Norfolk Southern Co. (NYSE:NSC) Shares Sold by Wolverine Asset Management LLC

Wolverine Asset Management LLC cut its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 33.3% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,000 shares of the railroad operator’s stock after selling 1,000 shares during the period. Wolverine Asset Management LLC’s holdings in Norfolk Southern were worth $497,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Vanguard Group Inc. raised its position in shares of Norfolk Southern by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 19,623,690 shares of the railroad operator’s stock valued at $5,001,490,000 after purchasing an additional 1,088,072 shares in the last quarter. Price T Rowe Associates Inc. MD raised its holdings in Norfolk Southern by 2.1% in the first quarter. Price T Rowe Associates Inc. MD now owns 5,986,180 shares of the railroad operator’s stock valued at $1,525,699,000 after acquiring an additional 124,362 shares in the last quarter. EdgePoint Investment Group Inc. boosted its stake in Norfolk Southern by 1.0% during the 2nd quarter. EdgePoint Investment Group Inc. now owns 3,789,436 shares of the railroad operator’s stock valued at $813,554,000 after acquiring an additional 37,386 shares during the last quarter. American Century Companies Inc. grew its holdings in Norfolk Southern by 17.3% during the 2nd quarter. American Century Companies Inc. now owns 3,356,590 shares of the railroad operator’s stock worth $720,626,000 after acquiring an additional 496,088 shares in the last quarter. Finally, Boston Partners increased its position in shares of Norfolk Southern by 157.1% in the 1st quarter. Boston Partners now owns 2,890,665 shares of the railroad operator’s stock worth $735,749,000 after purchasing an additional 1,766,135 shares during the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Norfolk Southern Trading Up 0.7 %

Shares of NSC stock opened at $269.26 on Thursday. The stock has a 50-day simple moving average of $252.33 and a 200 day simple moving average of $238.24. The stock has a market capitalization of $60.92 billion, a P/E ratio of 25.28, a P/E/G ratio of 2.54 and a beta of 1.30. Norfolk Southern Co. has a fifty-two week low of $201.44 and a fifty-two week high of $277.60. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21.

Norfolk Southern (NYSE:NSC) last issued its earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, topping analysts’ consensus estimates of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The firm had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period last year, the firm posted $2.65 earnings per share. The firm’s revenue for the quarter was up 3.3% compared to the same quarter last year. On average, sell-side analysts expect that Norfolk Southern Co. will post 11.82 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, November 20th. Stockholders of record on Friday, November 1st will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.01%. The ex-dividend date of this dividend is Friday, November 1st. Norfolk Southern’s dividend payout ratio is 50.70%.

Analyst Ratings Changes

A number of research firms recently commented on NSC. Jefferies Financial Group lifted their price target on Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a research note on Thursday, October 10th. Citigroup lifted their target price on Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a research report on Tuesday. Susquehanna raised their price objective on Norfolk Southern from $280.00 to $285.00 and gave the stock a “neutral” rating in a research note on Wednesday, October 23rd. Evercore ISI lowered their target price on shares of Norfolk Southern from $276.00 to $274.00 and set an “outperform” rating for the company in a research note on Wednesday, October 23rd. Finally, Benchmark increased their target price on shares of Norfolk Southern from $270.00 to $285.00 and gave the stock a “buy” rating in a report on Wednesday, October 23rd. One research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average price target of $275.68.

Insider Activity at Norfolk Southern

In related news, Director Sameh Fahmy acquired 1,000 shares of the business’s stock in a transaction on Thursday, October 24th. The shares were purchased at an average price of $255.00 per share, for a total transaction of $255,000.00. Following the acquisition, the director now owns 10,000 shares in the company, valued at approximately $2,550,000. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other news, Director Sameh Fahmy acquired 1,000 shares of the stock in a transaction on Thursday, October 24th. The shares were purchased at an average cost of $255.00 per share, for a total transaction of $255,000.00. Following the transaction, the director now owns 10,000 shares in the company, valued at approximately $2,550,000. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Alan H. Shaw sold 51,325 shares of the stock in a transaction on Friday, September 13th. The shares were sold at an average price of $255.98, for a total value of $13,138,173.50. Following the completion of the sale, the chief executive officer now owns 35,045 shares of the company’s stock, valued at $8,970,819.10. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 0.19% of the stock is currently owned by corporate insiders.

Norfolk Southern Company Profile

Norfolk Southern Corporation, together with its subsidiaries, engages in the rail transportation of raw materials, intermediate products, and finished goods in the United States. The company transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.