Moore Capital Management LP Sells 10,000 Shares of Norfolk Southern Corporation $NSC

Moore Capital Management LP reduced its position in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 40.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 15,000 shares of the railroad operator's stock after selling 10,000 shares during the period. Moore Capital Management LP's holdings in Norfolk Southern were worth $4,719,000 as of its most recent filing with the Securities and Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in the business. Brighton Jones LLC boosted its holdings in Norfolk Southern by 4.9% in the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator's stock valued at $400,000 after acquiring an additional 79 shares during the last quarter. Intech Investment Management LLC boosted its stake in shares of Norfolk Southern by 40.4% in the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator's stock valued at $1,527,000 after purchasing an additional 1,855 shares during the last quarter. Sivia Capital Partners LLC acquired a new stake in shares of Norfolk Southern during the second quarter worth $327,000. Schnieders Capital Management LLC. raised its stake in Norfolk Southern by 64.1% during 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, Jump Financial LLC raised its stake in Norfolk Southern by 185.1% during the second quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator's stock worth $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 and hedge funds.

Analyst Ratings Changes

A number of analysts have commented on NSC shares. Stephens raised shares of Norfolk Southern to a "hold" rating in a research report on Wednesday, July 8th. Benchmark reaffirmed a "hold" rating on shares of Norfolk Southern in a research note on Friday, July 24th. Wells Fargo & Company boosted their price target on Norfolk Southern from $365.00 to $385.00 and gave the company an "overweight" rating in a research note on Friday, July 24th. Royal Bank Of Canada increased their price target on Norfolk Southern from $320.00 to $360.00 and gave the stock a "sector perform" rating in a report on Friday, July 24th. Finally, TD Cowen lifted their price objective on shares of Norfolk Southern from $337.00 to $376.00 and gave the company a "buy" rating in a research note on Friday, July 24th. Seven analysts have rated the stock with a Buy rating and fifteen have assigned a Hold rating to the company. According to MarketBeat.com, Norfolk Southern currently has an average rating of "Hold" and a consensus price target of $348.00.

Norfolk Southern Stock Down 1.6%

Shares of NYSE:NSC opened at $343.21 on Tuesday. The business's 50 day moving average is $333.67 and its 200 day moving average is $315.27. Norfolk Southern Corporation has a 12-month low of $268.23 and a 12-month high of $358.60. The stock has a market cap of $77.09 billion, a price-to-earnings ratio of 29.28, a PEG ratio of 5.23 and a beta of 1.27. The company has a quick ratio of 0.73, a current ratio of 0.83 and a debt-to-equity ratio of 0.98.

Norfolk Southern (NYSE:NSC - Get Free Report) last announced its earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, topping analysts' consensus estimates of $3.32 by $0.20. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.The company's revenue was up 12.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $3.29 EPS. On average, sell-side analysts forecast that Norfolk Southern Corporation will post 12.74 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, August 7th. This represents a $5.40 annualized dividend and a yield of 1.6%. Norfolk Southern's dividend payout ratio (DPR) is currently 46.08%.

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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