Norfolk Southern (NYSE:NSC) Sees Unusually-High Trading Volume After Analyst Upgrade

Norfolk Southern Corporation (NYSE:NSC - Get Free Report) shares saw unusually-high trading volume on Friday after Bank of America raised their price target on the stock from $290.00 to $305.00. Bank of America currently has a buy rating on the stock. Approximately 2,023,537 shares changed hands during mid-day trading, an increase of 62% from the previous session's volume of 1,252,050 shares.The stock last traded at $278.45 and had previously closed at $269.81.

Several other equities research analysts also recently weighed in on the company. Susquehanna reissued a "neutral" rating and issued a $260.00 price objective (up from $250.00) on shares of Norfolk Southern in a report on Tuesday, June 24th. The Goldman Sachs Group reiterated a "neutral" rating and issued a $278.00 price objective on shares of Norfolk Southern in a research report on Monday, June 2nd. UBS Group increased their price objective on Norfolk Southern from $275.00 to $279.00 and gave the stock a "buy" rating in a research report on Friday, May 30th. JPMorgan Chase & Co. increased their price objective on Norfolk Southern from $272.00 to $282.00 and gave the stock an "overweight" rating in a research report on Tuesday, July 8th. Finally, Evercore ISI decreased their price objective on Norfolk Southern from $284.00 to $269.00 and set an "outperform" rating on the stock in a research note on Thursday, April 24th. Ten research analysts have rated the stock with a hold rating and eleven have assigned a buy rating to the company's stock. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus price target of $274.55.

Institutional Investors Weigh In On Norfolk Southern

A number of institutional investors have recently made changes to their positions in NSC. SeaCrest Wealth Management LLC boosted its position in Norfolk Southern by 1.7% during the 2nd quarter. SeaCrest Wealth Management LLC now owns 2,429 shares of the railroad operator's stock valued at $622,000 after purchasing an additional 40 shares during the period. Pinnacle Bancorp Inc. boosted its position in Norfolk Southern by 30.5% during the 2nd quarter. Pinnacle Bancorp Inc. now owns 184 shares of the railroad operator's stock worth $47,000 after acquiring an additional 43 shares during the period. Strategic Investment Solutions Inc. IL raised its stake in shares of Norfolk Southern by 16.9% in the 4th quarter. Strategic Investment Solutions Inc. IL now owns 304 shares of the railroad operator's stock worth $71,000 after buying an additional 44 shares in the last quarter. CoreCap Advisors LLC raised its stake in shares of Norfolk Southern by 1.5% in the 4th quarter. CoreCap Advisors LLC now owns 3,097 shares of the railroad operator's stock worth $727,000 after buying an additional 45 shares in the last quarter. Finally, Canandaigua National Trust Co of Florida raised its stake in shares of Norfolk Southern by 4.9% in the 1st quarter. Canandaigua National Trust Co of Florida now owns 956 shares of the railroad operator's stock worth $226,000 after buying an additional 45 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Stock Up 3.0%

The company has a debt-to-equity ratio of 1.15, a quick ratio of 0.70 and a current ratio of 0.78. The stock has a 50 day moving average price of $251.33 and a 200 day moving average price of $241.42. The company has a market cap of $62.62 billion, a P/E ratio of 18.98, a P/E/G ratio of 2.13 and a beta of 1.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings data on Wednesday, April 23rd. The railroad operator reported $2.69 EPS for the quarter, missing analysts' consensus estimates of $2.72 by ($0.03). The firm had revenue of $2.99 billion during the quarter, compared to the consensus estimate of $3.01 billion. Norfolk Southern had a return on equity of 19.65% and a net margin of 27.40%. The firm's quarterly revenue was down .4% on a year-over-year basis. During the same period in the prior year, the firm posted $2.49 EPS. Research analysts expect that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Investors of record on Friday, May 2nd were given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a yield of 1.94%. The ex-dividend date of this dividend was Friday, May 2nd. Norfolk Southern's payout ratio is 36.89%.

Norfolk Southern Company Profile

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, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; 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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