Norfolk Southern (NYSE:NSC) Given New $259.00 Price Target at Citigroup

Norfolk Southern (NYSE:NSC) had its price objective cut by Citigroup from $298.00 to $259.00 in a report released on Tuesday morning,Benzinga reports. They currently have a buy rating on the railroad operator’s stock.

Several other equities analysts have also commented on NSC. Robert W. Baird raised their price objective on Norfolk Southern from $260.00 to $270.00 and gave the company a “neutral” rating in a research report on Thursday, January 30th. Loop Capital cut shares of Norfolk Southern from a “buy” rating to a “hold” rating and lowered their price target for the company from $289.00 to $256.00 in a research report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft assumed coverage on shares of Norfolk Southern in a report on Friday, March 7th. They issued a “buy” rating and a $293.00 price objective on the stock. Benchmark reiterated a “buy” rating and set a $285.00 target price on shares of Norfolk Southern in a report on Thursday, January 30th. Finally, Barclays cut their price target on Norfolk Southern from $305.00 to $290.00 and set an “overweight” rating on the stock in a research note on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, six have issued a hold rating and twelve have issued a buy rating to the stock. Based on data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $269.74.

Norfolk Southern Trading Down 1.1 %

Shares of NSC opened at $205.85 on Tuesday. Norfolk Southern has a 1-year low of $201.63 and a 1-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 firm’s 50-day moving average price is $239.97 and its 200-day moving average price is $247.45. The firm has a market capitalization of $50.75 billion, a price-to-earnings ratio of 17.81, a PEG ratio of 2.31 and a beta of 1.30.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a return on equity of 20.04% and a net margin of 21.63%. Sell-side analysts anticipate that Norfolk Southern will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.62%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

Insider Buying and Selling at Norfolk Southern

In other news, Director Gilbert H. Lamphere purchased 607 shares of the business’s stock in a transaction on Friday, January 31st. The stock was acquired at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the purchase, the director now directly owns 2,487 shares in the company, valued at $646,271.82. This trade represents a 32.29 % increase in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Norfolk Southern

A number of institutional investors and hedge funds have recently made changes to their positions in NSC. Rhumbline Advisers boosted its stake in shares of Norfolk Southern by 2.8% during the 1st quarter. Rhumbline Advisers now owns 435,465 shares of the railroad operator’s stock worth $103,140,000 after acquiring an additional 11,708 shares during the last quarter. Fifth Third Wealth Advisors LLC raised its holdings in Norfolk Southern by 4.4% in the 1st quarter. Fifth Third Wealth Advisors LLC now owns 3,204 shares of the railroad operator’s stock worth $759,000 after purchasing an additional 135 shares during the period. Beese Fulmer Investment Management Inc. lifted its position in Norfolk Southern by 29.5% during the first quarter. Beese Fulmer Investment Management Inc. now owns 10,539 shares of the railroad operator’s stock valued at $2,496,000 after purchasing an additional 2,400 shares in the last quarter. Somerset Trust Co grew its holdings in Norfolk Southern by 4.1% during the first quarter. Somerset Trust Co now owns 17,396 shares of the railroad operator’s stock valued at $4,120,000 after purchasing an additional 692 shares during the period. Finally, BTC Capital Management Inc. increased its position in Norfolk Southern by 2.5% in the first quarter. BTC Capital Management Inc. now owns 37,995 shares of the railroad operator’s stock worth $9,000,000 after buying an additional 934 shares in the last quarter. Hedge funds and other 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.