ATLANTA—William Clyburn Jr., a director at Norfolk Southern Corp. (NYSE:NSC), recently acquired shares in the company, according to a filing with the Securities and Exchange Commission. On December 13, Clyburn purchased 201 shares of common stock at an average price of $248.41 per share, amounting to a total transaction value of approximately $49,930. The $55.7 billion market cap railroad operator currently trades at a P/E ratio of 23.2x and offers a 2.19% dividend yield. According to InvestingPro data, the company has maintained dividend payments for 43 consecutive years and boasts impressive gross profit margins of 48.37%.
Following this transaction, Clyburn's direct ownership of Norfolk Southern stock stands at 201 shares. For investors seeking deeper insights, InvestingPro offers 8 additional key tips and a comprehensive Pro Research Report, available with a subscription. The purchase reflects his continued investment in the company, which operates in the rail transportation sector.
In other recent news, Norfolk Southern Corporation (NYSE:NSC) has been making significant strides in the rail transport industry. The company reported a 23% increase in adjusted earnings per share, hitting $3.25, and a 3% rise in revenue, reaching $3.05 billion. This robust performance prompted several analyst firms, including TD Cowen, Loop Capital, and RBC Capital Markets, to adjust their price targets for the company.
RBC Capital, in particular, adjusted its price target for Norfolk Southern's shares to $275.00, a decrease from the previous target of $282.00, while maintaining an Outperform rating. This revision was due to lowered fourth-quarter earnings estimates, which now stand at $2.94 per share. The firm also provided insights into its expectations for the company's operating ratio for 2024, which is anticipated to be 65.9%.
In addition, Norfolk Southern announced the appointment of a new independent director to its Board of Directors, following an agreement with Ancora Holdings Group. The company also formed a Customer Advisory Board to enhance its services and align operations more closely with the evolving needs of its clientele. These are some of the recent developments in Norfolk Southern Corporation.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.