. The business had revenue of $2.99 billion for the quarter, compared to analyst estimates of $3.01 billion. Research analysts predict that Norfolk Southern will post 13 earnings per share for the current fiscal year.

Insider Activity at Norfolk Southern

In other news, Director Gilbert H. Lamphere acquired 607 shares of Norfolk Southern stock in a transaction on Friday, January 31st. The stock was acquired at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of the acquisition, the director now owns 2,487 shares in the company, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. 0.06% of the stock is owned by company insiders.

Institutional Inflows and Outflows

An institutional investor recently raised its position in Norfolk Southern stock. Brighton Jones LLC grew its holdings in shares of Norfolk Southern Co. (NYSE:NSC - Free Report) by 4.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,706 shares of the railroad operator's stock after purchasing an additional 79 shares during the quarter. Brighton Jones LLC's holdings in Norfolk Southern were worth $400,000 at the end of the most recent reporting period. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

NSC has been the topic of several research reports. Benchmark reiterated a "buy" rating and set a $285.00 price objective on shares of Norfolk Southern in a report on Thursday, January 30th. Jefferies Financial Group reduced their price objective on Norfolk Southern from $285.00 to $260.00 and set a "buy" rating for the company in a research note on Wednesday, April 9th. Robert W. Baird upped their target price on Norfolk Southern from $260.00 to $270.00 and gave the stock a "neutral" rating in a research report on Thursday, January 30th. Stephens boosted their price target on shares of Norfolk Southern from $260.00 to $275.00 and gave the company an "equal weight" rating in a research note on Thursday, January 30th. Finally, Bank of America reduced their price objective on shares of Norfolk Southern from $292.00 to $272.00 and set a "buy" rating for the company in a report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, seven have issued a hold rating and twelve have given a buy rating to the stock. Based on data from MarketBeat, Norfolk Southern presently has a consensus rating of "Moderate Buy" and an average target price of $266.10.

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.