14,775 Shares in Norfolk Southern Corporation $NSC Purchased by Yakira Capital Management Inc.

Key Points

• Yakira Capital Management opened a new position in Norfolk Southern by purchasing 14,775 shares in Q3 worth about $4.44 million, making NSC ~1.6% of its portfolio and its 19th-largest holding.
• Norfolk Southern beat EPS estimates with $3.22 vs. $2.76 but missed revenue ($3.0B vs. $3.03B); the company shows strong profitability (net margin ~23.6%, ROE ~18.8%) and a market cap of about $68.1 billion.
• Wall Street's consensus is a Hold with an average price target around $309, and the company pays a quarterly dividend of $1.35 (annualized $5.40, yield ~1.8%).

Yakira Capital Management Inc. acquired a new position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) during the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund acquired 14,775 shares of the railroad operator's stock, valued at approximately $4,439,000. Norfolk Southern comprises about 1.6% of Yakira Capital Management Inc.'s portfolio, making the stock its 19th biggest position.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Brighton Jones LLC boosted its holdings in shares of Norfolk Southern by 4.9% in the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator's stock worth $400,000 after purchasing an additional 79 shares during the period. Intech Investment Management LLC raised its holdings in Norfolk Southern by 40.4% during the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator's stock valued at $1,527,000 after buying an additional 1,855 shares during the period. Sivia Capital Partners LLC bought a new stake in Norfolk Southern in the second quarter worth $327,000. Schnieders Capital Management LLC. lifted its position in Norfolk Southern by 64.1% in the second quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator's stock worth $1,094,000 after buying an additional 1,670 shares during the last quarter. Finally, Pekin Hardy Strauss Inc. boosted its stake in Norfolk Southern by 5.6% during the second quarter. Pekin Hardy Strauss Inc. now owns 992 shares of the railroad operator's stock worth $254,000 after buying an additional 53 shares during the period. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several equities research analysts have recently weighed in on NSC shares. Argus raised shares of Norfolk Southern to a "hold" rating in a research note on Wednesday, February 25th. Barclays reduced their price objective on shares of Norfolk Southern from $340.00 to $320.00 and set an "overweight" rating on the stock in a research report on Friday, January 30th. Susquehanna boosted their target price on Norfolk Southern from $304.00 to $305.00 and gave the company a "neutral" rating in a research report on Friday, January 30th. Weiss Ratings reaffirmed a "hold (c+)" rating on shares of Norfolk Southern in a research note on Thursday, January 22nd. Finally, Citigroup reduced their price target on Norfolk Southern from $317.00 to $300.00 and set a "neutral" rating on the stock in a report on Friday, January 30th. Seven research analysts have rated the stock with a Buy rating and eighteen have assigned a Hold rating to the company. According to data from MarketBeat.com, Norfolk Southern currently has a consensus rating of "Hold" and an average price target of $308.95.

Norfolk Southern Price Performance

Shares of NSC opened at $303.02 on Monday. The company has a debt-to-equity ratio of 1.06, a quick ratio of 0.78 and a current ratio of 0.85. The company has a 50 day moving average price of $300.10 and a 200-day moving average price of $291.64. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $319.94. The stock has a market capitalization of $68.05 billion, a PE ratio of 23.77, a PEG ratio of 5.47 and a beta of 1.31.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.76 by $0.46. The company had revenue of $3 billion for the quarter, compared to analyst estimates of $3.03 billion. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. Norfolk Southern's revenue was down 1.7% compared to the same quarter last year. During the same period last year, the company posted $3.04 earnings per share. Equities analysts predict that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 20th. Stockholders of record on Friday, February 6th were issued a $1.35 dividend. The ex-dividend date was Friday, February 6th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.8%. Norfolk Southern's dividend payout ratio (DPR) is currently 42.35%.

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.

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