Corebridge Financial Inc. Sells 1,495 Shares of Norfolk Southern Corporation $NSC
Corebridge Financial Inc. reduced its stake in Norfolk Southern Corporation by 2.9% in Q1, selling 1,495 shares, leaving it with 50,503 shares valued at approximately $11.96 million. Other institutional investors have also adjusted their holdings. Norfolk Southern's stock opened at $276.78, with a market cap of $62.17 billion and a P/E ratio of 18.70. The company recently reported earnings of $3.29 per share, exceeding estimates, and declared a quarterly dividend of $1.35 per share. Analysts have mixed ratings on the stock, with a consensus rating of "Hold."
Corebridge Financial Inc. cut its stake in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 2.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 50,503 shares of the railroad operator's stock after selling 1,495 shares during the quarter. Corebridge Financial Inc.'s holdings in Norfolk Southern were worth $11,962,000 at the end of the most recent quarter.
- This Railroad Stock Is Chugging Along to a New All-Time High
A number of other large investors have also recently modified their holdings of the stock. Brighton Jones LLC grew its holdings in shares of Norfolk Southern by 4.9% during the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator's stock worth $400,000 after acquiring an additional 79 shares during the period. Nebula Research & Development LLC purchased a new position in shares of Norfolk Southern in the 4th quarter valued at approximately $309,000. Capital Analysts LLC boosted its position in shares of Norfolk Southern by 2,150.0% during the fourth quarter. Capital Analysts LLC now owns 450 shares of the railroad operator's stock valued at $106,000 after purchasing an additional 430 shares in the last quarter. Optiver Holding B.V. grew its stake in Norfolk Southern by 131.1% in the fourth quarter. Optiver Holding B.V. now owns 691 shares of the railroad operator's stock worth $162,000 after purchasing an additional 392 shares during the period. Finally, The Manufacturers Life Insurance Company grew its stake in Norfolk Southern by 293.7% in the fourth 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 period. Institutional investors own 75.10% of the company's stock.
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Norfolk Southern Stock Performance
Shares of NSC opened at $276.78 on Wednesday. The company has a market cap of $62.17 billion, a price-to-earnings ratio of 18.70, a P/E/G ratio of 2.46 and a beta of 1.31. The business's fifty day simple moving average is $271.16 and its two-hundred day simple moving average is $248.09. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $291.69. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.11.
- These 3 industrial stocks just got upgraded ahead of earnings
Norfolk Southern (NYSE:NSC - Get Free Report) last announced its quarterly earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $3.24 by $0.05. Norfolk Southern had a return on equity of 19.35% and a net margin of 27.51%.The firm had revenue of $3.11 billion for the quarter, compared to the consensus estimate of $3.10 billion. Norfolk Southern has set its FY 2025 guidance at EPS. Research analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.
Norfolk Southern Dividend Announcement
The company also recently declared a quarterly dividend, which was paid on Wednesday, August 20th. Stockholders of record on Friday, August 1st were issued a dividend of $1.35 per share. This represents a $5.40 annualized dividend and a dividend yield of 2.0%. The ex-dividend date of this dividend was Friday, August 1st. Norfolk Southern's dividend payout ratio is presently 36.49%.
Analyst Upgrades and Downgrades
- All Aboard! The Sell-Side Has Railroads In Reversal
Several brokerages have commented on NSC. Susquehanna reissued a "neutral" rating and set a $260.00 price objective (up previously from $250.00) on shares of Norfolk Southern in a research report on Tuesday, June 24th. Evercore ISI reissued an "in-line" rating and set a $289.00 price objective (up previously from $279.00) on shares of Norfolk Southern in a research note on Wednesday, July 30th. Royal Bank Of Canada downgraded shares of Norfolk Southern from a "moderate buy" rating to a "hold" rating in a research note on Tuesday, July 29th. TD Cowen upgraded Norfolk Southern from a "hold" rating to a "buy" rating and lifted their price objective for the company from $263.00 to $323.00 in a research note on Monday, July 21st. Finally, JPMorgan Chase & Co. reissued a "neutral" rating and issued a $288.00 target price (up from $282.00) on shares of Norfolk Southern in a report on Wednesday, July 30th. Seven research analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of "Hold" and a consensus price target of $285.15.
Read Our Latest Stock Report on Norfolk Southern
Norfolk Southern Company Profile
(Free Report)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.
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