Moore Capital Management LP Raises Position in Norfolk Southern Corporation $NSC

Moore Capital Management LP lifted its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 28.1% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,818 shares of the railroad operator’s stock after purchasing an additional 9,172 shares during the period. Moore Capital Management LP’s holdings in Norfolk Southern were worth $12,074,000 at the end of the most recent quarter.

Several other large investors also recently modified their holdings of the stock. Investment Management Corp of Ontario increased its stake in shares of Norfolk Southern by 71.5% during the 4th quarter. Investment Management Corp of Ontario now owns 20,121 shares of the railroad operator’s stock worth $5,809,000 after purchasing an additional 8,387 shares during the last quarter. Janus Henderson Group PLC increased its stake in shares of Norfolk Southern by 1.1% during the 4th quarter. Janus Henderson Group PLC now owns 42,374 shares of the railroad operator’s stock worth $12,237,000 after purchasing an additional 458 shares during the last quarter. Gotham Asset Management LLC increased its stake in shares of Norfolk Southern by 37.2% during the 4th quarter. Gotham Asset Management LLC now owns 90,407 shares of the railroad operator’s stock worth $26,102,000 after purchasing an additional 24,527 shares during the last quarter. Governors Lane LP increased its stake in shares of Norfolk Southern by 46.9% during the 4th quarter. Governors Lane LP now owns 197,303 shares of the railroad operator’s stock worth $56,965,000 after purchasing an additional 63,001 shares during the last quarter. Finally, Evolve Private Wealth LLC purchased a new stake in shares of Norfolk Southern during the 4th quarter worth approximately $445,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms recently weighed in on NSC. Robert W. Baird lifted their price objective on shares of Norfolk Southern from $315.00 to $330.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Royal Bank Of Canada lifted their price objective on shares of Norfolk Southern from $310.00 to $360.00 and gave the company a “sector perform” rating in a research note on Friday, April 24th. Wolfe Research lifted their price objective on shares of Norfolk Southern from $350.00 to $355.00 and gave the company an “outperform” rating in a research note on Tuesday, April 7th. TD Cowen lifted their price objective on shares of Norfolk Southern from $313.00 to $337.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Finally, BMO Capital Markets lifted their price objective on shares of Norfolk Southern from $305.00 to $310.00 and gave the company a “market perform” rating in a research note on Monday, April 27th. Six analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $322.71.

Norfolk Southern Stock Down 3.4%

NSC opened at $300.38 on Thursday. The company has a fifty day moving average price of $309.49 and a 200-day moving average price of $300.56. The firm has a market capitalization of $67.46 billion, a P/E ratio of 25.31, a price-to-earnings-growth ratio of 5.74 and a beta of 1.27. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. Norfolk Southern Corporation has a one year low of $250.65 and a one year high of $326.00.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The business’s revenue for the quarter was up .2% on a year-over-year basis. During the same period in the previous year, the business earned $2.69 EPS. Equities research analysts expect that Norfolk Southern Corporation will post 12.12 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th were given a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date was Friday, May 8th. Norfolk Southern’s payout ratio is 45.49%.

Norfolk Southern Company Profile

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.