Wolverine Asset Management LLC Purchases 4,650 Shares of Norfolk Southern Corporation $NSC
by Amy Steele · The Cerbat GemWolverine Asset Management LLC raised its position in Norfolk Southern Corporation (NYSE:NSC – Free Report) by 57.8% in the 4th quarter, Holdings Channel reports. The firm owned 12,700 shares of the railroad operator’s stock after buying an additional 4,650 shares during the period. Wolverine Asset Management LLC’s holdings in Norfolk Southern were worth $3,667,000 at the end of the most recent quarter.
Several other large investors have also recently bought and sold shares of NSC. Pentwater Capital Management LP bought a new stake in Norfolk Southern in the third quarter valued at approximately $826,128,000. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Norfolk Southern by 545.2% in the third quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,306,203 shares of the railroad operator’s stock valued at $392,396,000 after purchasing an additional 1,103,748 shares in the last quarter. Balyasny Asset Management L.P. bought a new stake in Norfolk Southern in the third quarter valued at approximately $329,629,000. TOMS Capital Investment Management LP bought a new stake in Norfolk Southern in the second quarter valued at approximately $181,995,000. Finally, M&T Bank Corp increased its stake in Norfolk Southern by 463.2% in the fourth quarter. M&T Bank Corp now owns 783,271 shares of the railroad operator’s stock valued at $226,146,000 after purchasing an additional 644,202 shares in the last quarter. Institutional investors own 75.10% of the company’s stock.
Analysts Set New Price Targets
NSC has been the subject of several recent analyst reports. Robert W. Baird upped their target price 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. Zacks Research raised shares of Norfolk Southern from a “strong sell” rating to a “hold” rating in a research note on Wednesday, March 4th. Jefferies Financial Group lowered their target price 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. Wolfe Research upped their price target on shares of Norfolk Southern from $350.00 to $355.00 and gave the company an “outperform” rating in a report on Tuesday, April 7th. Finally, BMO Capital Markets upped their price target on shares of Norfolk Southern from $305.00 to $310.00 and gave the company a “market perform” rating in a report on Monday, April 27th. Six equities research analysts have rated the stock with a Buy rating and seventeen have issued a Hold rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $320.67.
Norfolk Southern Stock Down 1.4%
NSC stock opened at $311.52 on Tuesday. The company has a debt-to-equity ratio of 1.04, a current ratio of 0.91 and a quick ratio of 0.81. The stock has a market capitalization of $69.96 billion, a P/E ratio of 26.24, a P/E/G ratio of 5.84 and a beta of 1.30. The business has a 50-day moving average of $299.64 and a 200-day moving average of $294.41. Norfolk Southern Corporation has a fifty-two week low of $218.05 and a fifty-two week high of $323.37.
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 the consensus estimate of $2.49 by $0.16. The company had revenue of $3 billion during the quarter, compared to analysts’ expectations of $3.13 billion. Norfolk Southern had a return on equity of 18.30% and a net margin of 21.91%.Norfolk Southern’s revenue for the quarter was up .2% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.69 earnings per share. On average, sell-side analysts anticipate that Norfolk Southern Corporation will post 12.11 earnings per share for the current fiscal year.
Norfolk Southern Announces Dividend
The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, May 20th. Stockholders of record on Friday, May 8th will be given a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 1.7%. The ex-dividend date of this dividend is Friday, May 8th. Norfolk Southern’s dividend payout ratio is currently 45.49%.
Norfolk Southern Company 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.
Recommended Stories
Want to see what other hedge funds are holding NSC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Norfolk Southern Corporation (NYSE:NSC – Free Report).