Royal Bank of Canada Increases Norfolk Southern (NYSE:NSC) Price Target to $282.00

Norfolk Southern (NYSE:NSC - Free Report) had its price target raised by Royal Bank of Canada from $272.00 to $282.00 in a research note published on Wednesday, Benzinga reports. Royal Bank of Canada currently has an outperform rating on the railroad operator's stock.

NSC has been the subject of several other research reports. Morgan Stanley reaffirmed an "underweight" rating and set a $175.00 target price on shares of Norfolk Southern in a report on Monday, July 8th. Stephens reaffirmed an "equal weight" rating and issued a $263.00 target price on shares of Norfolk Southern in a research report on Wednesday. Sanford C. Bernstein lifted their price target on Norfolk Southern from $285.00 to $286.00 and gave the stock an "outperform" rating in a report on Wednesday, October 9th. Wells Fargo & Company upped their price objective on Norfolk Southern from $270.00 to $280.00 and gave the company an "overweight" rating in a report on Wednesday. Finally, Evercore ISI dropped their target price on Norfolk Southern from $276.00 to $274.00 and set an "outperform" rating for the company in a report on Wednesday. One analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $274.16.

Norfolk Southern Stock Down 1.3 %

Shares of NYSE:NSC traded down $3.45 during trading on Wednesday, hitting $256.98. 1,553,996 shares of the company were exchanged, compared to its average volume of 1,259,925. The firm has a fifty day moving average price of $248.76 and a two-hundred day moving average price of $236.88. Norfolk Southern has a fifty-two week low of $183.09 and a fifty-two week high of $263.66. The stock has a market cap of $58.06 billion, a price-to-earnings ratio of 41.38, a P/E/G ratio of 2.33 and a beta of 1.31. The company has a current ratio of 0.63, a quick ratio of 0.54 and a debt-to-equity ratio of 1.30.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings data on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.11 by $0.14. The company had revenue of $3.10 billion during the quarter, compared to analysts' expectations of $3.08 billion. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. The business's revenue was up 3.3% on a year-over-year basis. During the same period last year, the firm posted $2.65 earnings per share. As a group, research analysts anticipate that Norfolk Southern will post 11.79 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be issued a dividend of $1.35 per share. The ex-dividend date is Friday, November 1st. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.10%. Norfolk Southern's dividend payout ratio (DPR) is currently 86.96%.

Insider Activity at Norfolk Southern

In related news, CEO Alan H. Shaw sold 51,325 shares of Norfolk Southern stock in a transaction that occurred on Friday, September 13th. The shares were sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the sale, the chief executive officer now directly owns 35,045 shares of the company's stock, valued at approximately $8,970,819.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Alan H. Shaw sold 51,325 shares of the business's stock in a transaction on Friday, September 13th. The stock was sold at an average price of $255.98, for a total transaction of $13,138,173.50. Following the sale, the chief executive officer now owns 35,045 shares in the company, valued at $8,970,819.10. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Director Richard H. Anderson bought 2,000 shares of the stock in a transaction on Monday, July 29th. The stock was purchased at an average cost of $247.48 per share, with a total value of $494,960.00. Following the acquisition, the director now owns 3,000 shares in the company, valued at approximately $742,440. This represents a 200.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. 0.19% of the stock is currently owned by insiders.

Institutional Inflows and Outflows

A number of large investors have recently added to or reduced their stakes in the business. Lake Street Advisors Group LLC raised its stake in shares of Norfolk Southern by 1.8% during the third quarter. Lake Street Advisors Group LLC now owns 2,265 shares of the railroad operator's stock valued at $563,000 after acquiring an additional 41 shares during the last quarter. Hall Capital Management Co. Inc. grew its position in shares of Norfolk Southern by 2.8% in the 2nd quarter. Hall Capital Management Co. Inc. now owns 1,516 shares of the railroad operator's stock valued at $325,000 after buying an additional 42 shares during the last quarter. Blue Chip Partners LLC increased its stake in shares of Norfolk Southern by 0.5% in the second quarter. Blue Chip Partners LLC now owns 7,716 shares of the railroad operator's stock valued at $1,656,000 after buying an additional 42 shares during the period. Stephens Consulting LLC increased its stake in shares of Norfolk Southern by 12.4% in the second quarter. Stephens Consulting LLC now owns 381 shares of the railroad operator's stock valued at $82,000 after buying an additional 42 shares during the period. Finally, Foster Victor Wealth Advisors LLC raised its position in shares of Norfolk Southern by 4.2% during the third quarter. Foster Victor Wealth Advisors LLC now owns 1,043 shares of the railroad operator's stock worth $256,000 after acquiring an additional 42 shares during the last quarter. Institutional investors own 75.10% of the company's stock.

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.