Norfolk Southern Corporation $NSC is P Schoenfeld Asset Management LP's 3rd Largest Position

Key Points

• P Schoenfeld Asset Management LP boosted its stake in Norfolk Southern by 228.4% in the fourth quarter, making NSC its 3rd largest holding at 6.6% of the portfolio, worth about $18.7 million.
• Norfolk Southern reported Q1 earnings of $2.65 per share, topping analyst expectations of $2.49, though revenue of $3.0 billion came in below estimates. The company posted strong profitability with an 18.3% return on equity and 21.9% net margin.
• The railroad also declared a quarterly dividend of $1.35 per share and currently yields about 1.7%. Analysts overall remain cautious, with a consensus rating of Hold and a target price of $322.71.

P Schoenfeld Asset Management LP raised its stake in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 228.4% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 64,700 shares of the railroad operator's stock after acquiring an additional 45,000 shares during the period. Norfolk Southern comprises approximately 6.6% of P Schoenfeld Asset Management LP's investment portfolio, making the stock its 3rd largest holding. P Schoenfeld Asset Management LP's holdings in Norfolk Southern were worth $18,680,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also recently bought and sold shares of the company. Brighton Jones LLC grew its position in 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 in the last quarter. Intech Investment Management LLC increased its position in shares of Norfolk Southern by 40.4% during the first quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator's stock valued at $1,527,000 after acquiring an additional 1,855 shares during the last quarter. Sivia Capital Partners LLC bought a new stake in Norfolk Southern during the second quarter worth $327,000. Schnieders Capital Management LLC. lifted its holdings 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 acquiring an additional 1,670 shares during the period. Finally, Jump Financial LLC boosted its position in Norfolk Southern by 185.1% in the second quarter. Jump Financial LLC now owns 4,588 shares of the railroad operator's stock worth $1,174,000 after purchasing an additional 2,979 shares during the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Stock Performance

NYSE:NSC opened at $314.05 on Monday. The company has a market capitalization of $70.53 billion, a P/E ratio of 26.46, a P/E/G ratio of 5.79 and a beta of 1.27. The business has a fifty day simple moving average of $308.35 and a two-hundred day simple moving average of $300.20. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. Norfolk Southern Corporation has a 1 year low of $247.85 and a 1 year high of $326.00.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings results on Friday, April 24th. The railroad operator reported $2.65 EPS for the quarter, beating analysts' consensus estimates of $2.49 by $0.16. The firm had revenue of $3 billion for the quarter, compared to analysts' expectations of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.The business's revenue for the quarter was up .2% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $2.69 EPS. On average, analysts expect that Norfolk Southern Corporation will post 12.12 earnings per share for the current year.

Norfolk Southern Dividend Announcement

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

Analysts Set New Price Targets

A number of brokerages have issued reports on NSC. Sanford C. Bernstein reduced their price objective on Norfolk Southern from $322.00 to $313.00 and set an "outperform" rating for the company in a research note on Tuesday, March 31st. Evercore set a $325.00 price target on shares of Norfolk Southern in a report on Friday, April 24th. Wolfe Research increased their price target on shares of Norfolk Southern from $350.00 to $355.00 and gave the company an "outperform" rating in a research report on Tuesday, April 7th. 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 report on Friday, April 24th. Finally, Zacks Research raised shares of Norfolk Southern from a "strong sell" rating to a "hold" rating in a research report on Wednesday, March 4th. Six investment analysts have rated the stock with a Buy rating and sixteen have assigned a Hold rating to the company's stock. According to data from MarketBeat, Norfolk Southern has a consensus rating of "Hold" and a consensus target price 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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