Norfolk Southern (NYSE:NSC) Sets New 12-Month High – Here’s What Happened

Norfolk Southern Corporation (NYSE:NSC) reached a new 52-week high during mid-day trading on Thursday . The company traded as high as $335.44 and last traded at $335.7240, with a volume of 20755 shares. The stock had previously closed at $328.54.

Analyst Upgrades and Downgrades

NSC has been the topic of a number of research reports. Jefferies Financial Group decreased their price target on shares of Norfolk Southern from $350.00 to $310.00 and set a “hold” rating on the stock in a research note on Monday, April 6th. Weiss Ratings downgraded shares of Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Monday, April 27th. Barclays boosted their price objective on Norfolk Southern from $320.00 to $360.00 and gave the stock an “overweight” rating in a report on Monday, April 27th. Wells Fargo & Company upped their target price on Norfolk Southern from $350.00 to $365.00 and gave the company an “overweight” rating in a research report on Wednesday, July 8th. Finally, BMO Capital Markets increased their target price on Norfolk Southern from $305.00 to $310.00 and gave the stock a “market perform” rating in a research note on Monday, April 27th. Seven investment analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company. According to MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $328.00.

Norfolk Southern Trading Up 3.0%

The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. The company has a market capitalization of $76.03 billion, a price-to-earnings ratio of 28.53, a P/E/G ratio of 5.97 and a beta of 1.27. The business’s 50-day moving average price is $313.74 and its two-hundred day moving average price is $303.83.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. The business had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The firm’s quarterly revenue was up .2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $2.69 earnings per share. Research analysts predict that Norfolk Southern Corporation will post 12.24 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend was Friday, May 8th. Norfolk Southern’s payout ratio is 45.49%.

Institutional Investors Weigh In On Norfolk Southern

Large investors have recently bought and sold shares of the company. Tema ETFs LLC lifted its holdings in shares of Norfolk Southern by 8.6% during the 2nd quarter. Tema ETFs LLC now owns 3,662 shares of the railroad operator’s stock worth $1,152,000 after acquiring an additional 290 shares during the period. Ausbil Investment Management Ltd increased its stake in Norfolk Southern by 6.4% in the second quarter. Ausbil Investment Management Ltd now owns 28,026 shares of the railroad operator’s stock valued at $8,940,000 after acquiring an additional 1,697 shares during the last quarter. E. Ohman J or Asset Management AB raised its position in Norfolk Southern by 0.9% during the second quarter. E. Ohman J or Asset Management AB now owns 7,707 shares of the railroad operator’s stock valued at $2,425,000 after purchasing an additional 70 shares in the last quarter. Handelsbanken Fonder AB raised its position in Norfolk Southern by 1.7% during the second quarter. Handelsbanken Fonder AB now owns 123,304 shares of the railroad operator’s stock valued at $38,790,000 after purchasing an additional 2,023 shares in the last quarter. Finally, Tenzing Financial LLC bought a new stake in Norfolk Southern during the second quarter worth $572,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

About Norfolk Southern

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.