Scotiabank Analysts Give Norfolk Southern (NSC) a $167.00 Price Target
A number of other analysts also recently issued reports on NSC. ValuEngine raised shares of Norfolk Southern from a hold rating to a buy rating in a report on Sunday, December 31st. BMO Capital Markets reaffirmed a hold rating and set a $156.00 price objective on shares of Norfolk Southern in a report on Monday, January 8th. Royal Bank of Canada reaffirmed a sell rating and set a $137.00 price objective on shares of Norfolk Southern in a report on Tuesday, January 9th. Loop Capital boosted their price target on shares of Norfolk Southern to $144.00 and gave the stock a sell rating in a research note on Friday, January 12th. Finally, Cleveland Research reissued a hold rating on shares of Norfolk Southern in a research note on Monday, January 15th. Three investment analysts have rated the stock with a sell rating, fourteen have issued a hold rating and eight have issued a buy rating to the stock. The company has an average rating of Hold and an average price target of $144.90.
Shares of NYSE NSC traded up $1.93 during mid-day trading on Wednesday, reaching $146.62. 1,413,661 shares of the company were exchanged, compared to its average volume of 2,056,381. Norfolk Southern has a 52 week low of $111.21 and a 52 week high of $157.15. The company has a debt-to-equity ratio of 0.59, a quick ratio of 0.76 and a current ratio of 1.04. The company has a market capitalization of $40,880.99, a P/E ratio of 22.18, a P/E/G ratio of 1.43 and a beta of 1.31.
The company also recently disclosed a quarterly dividend, which will be paid on Monday, June 11th. Shareholders of record on Friday, May 4th will be given a $0.72 dividend. This represents a $2.88 dividend on an annualized basis and a dividend yield of 1.96%. The ex-dividend date is Thursday, May 3rd. Norfolk Southern’s payout ratio is 43.57%.
In other Norfolk Southern news, VP Thomas E. Hurlbut sold 467 shares of the business’s stock in a transaction dated Thursday, February 1st. The shares were sold at an average price of $150.17, for a total value of $70,129.39. Following the transaction, the vice president now owns 5,000 shares in the company, valued at $750,850. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, VP Thomas E. Hurlbut sold 1,000 shares of the business’s stock in a transaction dated Friday, February 16th. The shares were sold at an average price of $142.90, for a total transaction of $142,900.00. The disclosure for this sale can be found here. Insiders sold 13,166 shares of company stock worth $1,958,040 in the last 90 days. Corporate insiders own 0.36% of the company’s stock.
Several hedge funds have recently added to or reduced their stakes in NSC. Sawyer & Company Inc purchased a new position in shares of Norfolk Southern in the fourth quarter valued at about $104,000. Arcadia Investment Management Corp MI increased its position in shares of Norfolk Southern by 165.1% during the fourth quarter. Arcadia Investment Management Corp MI now owns 835 shares of the railroad operator’s stock valued at $121,000 after buying an additional 520 shares during the period. Certified Advisory Corp purchased a new position in shares of Norfolk Southern during the fourth quarter valued at about $137,000. Welch Investments LLC purchased a new position in shares of Norfolk Southern during the fourth quarter valued at about $156,000. Finally, Woodard & Co. Asset Management Group Inc. ADV purchased a new position in shares of Norfolk Southern during the fourth quarter valued at about $163,000. Hedge funds and other institutional investors own 72.29% 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. It also transports overseas freight through various Atlantic and Gulf Coast ports, as well as coal, automotive, and industrial products; and provides commuter passenger services.
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