Norfolk Southern (NYSE:NSC) Reaches New 52-Week High – Here’s Why

Norfolk Southern Corporation (NYSE:NSC)’s share price hit a new 52-week high during mid-day trading on Wednesday . The stock traded as high as $304.24 and last traded at $302.20, with a volume of 105877 shares. The stock had previously closed at $298.32.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on NSC. Susquehanna increased their price target on Norfolk Southern from $304.00 to $305.00 and gave the stock a “neutral” rating in a research report on Friday, January 30th. Barclays lowered their target price on Norfolk Southern from $340.00 to $320.00 and set an “overweight” rating on the stock in a research note on Friday. Morgan Stanley raised Norfolk Southern from an “equal weight” rating to a “buy” rating in a report on Thursday, December 18th. JPMorgan Chase & Co. reduced their price target on Norfolk Southern from $301.00 to $296.00 and set a “neutral” rating for the company in a research report on Friday, January 30th. Finally, Sanford C. Bernstein lowered their price objective on Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating on the stock in a research report on Tuesday, November 11th. Eight equities research analysts have rated the stock with a Buy rating, fourteen have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, Norfolk Southern currently has a consensus rating of “Hold” and a consensus price target of $303.32.

Norfolk Southern Stock Up 1.8%

The company has a market cap of $68.16 billion, a price-to-earnings ratio of 23.80, a PEG ratio of 5.18 and a beta of 1.34. The business has a fifty day moving average of $290.74 and a two-hundred day moving average of $286.33. The company has a current ratio of 0.85, a quick ratio of 0.78 and a debt-to-equity ratio of 1.06.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 EPS for the quarter, beating the consensus estimate of $2.76 by $0.46. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3.03 billion. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.Norfolk Southern’s quarterly revenue was down 1.7% compared to the same quarter last year. During the same period last year, the company earned $3.04 earnings per share. As a group, equities analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Friday, February 6th will be issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.8%. The ex-dividend date of this dividend is Friday, February 6th. Norfolk Southern’s payout ratio is presently 42.35%.

Insider Buying and Selling at Norfolk Southern

In related news, EVP Anil Bhatt sold 900 shares of the company’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $281.60, for a total transaction of $253,440.00. Following the completion of the transaction, the executive vice president owned 1,413 shares in the company, valued at $397,900.80. This represents a 38.91% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director William Jr. Clyburn purchased 204 shares of the firm’s stock in a transaction that occurred on Friday, December 5th. The stock was bought at an average cost of $294.79 per share, for a total transaction of $60,137.16. Following the completion of the purchase, the director directly owned 405 shares in the company, valued at $119,389.95. This represents a 101.49% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Company insiders own 0.06% of the company’s stock.

Hedge Funds Weigh In On Norfolk Southern

Several hedge funds and other institutional investors have recently made changes to their positions in the company. Aberdeen Group plc grew its stake in shares of Norfolk Southern by 6.4% in the second quarter. Aberdeen Group plc now owns 529,726 shares of the railroad operator’s stock valued at $135,610,000 after buying an additional 31,878 shares in the last quarter. Park Place Capital Corp boosted its holdings in Norfolk Southern by 13,000.0% during the 3rd quarter. Park Place Capital Corp now owns 3,668 shares of the railroad operator’s stock valued at $1,102,000 after acquiring an additional 3,640 shares during the period. Morningstar Investment Management LLC acquired a new position in Norfolk Southern in the 2nd quarter valued at about $597,000. Fjarde AP Fonden Fourth Swedish National Pension Fund increased its stake in Norfolk Southern by 682.1% during the second quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 56,012 shares of the railroad operator’s stock worth $14,337,000 after purchasing an additional 48,850 shares during the period. Finally, Markel Group Inc. lifted its position in shares of Norfolk Southern by 8.5% during the third quarter. Markel Group Inc. now owns 256,500 shares of the railroad operator’s stock worth $77,055,000 after purchasing an additional 20,000 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 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.