Norfolk Southern (NYSE:NSC) Upgraded to Hold at Argus

Argus upgraded shares of Norfolk Southern (NYSE:NSC) to a hold rating in a research note published on Wednesday,Zacks.com reports.

Other equities analysts have also recently issued research reports about the stock. JPMorgan Chase & Co. reduced their price target on shares of Norfolk Southern from $301.00 to $296.00 and set a “neutral” rating on the stock in a research report on Friday, January 30th. Susquehanna increased their target price on Norfolk Southern from $304.00 to $305.00 and gave the stock a “neutral” rating in a report on Friday, January 30th. Zacks Research downgraded Norfolk Southern from a “hold” rating to a “strong sell” rating in a report on Wednesday, November 19th. Evercore raised their price objective on Norfolk Southern from $298.00 to $299.00 in a research note on Thursday, December 18th. Finally, Benchmark reiterated a “hold” rating on shares of Norfolk Southern in a research note on Friday, January 30th. Seven analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, Norfolk Southern has a consensus rating of “Hold” and a consensus target price of $304.47.

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $313.10 on Wednesday. Norfolk Southern has a 52 week low of $201.63 and a 52 week high of $319.94. The company has a current ratio of 0.85, a quick ratio of 0.78 and a debt-to-equity ratio of 1.06. The stock has a market cap of $70.31 billion, a P/E ratio of 24.56, a price-to-earnings-growth ratio of 5.62 and a beta of 1.34. The stock has a 50 day moving average of $297.50 and a 200-day moving average of $290.17.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Thursday, January 29th. The railroad operator reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.46. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.03 billion. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. The firm’s quarterly revenue was down 1.7% on a year-over-year basis. During the same period in the prior year, the company posted $3.04 earnings per share. On average, analysts expect that Norfolk Southern will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Friday, February 20th. Shareholders of record on Friday, February 6th were given a $1.35 dividend. The ex-dividend date of this dividend was Friday, February 6th. This represents a $5.40 annualized dividend and a yield of 1.7%. Norfolk Southern’s dividend payout ratio (DPR) is currently 42.35%.

Insider Activity

In other news, Director William Jr. Clyburn purchased 204 shares of the stock in a transaction dated Friday, December 5th. The stock was acquired at an average price of $294.79 per share, for a total transaction of $60,137.16. Following the completion of the transaction, the director owned 405 shares of the company’s stock, valued at approximately $119,389.95. The trade was a 101.49% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 0.06% of the company’s stock.

Institutional Trading of Norfolk Southern

Several hedge funds have recently bought and sold shares of the company. Brighton Jones LLC raised its holdings in shares of Norfolk Southern by 4.9% during the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after buying an additional 79 shares during the last quarter. Intech Investment Management LLC grew its holdings in Norfolk Southern by 40.4% in the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock worth $1,527,000 after buying an additional 1,855 shares in the last quarter. Sivia Capital Partners LLC acquired a new stake in Norfolk Southern in the 2nd quarter valued at approximately $327,000. Schnieders Capital Management LLC. raised its stake in Norfolk Southern by 64.1% during the 2nd quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator’s stock valued at $1,094,000 after acquiring an additional 1,670 shares in the last quarter. Finally, World Investment Advisors boosted its position in Norfolk Southern by 1.1% during the 2nd quarter. World Investment Advisors now owns 11,763 shares of the railroad operator’s stock worth $3,011,000 after acquiring an additional 132 shares during the period. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Company Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.