Yakira Capital Management Inc. Boosts Stake in Norfolk Southern Corporation $NSC

Yakira Capital Management Inc. raised its holdings in Norfolk Southern Corporation (NYSE:NSC) by 33.3% in the 4th quarter, HoldingsChannel.com reports. The institutional investor owned 19,700 shares of the railroad operator’s stock after acquiring an additional 4,925 shares during the quarter. Norfolk Southern comprises approximately 1.9% of Yakira Capital Management Inc.’s investment portfolio, making the stock its 18th largest holding. Yakira Capital Management Inc.’s holdings in Norfolk Southern were worth $5,688,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Picton Mahoney Asset Management purchased a new position in Norfolk Southern in the 3rd quarter valued at approximately $24,033,000. Primecap Management Co. CA boosted its position in Norfolk Southern by 7.9% in the 3rd quarter. Primecap Management Co. CA now owns 1,132,583 shares of the railroad operator’s stock valued at $340,239,000 after buying an additional 82,500 shares during the period. O Shaughnessy Asset Management LLC boosted its position in Norfolk Southern by 9.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock valued at $12,533,000 after buying an additional 3,887 shares during the period. NEOS Investment Management LLC boosted its position in Norfolk Southern by 47.0% in the 3rd quarter. NEOS Investment Management LLC now owns 25,298 shares of the railroad operator’s stock valued at $7,600,000 after buying an additional 8,090 shares during the period. Finally, Elo Mutual Pension Insurance Co boosted its position in Norfolk Southern by 11.7% in the 3rd quarter. Elo Mutual Pension Insurance Co now owns 15,143 shares of the railroad operator’s stock valued at $4,549,000 after buying an additional 1,587 shares during the period. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $314.05 on Monday. The company’s fifty day moving average price is $308.35 and its 200 day moving average price is $300.20. Norfolk Southern Corporation has a 12 month low of $247.85 and a 12 month high of $326.00. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. The firm has a market capitalization of $70.53 billion, a P/E ratio of 26.46, a P/E/G ratio of 5.79 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data 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 company had revenue of $3 billion for 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%. Norfolk Southern’s quarterly revenue was up .2% on a year-over-year basis. During the same period in the previous year, the business posted $2.69 earnings per share. As a group, sell-side analysts predict that Norfolk Southern Corporation will post 12.12 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Shareholders of record on Friday, May 8th were paid a $1.35 dividend. The ex-dividend date was Friday, May 8th. This represents a $5.40 dividend on an annualized basis and a yield of 1.7%. Norfolk Southern’s payout ratio is currently 45.49%.

Wall Street Analyst Weigh In

NSC has been the subject of several recent analyst reports. TD Cowen lifted their price objective on shares of Norfolk Southern from $313.00 to $337.00 and gave the stock a “buy” rating in a research report on Monday, April 27th. Argus raised shares of Norfolk Southern to a “hold” rating in a research report on Wednesday, February 25th. Barclays lifted their price objective on shares of Norfolk Southern from $320.00 to $360.00 and gave the stock an “overweight” rating in a research report on Monday, April 27th. Weiss Ratings cut shares of Norfolk Southern from a “buy (b-)” rating to a “hold (c+)” rating in a research report 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 stock a “market perform” rating in a research report on Monday, April 27th. Six equities research analysts have rated the stock with a Buy rating and sixteen have given a Hold rating to the company. According to MarketBeat.com, Norfolk Southern presently has an average rating of “Hold” and a consensus target price of $322.71.

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.