Highbridge Capital Management LLC Acquires 14,560 Shares of Norfolk Southern Corporation $NSC

Key Points

• Highbridge Capital Management increased its stake in Norfolk Southern by 728% in the fourth quarter, ending with 16,560 shares valued at about $4.78 million.
• Norfolk Southern reported Q1 earnings of $2.65 per share, topping analyst estimates, though revenue came in at $3.0 billion, below expectations.
• The railroad company paid a quarterly dividend of $1.35 per share and currently has a 1.7% yield; Wall Street’s consensus rating remains Hold with a price target of $322.71.

Highbridge Capital Management LLC boosted its holdings in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 728.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 16,560 shares of the railroad operator's stock after acquiring an additional 14,560 shares during the period. Highbridge Capital Management LLC's holdings in Norfolk Southern were worth $4,781,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in NSC. Brighton Jones LLC grew its holdings in Norfolk Southern by 4.9% during the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator's stock worth $400,000 after acquiring an additional 79 shares in the last quarter. Intech Investment Management LLC grew 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 worth $1,527,000 after acquiring an additional 1,855 shares in the last quarter. Sivia Capital Partners LLC bought a new position in Norfolk Southern during the 2nd quarter worth about $327,000. Schnieders Capital Management LLC. lifted its position in shares of Norfolk Southern by 64.1% during the second quarter. Schnieders Capital Management LLC. now owns 4,275 shares of the railroad operator's stock valued at $1,094,000 after buying an additional 1,670 shares during the last quarter. Finally, Jump Financial LLC lifted its position in shares of Norfolk Southern by 185.1% during the second quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator's stock valued at $1,174,000 after buying an additional 2,979 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock opened at $313.88 on Friday. The firm has a market capitalization of $70.49 billion, a P/E ratio of 26.44, a PEG ratio of 5.68 and a beta of 1.27. 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 50 day moving average price of $305.69 and a 200 day moving average price of $299.07. Norfolk Southern Corporation has a 52 week low of $247.85 and a 52 week high of $326.00.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, beating the consensus estimate 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 during the quarter, compared to analyst estimates of $3.13 billion. During the same period last year, the firm posted $2.69 EPS. Norfolk Southern's revenue was up .2% on a year-over-year basis. Sell-side analysts expect that Norfolk Southern Corporation will post 12.11 EPS for the current year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were issued a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 1.7%. The ex-dividend date was Friday, May 8th. Norfolk Southern's dividend payout ratio is 45.49%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. JPMorgan Chase & Co. decreased their price target on shares of Norfolk Southern from $296.00 to $292.00 and set a "neutral" rating for the company in a research report on Tuesday, April 7th. Susquehanna increased their price target on shares of Norfolk Southern from $330.00 to $337.00 and gave the company a "neutral" rating in a research report on Friday. BMO Capital Markets increased their price target on shares of Norfolk Southern from $305.00 to $310.00 and gave the company a "market perform" rating in a research report on Monday, April 27th. Royal Bank Of Canada increased their price target on shares of Norfolk Southern from $310.00 to $360.00 and gave the company a "sector perform" rating in a research report on Friday, April 24th. Finally, Citigroup reissued a "neutral" rating on shares of Norfolk Southern in a research report on Friday, April 24th. Six research analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus price target of $322.71.

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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