Wolverine Asset Management LLC Makes New Investment in Norfolk Southern Corporation $NSC

Wolverine Asset Management LLC bought a new position in shares of Norfolk Southern Corporation (NYSE:NSC) in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor bought 8,050 shares of the railroad operator’s stock, valued at approximately $2,418,000.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Brighton Jones LLC increased its holdings in shares of Norfolk Southern by 4.9% in the fourth quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after purchasing an additional 79 shares during the last quarter. Intech Investment Management LLC increased its stake in shares of Norfolk Southern by 40.4% in the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock worth $1,527,000 after acquiring an additional 1,855 shares during the last quarter. Pallas Capital Advisors LLC increased its stake in shares of Norfolk Southern by 117.9% in the 2nd quarter. Pallas Capital Advisors LLC now owns 3,793 shares of the railroad operator’s stock worth $971,000 after acquiring an additional 2,052 shares during the last quarter. Sivia Capital Partners LLC purchased a new position in shares of Norfolk Southern during the 2nd quarter worth $327,000. Finally, Focus Financial Network Inc. boosted its position in shares of Norfolk Southern by 5.0% during the 2nd quarter. Focus Financial Network Inc. now owns 2,149 shares of the railroad operator’s stock valued at $550,000 after acquiring an additional 103 shares during the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at Norfolk Southern

In related news, Director William Jr. Clyburn acquired 204 shares of Norfolk Southern stock in a transaction dated Friday, December 5th. The shares were acquired at an average cost of $294.79 per share, for a total transaction of $60,137.16. Following the completion of the purchase, the director owned 405 shares in the company, valued at approximately $119,389.95. The trade was a 101.49% increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Sameh Fahmy bought 1,650 shares of the firm’s stock in a transaction that occurred on Wednesday, November 5th. The stock was bought at an average price of $282.97 per share, with a total value of $466,900.50. Following the completion of the acquisition, the director owned 12,000 shares of the company’s stock, valued at $3,395,640. This trade represents a 15.94% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. Over the last ninety days, insiders have bought 4,454 shares of company stock worth $1,259,874. 0.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on NSC. TD Cowen reduced their target price on shares of Norfolk Southern from $320.00 to $314.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. Robert W. Baird set a $293.00 price target on shares of Norfolk Southern in a report on Friday, December 5th. Citigroup upped their price objective on Norfolk Southern from $307.00 to $317.00 and gave the company a “neutral” rating in a report on Wednesday, January 7th. Wolfe Research raised their target price on Norfolk Southern from $361.00 to $368.00 and gave the stock an “outperform” rating in a research note on Thursday, January 8th. Finally, Deutsche Bank Aktiengesellschaft lowered Norfolk Southern from a “buy” rating to a “hold” rating and decreased their price target for the company from $354.00 to $297.00 in a research note on Thursday, December 11th. Eight investment analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, Norfolk Southern currently has a consensus rating of “Hold” and an average target price of $303.52.

Norfolk Southern Stock Down 0.2%

Shares of NYSE NSC opened at $290.09 on Friday. The company has a quick ratio of 0.78, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The business’s 50 day moving average is $289.61 and its two-hundred day moving average is $283.89. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $302.24. The firm has a market cap of $65.09 billion, a price-to-earnings ratio of 22.13, a PEG ratio of 5.09 and a beta of 1.33.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share (EPS) for the quarter, missing the consensus estimate of $3.31 by ($0.01). Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.11 billion. During the same quarter in the prior year, the firm posted $3.25 EPS. Norfolk Southern’s quarterly revenue was up .0% compared to the same quarter last year. Research analysts predict that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Stockholders of record on Friday, November 7th were paid a $1.35 dividend. The ex-dividend date of this dividend was Friday, November 7th. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. Norfolk Southern’s dividend payout ratio (DPR) is presently 41.19%.

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.