Moore Capital Management LP Buys 9,172 Shares of Norfolk Southern Corporation $NSC

Moore Capital Management LP lifted its stake in shares of Norfolk Southern Corporation (NYSE:NSC) by 28.1% in the fourth quarter, HoldingsChannel.com reports. The fund owned 41,818 shares of the railroad operator’s stock after acquiring an additional 9,172 shares during the quarter. Moore Capital Management LP’s holdings in Norfolk Southern were worth $12,074,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. JPL Wealth Management LLC bought a new stake in shares of Norfolk Southern during the 3rd quarter worth $25,000. BNP Paribas bought a new stake in shares of Norfolk Southern during the 2nd quarter worth $26,000. GoalVest Advisory LLC lifted its holdings in shares of Norfolk Southern by 933.3% during the 4th quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock worth $27,000 after acquiring an additional 84 shares during the last quarter. Meeder Asset Management Inc. lifted its holdings in shares of Norfolk Southern by 239.3% during the 4th quarter. Meeder Asset Management Inc. now owns 95 shares of the railroad operator’s stock worth $27,000 after acquiring an additional 67 shares during the last quarter. Finally, FNY Investment Advisers LLC lifted its holdings in shares of Norfolk Southern by 669.2% during the 3rd quarter. FNY Investment Advisers LLC now owns 100 shares of the railroad operator’s stock worth $30,000 after acquiring an additional 87 shares during the last quarter. 75.10% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. UBS Group set a $327.00 price objective on shares of Norfolk Southern in a report on Thursday, May 7th. Susquehanna lifted their price objective on shares of Norfolk Southern from $330.00 to $337.00 and gave the stock a “neutral” rating in a report on Friday, June 5th. Wall Street Zen raised shares of Norfolk Southern from a “sell” rating to a “hold” rating in a report on Saturday, May 2nd. Jefferies Financial Group lowered their price target on shares of Norfolk Southern from $350.00 to $310.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Finally, Sanford C. Bernstein lowered their price target on shares of Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Six investment analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to data from MarketBeat, the company currently has an average rating of “Hold” and an average target price of $322.71.

Norfolk Southern Stock Performance

Norfolk Southern stock opened at $300.38 on Thursday. The company has a quick ratio of 0.81, a current ratio of 0.91 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $67.46 billion, a PE ratio of 25.31, a P/E/G ratio of 5.74 and a beta of 1.27. The firm has a fifty day simple moving average of $309.49 and a two-hundred day simple moving average of $300.56. Norfolk Southern Corporation has a twelve month low of $250.65 and a twelve month high of $326.00.

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

Norfolk Southern Dividend Announcement

The firm also recently declared 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 of this dividend was Friday, May 8th. This represents a $5.40 annualized dividend and a yield of 1.8%. Norfolk Southern’s payout ratio is currently 45.49%.

Norfolk Southern 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.