Stock Traders Buy Large Volume of Call Options on Norfolk Southern (NYSE:NSC)

Norfolk Southern Corporation (NYSE:NSC) was the target of some unusual options trading on Wednesday. Stock traders purchased 4,188 call options on the company. This represents an increase of approximately 856% compared to the average daily volume of 438 call options.

Analysts Set New Price Targets

Several equities research analysts have weighed in on the company. Citigroup increased their target price on Norfolk Southern from $347.00 to $349.00 and gave the stock a “neutral” rating in a research report on Friday, October 23rd. Barclays raised their target price on Norfolk Southern from $360.00 to $400.00 and gave the company an “overweight” rating in a research note on Friday, July 24th. Wells Fargo & Company boosted their price target on shares of Norfolk Southern from $365.00 to $385.00 and gave the company an “overweight” rating in a report on Friday, July 24th. BMO Capital Markets upped their price target on shares of Norfolk Southern from $310.00 to $355.00 and gave the stock a “market perform” rating in a research report on Monday, July 27th. Finally, Susquehanna dropped their price objective on shares of Norfolk Southern from $386.00 to $350.00 and set a “neutral” rating on the stock in a report on Friday, October 2nd. Seven analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $348.81.

Institutional Inflows and Outflows

Several institutional investors and hedge funds have recently modified their holdings of the business. BlackRock Inc. acquired a new position in shares of Norfolk Southern during the second quarter valued at $5,033,549,000. Bank of America Corp DE acquired a new stake in Norfolk Southern in the second quarter worth about $978,977,000. Legal & General Group Plc bought a new position in Norfolk Southern in the 2nd quarter valued at about $503,093,000. Bank of New York Mellon Corp bought a new position in Norfolk Southern in the 2nd quarter valued at about $364,414,000. Finally, Deutsche Bank AG acquired a new stake in shares of Norfolk Southern in the 2nd quarter worth approximately $356,558,000. Institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NYSE NSC opened at $330.32 on Thursday. The company has a current ratio of 0.90, a quick ratio of 0.81 and a debt-to-equity ratio of 0.95. The stock has a 50 day simple moving average of $324.06 and a 200-day simple moving average of $316.69. The company has a market cap of $74.20 billion, a PE ratio of 27.69, a P/E/G ratio of 4.88 and a beta of 1.20. Norfolk Southern has a 12-month low of $277.80 and a 12-month high of $358.60.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Thursday, October 22nd. The railroad operator reported $3.62 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $3.46 by $0.16. Norfolk Southern had a return on equity of 18.22% and a net margin of 20.70%. The business had revenue of $3.53 billion during the quarter, compared to analyst estimates of $3.48 billion. During the same period in the prior year, the company posted $3.30 EPS. The business’s revenue for the quarter was up 13.6% compared to the same quarter last year. On average, equities research analysts forecast that Norfolk Southern will post 12.87 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Friday, November 20th. Shareholders of record on Friday, November 6th will be given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date is Friday, November 6th. Norfolk Southern’s payout ratio is 45.26%.

About Norfolk Southern

Norfolk Southern Corporation is a freight transportation company that operates a major railroad network across the eastern United States. Its rail services connect businesses, ports and communities, and link with other railroads to move goods across North America. The company transports a broad range of products, including coal, chemicals, agricultural goods, automotive vehicles and parts, metals, construction materials and consumer products. Its services include intermodal transportation, which combines rail with truck or container shipping, as well as rail freight and logistics solutions.