Wolverine Asset Management LLC Has $332,000 Stock Holdings in Norfolk Southern Corporation (NYSE:NSC)

Key Points

• Wolverine Asset Management LLC reduced its holdings in Norfolk Southern Corporation by 44% during the first quarter, selling 1,100 shares for a total of 1,400 shares valued at $332,000.
• Norfolk Southern recently announced a quarterly dividend of $1.35 per share, with an annualized yield of 1.9%, reflecting a payout ratio of 36.49%.
• Analyst consensus on Norfolk Southern stock is currently a "Hold" rating, with an average target price set at $285.15.

Wolverine Asset Management LLC lessened its holdings in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 44.0% in the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 1,400 shares of the railroad operator's stock after selling 1,100 shares during the period. Wolverine Asset Management LLC's holdings in Norfolk Southern were worth $332,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. GAMMA Investing LLC lifted its holdings in shares of Norfolk Southern by 25,555.7% in the 1st quarter. GAMMA Investing LLC now owns 989,796 shares of the railroad operator's stock worth $234,433,000 after purchasing an additional 985,938 shares during the last quarter. Price T Rowe Associates Inc. MD lifted its holdings in shares of Norfolk Southern by 11.9% in the 4th quarter. Price T Rowe Associates Inc. MD now owns 8,608,080 shares of the railroad operator's stock worth $2,020,318,000 after purchasing an additional 918,559 shares during the last quarter. The Manufacturers Life Insurance Company lifted its holdings in shares of Norfolk Southern by 293.7% in the 4th quarter. The Manufacturers Life Insurance Company now owns 671,680 shares of the railroad operator's stock worth $157,643,000 after purchasing an additional 501,053 shares during the last quarter. Phoenix Financial Ltd. acquired a new stake in shares of Norfolk Southern in the 1st quarter worth about $110,209,000. Finally, Northern Trust Corp increased its holdings in shares of Norfolk Southern by 8.9% in the 4th quarter. Northern Trust Corp now owns 2,870,443 shares of the railroad operator's stock worth $673,693,000 after acquiring an additional 233,927 shares during the period. Institutional investors and hedge funds own 75.10% of the company's stock.

Norfolk Southern Stock Up 1.4%

NYSE:NSC traded up $3.81 on Wednesday, hitting $282.05. 1,520,358 shares of the company's stock traded hands, compared to its average volume of 1,555,256. The firm has a 50-day moving average price of $264.83 and a 200-day moving average price of $246.15. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.11. The company has a market cap of $63.35 billion, a PE ratio of 19.06, a price-to-earnings-growth ratio of 2.47 and a beta of 1.31. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $288.11.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings data on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share for the quarter, beating the consensus estimate of $3.24 by $0.05. The firm had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.10 billion. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. Equities analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, August 20th. Investors of record on Friday, August 1st will be issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. The ex-dividend date is Friday, August 1st. Norfolk Southern's dividend payout ratio (DPR) is currently 36.49%.

Analysts Set New Price Targets

A number of research firms recently weighed in on NSC. Royal Bank Of Canada cut shares of Norfolk Southern from a "moderate buy" rating to a "hold" rating in a report on Tuesday, July 29th. Barclays increased their price objective on shares of Norfolk Southern from $290.00 to $300.00 and gave the stock an "overweight" rating in a report on Wednesday, July 30th. Robert W. Baird increased their price objective on shares of Norfolk Southern from $255.00 to $300.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. BMO Capital Markets reissued a "market perform" rating and issued a $255.00 price target on shares of Norfolk Southern in a research note on Thursday, April 24th. Finally, Evercore ISI restated an "in-line" rating and set a $289.00 price objective (up from $279.00) on shares of Norfolk Southern in a research note on Wednesday, July 30th. Fourteen analysts have rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $285.15.

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.