Brevan Howard Capital Management LP Increases Stock Position in Norfolk Southern Corporation $NSC

Key Points

• Brevan Howard Capital Management increased its Norfolk Southern stake by 126.6% in Q3 and now owns 15,413 shares valued at about $4.63 million.
• Norfolk Southern beat EPS expectations ($3.22 vs. $2.76) while revenue missed slightly and fell 1.7% year-over-year, and the company declared a quarterly dividend of $1.35 (annualized $5.40, yield 1.9%).
• The stock trades near $289 with a market cap of $64.96 billion, and analysts hold a consensus rating of "Hold" with a $308.95 target amid a mix of buy and hold recommendations.

Brevan Howard Capital Management LP raised its stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 126.6% during the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 15,413 shares of the railroad operator's stock after buying an additional 8,612 shares during the period. Brevan Howard Capital Management LP's holdings in Norfolk Southern were worth $4,630,000 at the end of the most recent quarter.

A number of other hedge funds also recently made changes to their positions in the stock. ORG Partners LLC increased its position in shares of Norfolk Southern by 75.0% during the 3rd quarter. ORG Partners LLC now owns 84 shares of the railroad operator's stock valued at $25,000 after purchasing an additional 36 shares during the last quarter. Westside Investment Management Inc. lifted its position in Norfolk Southern by 207.1% in the 3rd quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator's stock worth $26,000 after buying an additional 58 shares during the last quarter. MMA Asset Management LLC bought a new stake in Norfolk Southern in the 3rd quarter worth approximately $28,000. BNP Paribas purchased a new stake in Norfolk Southern in the second quarter worth approximately $26,000. Finally, Highline Wealth Partners LLC grew its position in Norfolk Southern by 68.9% during the third quarter. Highline Wealth Partners LLC now owns 103 shares of the railroad operator's stock valued at $31,000 after acquiring an additional 42 shares during the last quarter. 75.10% of the stock is owned by institutional investors.

Norfolk Southern Trading Down 0.7%

NSC opened at $289.25 on Monday. The business has a 50 day simple moving average of $300.74 and a two-hundred day simple moving average of $292.24. The firm has a market capitalization of $64.96 billion, a price-to-earnings ratio of 22.69, a PEG ratio of 5.22 and a beta of 1.31. The company has a debt-to-equity ratio of 1.06, a current ratio of 0.85 and a quick ratio of 0.78. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $319.94.

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 for the quarter, topping analysts' consensus estimates of $2.76 by $0.46. Norfolk Southern had a return on equity of 18.78% and a net margin of 23.59%.The firm had revenue of $3 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same period last year, the company earned $3.04 EPS. The business's quarterly revenue was down 1.7% compared to the same quarter last year. Analysts predict that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Friday, February 20th. Investors 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 annualized dividend and a yield of 1.9%. Norfolk Southern's payout ratio is 42.35%.

Wall Street Analysts Forecast Growth

Several research analysts have commented on the stock. Morgan Stanley raised shares of Norfolk Southern from an "equal weight" rating to a "buy" rating in a research note on Thursday, December 18th. Rothschild & Co Redburn increased their target price on shares of Norfolk Southern from $299.00 to $317.00 and gave the company a "neutral" rating in a report on Wednesday, March 4th. Susquehanna lifted their target price on shares of Norfolk Southern from $304.00 to $305.00 and gave the stock a "neutral" rating in a research report on Friday, January 30th. Argus raised shares of Norfolk Southern to a "hold" rating in a research note on Wednesday, February 25th. Finally, Wolfe Research upped their price target on shares of Norfolk Southern from $361.00 to $368.00 and gave the company an "outperform" rating in a research report on Thursday, January 8th. Eight equities research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, Norfolk Southern presently has a consensus rating of "Hold" and a consensus target price of $308.95.

About Norfolk Southern

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.

Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Southern Corporation (NYSE:NSC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.