Hudson Bay Capital Management LP purchased a new stake in Norfolk Southern Co. (NYSE:NSC) in the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 8,000 shares of the railroad operator’s stock, valued at approximately $1,901,000.
A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. JPMorgan Chase & Co. boosted its holdings in Norfolk Southern by 5.7% in the 4th quarter. JPMorgan Chase & Co. now owns 15,970,452 shares of the railroad operator’s stock valued at $3,794,739,000 after purchasing an additional 867,636 shares during the period. Price T Rowe Associates Inc. MD raised its position in shares of Norfolk Southern by 11.4% in the fourth quarter. Price T Rowe Associates Inc. MD now owns 8,773,852 shares of the railroad operator’s stock valued at $2,084,755,000 after buying an additional 897,259 shares in the last quarter. Wells Fargo & Company MN boosted its stake in shares of Norfolk Southern by 1.6% in the fourth quarter. Wells Fargo & Company MN now owns 4,659,240 shares of the railroad operator’s stock valued at $1,107,081,000 after buying an additional 73,444 shares during the period. Bank of New York Mellon Corp grew its position in Norfolk Southern by 10.3% during the fourth quarter. Bank of New York Mellon Corp now owns 3,008,727 shares of the railroad operator’s stock worth $714,903,000 after buying an additional 281,911 shares in the last quarter. Finally, Norges Bank bought a new position in Norfolk Southern during the 4th quarter worth $592,504,000. 67.25% of the stock is currently owned by hedge funds and other institutional investors.
A number of research analysts recently commented on NSC shares. Citigroup Inc. 3% Minimum Coupon Principal Protected Based Upon Russell boosted their price target on Norfolk Southern from $250.00 to $290.00 in a research note on Monday, January 11th. Argus boosted their target price on shares of Norfolk Southern from $225.00 to $275.00 and gave the company a “buy” rating in a research report on Monday, February 1st. Cowen increased their price target on shares of Norfolk Southern from $224.00 to $254.00 and gave the stock an “outperform” rating in a research report on Thursday, January 28th. Royal Bank of Canada lifted their price objective on shares of Norfolk Southern from $220.00 to $234.00 and gave the company an “underperform” rating in a research note on Thursday, January 28th. Finally, Vertical Research assumed coverage on Norfolk Southern in a report on Friday, March 26th. They issued a “hold” rating and a $240.00 target price on the stock. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, twelve have issued a buy rating and one has assigned a strong buy rating to the stock. The company presently has a consensus rating of “Buy” and an average target price of $238.57.
Norfolk Southern stock opened at $271.48 on Thursday. The stock’s 50 day moving average is $261.21 and its 200 day moving average is $240.01. Norfolk Southern Co. has a one year low of $147.37 and a one year high of $276.15. The firm has a market cap of $73.91 billion, a P/E ratio of 34.94, a P/E/G ratio of 3.09 and a beta of 1.38. The company has a debt-to-equity ratio of 0.85, a current ratio of 1.29 and a quick ratio of 1.16.
Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Tuesday, January 26th. The railroad operator reported $2.64 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $2.48 by $0.16. Norfolk Southern had a net margin of 20.27% and a return on equity of 15.83%. The firm had revenue of $2.60 billion for the quarter, compared to the consensus estimate of $2.54 billion. During the same quarter in the previous year, the company earned $2.55 EPS. The company’s revenue for the quarter was down 3.3% on a year-over-year basis. Equities analysts anticipate that Norfolk Southern Co. will post 9.1 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which was paid on Wednesday, March 10th. Investors of record on Friday, February 5th were issued a $0.99 dividend. This is a positive change from Norfolk Southern’s previous quarterly dividend of $0.94. The ex-dividend date was Thursday, February 4th. This represents a $3.96 annualized dividend and a yield of 1.46%. Norfolk Southern’s payout ratio is presently 38.30%.
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 industrial products, including agriculture, forest and consumer products, chemicals, and metals and construction materials; and coal, automobiles, and automotive parts.
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