Moore Capital Management LP Reduces Position in Norfolk Southern Corporation $NSC

Moore Capital Management LP decreased its position in Norfolk Southern Corporation (NYSE:NSC) by 40.0% during the second quarter, Holdings Channel.com reports. The fund owned 15,000 shares of the railroad operator’s stock after selling 10,000 shares during the quarter. Moore Capital Management LP’s holdings in Norfolk Southern were worth $4,719,000 at the end of the most recent quarter.

A number of other hedge funds also recently bought and sold shares of NSC. Louisiana State Employees Retirement System bought a new stake in Norfolk Southern in the first quarter worth $3,272,000. O Shaughnessy Asset Management LLC raised its position in shares of Norfolk Southern by 9.8% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 43,408 shares of the railroad operator’s stock worth $12,533,000 after purchasing an additional 3,887 shares during the last quarter. B. Metzler seel. Sohn & Co. AG bought a new position in Norfolk Southern in the 2nd quarter worth about $3,669,000. SCS Capital Management LLC purchased a new stake in Norfolk Southern during the 2nd quarter valued at about $13,837,000. Finally, Focus Partners Advisor Solutions LLC purchased a new stake in Norfolk Southern during the 2nd quarter valued at about $1,376,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Trading Down 1.6%

Shares of NSC stock opened at $343.21 on Tuesday. Norfolk Southern Corporation has a 1 year low of $268.23 and a 1 year high of $358.60. The firm has a fifty day moving average price of $333.67 and a 200-day moving average price of $315.27. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73. The company 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.

Norfolk Southern (NYSE:NSC) last released its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $3.32 by $0.20. The business had revenue of $3.46 billion during the quarter, compared to analyst estimates of $3.38 billion. Norfolk Southern had a return on equity of 18.21% and a net margin of 21.02%.Norfolk Southern’s revenue for the quarter was up 12.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $3.29 earnings per share. As a group, equities analysts predict that Norfolk Southern Corporation will post 12.74 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business 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 was Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.6%. Norfolk Southern’s payout ratio is 46.08%.

Analyst Ratings Changes

Several research analysts have recently issued reports on NSC shares. Weiss Ratings upgraded shares of Norfolk Southern from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Friday, July 24th. UBS Group restated a “neutral” rating and issued a $363.00 price objective on shares of Norfolk Southern in a report on Friday, July 24th. Susquehanna upped their price objective on Norfolk Southern from $337.00 to $360.00 and gave the company a “neutral” rating in a research report on Tuesday, July 14th. JPMorgan Chase & Co. increased their target price on Norfolk Southern from $316.00 to $338.00 and gave the company a “neutral” rating in a research note on Friday, July 24th. Finally, Evercore set a $358.00 price target on Norfolk Southern in a report on Thursday, July 23rd. Seven equities research analysts have rated the stock with a Buy rating and fifteen have issued a Hold rating to the stock. According to data from MarketBeat, Norfolk Southern has a consensus rating of “Hold” and a consensus price target of $348.00.

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.