HBK Investments L P Acquires 13,644 Shares of Norfolk Southern Corporation $NSC

by · The Markets Daily

HBK Investments L P boosted its holdings in Norfolk Southern Corporation (NYSE:NSC – Free Report) by 0.8% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 1,750,000 shares of the railroad operator’s stock after buying an additional 13,644 shares during the period. Norfolk Southern makes up about 5.3% of HBK Investments L P’s investment portfolio, making the stock its 4th largest position. HBK Investments L P’s holdings in Norfolk Southern were worth $550,532,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of the business. Edmond DE Rothschild Holding S.A. acquired a new stake in Norfolk Southern in the 2nd quarter worth $26,000. Meeder Asset Management Inc. acquired a new position in shares of Norfolk Southern during the second quarter valued at about $27,000. Comprehensive Financial Planning Inc. PA acquired a new position in shares of Norfolk Southern during the second quarter valued at about $31,000. Kimelman & Baird LLC bought a new stake in shares of Norfolk Southern in the second quarter valued at about $31,000. Finally, Financial Life Planners acquired a new stake in Norfolk Southern during the first quarter worth about $33,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Price Performance

NYSE NSC traded down $3.07 on Wednesday, reaching $317.15. The company’s stock had a trading volume of 793,568 shares, compared to its average volume of 1,225,936. The firm has a market cap of $71.24 billion, a PE ratio of 27.06, a price-to-earnings-growth ratio of 4.75 and a beta of 1.27. The business has a 50-day moving average price of $335.93 and a 200 day moving average price of $316.09. Norfolk Southern Corporation has a 52 week low of $276.55 and a 52 week high of $358.60. The company has a current ratio of 0.83, a quick ratio of 0.73 and a debt-to-equity ratio of 0.98.

Norfolk Southern (NYSE:NSC – Get Free Report) last announced its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 EPS for the quarter, topping analysts’ consensus estimates of $3.32 by $0.20. The firm had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.38 billion. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The company’s revenue for the quarter was up 12.5% compared to the same quarter last year. During the same quarter last year, the company earned $3.29 earnings per share. Sell-side analysts expect that Norfolk Southern Corporation will post 12.87 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, August 20th. Stockholders of record on Friday, August 7th were issued a $1.35 dividend. The ex-dividend date of this dividend was Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. Norfolk Southern’s dividend payout ratio is presently 46.08%.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Benchmark restated a “hold” rating on shares of Norfolk Southern in a research note on Friday, July 24th. Susquehanna lifted their price objective on Norfolk Southern from $337.00 to $360.00 and gave the stock a “neutral” rating in a report on Tuesday, July 14th. Weiss Ratings raised Norfolk Southern from a “buy (b-)” rating to a “buy (b)” rating in a report on Thursday, September 10th. TD Cowen boosted their price objective on Norfolk Southern from $337.00 to $376.00 and gave the company a “buy” rating in a research report on Friday, July 24th. Finally, JPMorgan Chase & Co. upped 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. Seven equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the company. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus target price of $352.38.

Read Our Latest Report on Norfolk Southern

About Norfolk Southern

(Free Report)

Norfolk Southern Corporation is a major freight railroad company serving the eastern United States. Through its railway network, the company transports raw materials, intermediate goods and finished products for industrial, agricultural, manufacturing and consumer markets. Its operations connect customers with domestic markets, major ports and other rail carriers.

The company transports a diverse range of commodities, including intermodal containers, coal, automotive products, agriculture and consumer goods, chemicals, metals, forest products and construction materials.

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