Norfolk Southern Corporation $NSC Shares Bought by Yakira Capital Management Inc.

by · The Markets Daily

Yakira Capital Management Inc. raised its holdings in Norfolk Southern Corporation (NYSE:NSC – Free Report) by 33.3% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 19,700 shares of the railroad operator’s stock after acquiring an additional 4,925 shares during the period. Norfolk Southern makes up approximately 1.9% of Yakira Capital Management Inc.’s investment portfolio, making the stock its 18th largest position. Yakira Capital Management Inc.’s holdings in Norfolk Southern were worth $5,688,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of the business. Vanguard Group Inc. raised its holdings in Norfolk Southern by 1.3% in the 4th quarter. Vanguard Group Inc. now owns 20,825,837 shares of the railroad operator’s stock valued at $6,012,836,000 after acquiring an additional 272,651 shares during the last quarter. State Street Corp raised its holdings in Norfolk Southern by 4.1% in the 4th quarter. State Street Corp now owns 9,710,549 shares of the railroad operator’s stock valued at $2,803,630,000 after acquiring an additional 379,819 shares during the last quarter. Geode Capital Management LLC raised its holdings in Norfolk Southern by 0.7% in the 4th quarter. Geode Capital Management LLC now owns 4,878,029 shares of the railroad operator’s stock valued at $1,401,797,000 after acquiring an additional 36,205 shares during the last quarter. Norges Bank acquired a new stake in Norfolk Southern in the 4th quarter valued at about $1,084,701,000. Finally, Pentwater Capital Management LP acquired a new stake in Norfolk Southern in the 3rd quarter valued at about $826,128,000. Institutional investors and hedge funds own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

NYSE:NSC opened at $314.05 on Monday. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.81 and a current ratio of 0.91. The stock has a market capitalization of $70.53 billion, a P/E ratio of 26.46, a PEG ratio of 5.79 and a beta of 1.27. The company has a 50 day moving average price of $308.35 and a 200 day moving average price of $300.20. Norfolk Southern Corporation has a fifty-two week low of $247.85 and a fifty-two week high of $326.00.

Norfolk Southern (NYSE:NSC – Get Free Report) last posted its quarterly earnings data on Friday, April 24th. The railroad operator reported $2.65 earnings per share for the quarter, topping analysts’ consensus estimates of $2.49 by $0.16. The firm had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Norfolk Southern had a net margin of 21.91% and a return on equity of 18.30%. The firm’s quarterly revenue was up .2% on a year-over-year basis. During the same quarter last year, the company posted $2.69 EPS. Equities research analysts forecast that Norfolk Southern Corporation will post 12.12 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, May 20th. Investors of record on Friday, May 8th were given a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, May 8th. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.7%. Norfolk Southern’s dividend payout ratio (DPR) is presently 45.49%.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on NSC. Jefferies Financial Group dropped their price target on shares of Norfolk Southern from $350.00 to $310.00 and set a “hold” rating for the company in a research note on Monday, April 6th. Robert W. Baird increased their price target on shares of Norfolk Southern from $315.00 to $330.00 and gave the company a “neutral” rating in a research note on Tuesday, April 28th. Rothschild & Co Redburn increased their price target on shares of Norfolk Southern from $308.00 to $315.00 and gave the company a “neutral” rating in a research note on Wednesday, April 29th. TD Cowen increased their price target on shares of Norfolk Southern from $313.00 to $337.00 and gave the company a “buy” rating in a research note on Monday, April 27th. Finally, Sanford C. Bernstein dropped their price target on shares of Norfolk Southern from $322.00 to $313.00 and set an “outperform” rating for the company in a research note on Tuesday, March 31st. Six research analysts have rated the stock with a Buy rating and sixteen have issued a Hold rating to the company. According to MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $322.71.

Check Out Our Latest Stock Analysis on NSC

About Norfolk Southern

(Free Report)

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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