Norfolk Southern (NYSE:NSC) Lowered to “Peer Perform” at Wolfe Research

Wolfe Research downgraded shares of Norfolk Southern (NYSE:NSCGet Rating) from an outperform rating to a peer perform rating in a report published on Thursday, MarketBeat reports. Wolfe Research currently has $245.00 price target on the railroad operator’s stock.

A number of other brokerages have also recently weighed in on NSC. Barclays raised their target price on shares of Norfolk Southern from $230.00 to $240.00 and gave the stock an equal weight rating in a report on Thursday, October 27th. Robert W. Baird lowered shares of Norfolk Southern from an outperform rating to a neutral rating and decreased their price objective for the stock from $280.00 to $240.00 in a research note on Friday, October 7th. Royal Bank of Canada raised shares of Norfolk Southern from an underperform rating to a sector perform rating and raised their price objective for the stock from $221.00 to $237.00 in a research note on Tuesday, November 1st. Stephens lifted their target price on shares of Norfolk Southern from $225.00 to $230.00 and gave the company an equal weight rating in a research note on Thursday, October 27th. Finally, Citigroup decreased their target price on shares of Norfolk Southern from $245.00 to $225.00 and set a neutral rating for the company in a research note on Thursday, September 29th. One equities research analyst has rated the stock with a sell rating, eleven have issued a hold rating and six have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of Hold and a consensus target price of $243.19.

Norfolk Southern Price Performance

NYSE NSC opened at $246.76 on Thursday. Norfolk Southern has a 12 month low of $203.65 and a 12 month high of $299.20. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.97 and a quick ratio of 0.87. The firm has a market capitalization of $57.13 billion, a PE ratio of 18.14, a P/E/G ratio of 1.95 and a beta of 1.32. The company’s 50 day simple moving average is $226.57 and its 200 day simple moving average is $235.62.

Norfolk Southern Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Monday, November 21st. Stockholders of record on Friday, November 4th will be given a dividend of $1.24 per share. The ex-dividend date of this dividend is Thursday, November 3rd. This represents a $4.96 annualized dividend and a dividend yield of 2.01%. Norfolk Southern’s dividend payout ratio (DPR) is currently 36.47%.

Institutional Trading of Norfolk Southern

Several institutional investors have recently made changes to their positions in NSC. National Pension Service boosted its position in Norfolk Southern by 0.9% in the third quarter. National Pension Service now owns 378,114 shares of the railroad operator’s stock valued at $81,124,000 after buying an additional 3,494 shares in the last quarter. CENTRAL TRUST Co boosted its position in Norfolk Southern by 1.1% in the third quarter. CENTRAL TRUST Co now owns 24,245 shares of the railroad operator’s stock valued at $5,083,000 after buying an additional 271 shares in the last quarter. M&T Bank Corp boosted its position in Norfolk Southern by 14.6% in the third quarter. M&T Bank Corp now owns 162,426 shares of the railroad operator’s stock valued at $34,053,000 after buying an additional 20,712 shares in the last quarter. Advisors Capital Management LLC boosted its position in Norfolk Southern by 34.0% in the third quarter. Advisors Capital Management LLC now owns 1,727 shares of the railroad operator’s stock valued at $435,000 after buying an additional 438 shares in the last quarter. Finally, Captrust Financial Advisors boosted its position in Norfolk Southern by 5.2% in the third quarter. Captrust Financial Advisors now owns 136,995 shares of the railroad operator’s stock valued at $28,721,000 after buying an additional 6,809 shares in the last quarter. 73.44% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Company Profile

(Get Rating)

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, scrap paper, beverages, canned goods, and consumer products; chemicals consist of sulfur and related chemicals, petroleum products, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, and sand; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.

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