Norfolk Southern Corporation $NSC Shares Bought by Highbridge Capital Management LLC

Highbridge Capital Management LLC increased its holdings in Norfolk Southern Corporation (NYSE:NSC) by 728.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 16,560 shares of the railroad operator’s stock after buying an additional 14,560 shares during the quarter. Highbridge Capital Management LLC’s holdings in Norfolk Southern were worth $4,781,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also made changes to their positions in NSC. Norges Bank acquired a new stake in shares of Norfolk Southern during the 4th quarter worth approximately $1,084,701,000. Pentwater Capital Management LP acquired a new stake in shares of Norfolk Southern during the 3rd quarter worth approximately $826,128,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in shares of Norfolk Southern by 545.2% during the 3rd quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,306,203 shares of the railroad operator’s stock worth $392,396,000 after purchasing an additional 1,103,748 shares during the period. Balyasny Asset Management L.P. acquired a new stake in shares of Norfolk Southern during the 3rd quarter worth approximately $329,629,000. Finally, TOMS Capital Investment Management LP acquired a new stake in shares of Norfolk Southern during the 2nd quarter worth approximately $181,995,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Norfolk Southern stock opened at $313.88 on Friday. The company’s fifty day moving average price is $305.69 and its 200 day moving average price is $299.07. Norfolk Southern Corporation has a 1 year low of $247.85 and a 1 year high of $326.00. The stock has a market capitalization of $70.49 billion, a P/E ratio of 26.44, a P/E/G ratio of 5.68 and a beta of 1.27. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.49 by $0.16. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The firm had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.13 billion. During the same quarter last year, the company earned $2.69 EPS. The firm’s revenue for the quarter was up .2% compared to the same quarter last year. As a group, equities research analysts anticipate that Norfolk Southern Corporation will post 12.11 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors 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 dividend on an annualized basis and a yield of 1.7%. Norfolk Southern’s dividend payout ratio (DPR) is currently 45.49%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on the stock. Royal Bank Of Canada raised their price objective on shares of Norfolk Southern from $310.00 to $360.00 and gave the stock a “sector perform” rating in a research note on Friday, April 24th. JPMorgan Chase & Co. dropped their price objective on shares of Norfolk Southern from $296.00 to $292.00 and set a “neutral” rating on the stock in a research note on Tuesday, April 7th. Susquehanna raised their price objective on shares of Norfolk Southern from $330.00 to $337.00 and gave the stock a “neutral” rating in a research note on Friday. Barclays raised their price objective on shares of Norfolk Southern from $320.00 to $360.00 and gave the stock an “overweight” rating in a research note on Monday, April 27th. Finally, Zacks Research raised shares of Norfolk Southern from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Six analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $322.71.

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.