Hudson Bay Capital Management LP Grows Position in Norfolk Southern Corporation $NSC

Hudson Bay Capital Management LP increased its position in Norfolk Southern Corporation (NYSE:NSC) by 316.2% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 151,463 shares of the railroad operator’s stock after buying an additional 115,073 shares during the quarter. Hudson Bay Capital Management LP’s holdings in Norfolk Southern were worth $45,501,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Park Place Capital Corp grew its stake in shares of Norfolk Southern by 13,000.0% in the third quarter. Park Place Capital Corp now owns 3,668 shares of the railroad operator’s stock worth $1,102,000 after purchasing an additional 3,640 shares during the last quarter. Cullen Capital Management LLC raised its position in Norfolk Southern by 31.8% during the 3rd quarter. Cullen Capital Management LLC now owns 121,351 shares of the railroad operator’s stock valued at $36,455,000 after purchasing an additional 29,264 shares during the last quarter. Markel Group Inc. lifted its holdings in Norfolk Southern by 8.5% in the 3rd quarter. Markel Group Inc. now owns 256,500 shares of the railroad operator’s stock worth $77,055,000 after buying an additional 20,000 shares during the period. Picton Mahoney Asset Management purchased a new stake in Norfolk Southern in the 3rd quarter worth approximately $24,033,000. Finally, AlphaQuest LLC bought a new stake in shares of Norfolk Southern in the 3rd quarter worth approximately $2,165,000. 75.10% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of equities analysts recently commented on the company. Evercore upped their target price on Norfolk Southern from $298.00 to $299.00 in a report on Thursday, December 18th. Robert W. Baird lifted their price target on shares of Norfolk Southern from $288.00 to $315.00 and gave the company a “neutral” rating in a report on Friday, March 6th. Barclays decreased their price objective on shares of Norfolk Southern from $340.00 to $320.00 and set an “overweight” rating for the company in a report on Friday, January 30th. Jefferies Financial Group raised their target price on shares of Norfolk Southern from $300.00 to $350.00 and gave the stock a “hold” rating in a research report on Tuesday, March 3rd. Finally, Wolfe Research lifted their target price on shares of Norfolk Southern from $361.00 to $368.00 and gave the company an “outperform” rating in a research note on Thursday, January 8th. Eight investment analysts have rated the stock with a Buy rating and seventeen have given a Hold rating to the stock. According to data from MarketBeat, Norfolk Southern has a consensus rating of “Hold” and an average price target of $308.95.

Norfolk Southern Price Performance

Shares of NSC stock opened at $284.27 on Thursday. The business’s fifty day moving average is $300.81 and its 200 day moving average is $292.35. The company has a quick ratio of 0.78, a current ratio of 0.85 and a debt-to-equity ratio of 1.06. The stock has a market cap of $63.84 billion, a price-to-earnings ratio of 22.30, a PEG ratio of 5.26 and a beta of 1.31. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $319.94.

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

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Friday, February 20th. Investors of record on Friday, February 6th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 6th. This represents a $5.40 annualized dividend and a yield of 1.9%. Norfolk Southern’s payout ratio is presently 42.35%.

Norfolk Southern 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.