Hudson Bay Capital Management LP Acquires 115,073 Shares of Norfolk Southern Corporation $NSC

Hudson Bay Capital Management LP increased its stake in Norfolk Southern Corporation (NYSE:NSC) by 316.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 151,463 shares of the railroad operator’s stock after purchasing an additional 115,073 shares during the period. Hudson Bay Capital Management LP owned approximately 0.07% of Norfolk Southern worth $45,501,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. Brighton Jones LLC grew its stake 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 buying an additional 79 shares in the last quarter. Intech Investment Management LLC raised its position in shares of Norfolk Southern by 40.4% during the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock valued at $1,527,000 after buying an additional 1,855 shares in the last quarter. Sivia Capital Partners LLC purchased a new stake in shares of Norfolk Southern during the 2nd quarter valued at $327,000. Schnieders Capital Management LLC. lifted its holdings in shares of Norfolk Southern by 64.1% during the 2nd 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 last quarter. Finally, SG Americas Securities LLC lifted its holdings in shares of Norfolk Southern by 281.4% during the 2nd quarter. SG Americas Securities LLC now owns 6,758 shares of the railroad operator’s stock worth $1,730,000 after acquiring an additional 4,986 shares during the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Price Performance

Shares of NYSE:NSC opened at $284.27 on Thursday. 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 PE ratio of 22.30, a PEG ratio of 5.26 and a beta of 1.31. The company’s fifty day moving average is $300.81 and its 200 day moving average is $292.35. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $319.94.

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

Norfolk Southern Announces Dividend

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

Analyst Ratings Changes

NSC has been the topic of a number of research analyst reports. Wolfe Research increased their target price on Norfolk Southern from $361.00 to $368.00 and gave the company an “outperform” rating in a research note on Thursday, January 8th. Benchmark reaffirmed a “hold” rating on shares of Norfolk Southern in a research note on Friday, January 30th. Evercore upped their price objective on Norfolk Southern from $298.00 to $299.00 in a report on Thursday, December 18th. Argus upgraded Norfolk Southern to a “hold” rating in a research report on Wednesday, February 25th. Finally, UBS Group cut Norfolk Southern from a “buy” rating to a “neutral” rating and set a $342.00 price objective on the stock. in a report on Friday, February 6th. Eight analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $308.95.

About Norfolk Southern

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.