Norfolk Southern Co. (NYSE:NSC) Shares Sold by Corebridge Financial Inc.

Corebridge Financial Inc. lessened its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 4.5% in the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 51,998 shares of the railroad operator’s stock after selling 2,456 shares during the quarter. Corebridge Financial Inc.’s holdings in Norfolk Southern were worth $12,204,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Financial Life Planners purchased a new stake in shares of Norfolk Southern during the fourth quarter worth about $27,000. Keystone Financial Group Inc. acquired a new stake in Norfolk Southern during the fourth quarter worth approximately $27,000. Bank of Jackson Hole Trust purchased a new stake in Norfolk Southern in the 4th quarter worth approximately $27,000. Morse Asset Management Inc purchased a new position in shares of Norfolk Southern during the 3rd quarter worth $30,000. Finally, Vision Financial Markets LLC acquired a new stake in shares of Norfolk Southern during the fourth quarter worth $28,000. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Price Performance

Shares of NSC stock opened at $233.85 on Wednesday. The firm has a fifty day simple moving average of $245.91 and a 200-day simple moving average of $249.52. The company has a market capitalization of $52.95 billion, a PE ratio of 20.23, a price-to-earnings-growth ratio of 2.31 and a beta of 1.35. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month high of $277.60. The company has a current ratio of 0.90, a quick ratio of 0.82 and a debt-to-equity ratio of 1.16.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, beating analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. Equities research analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.31%. Norfolk Southern’s dividend payout ratio is presently 46.71%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on NSC. Stephens increased their target price on Norfolk Southern from $260.00 to $275.00 and gave the stock an “equal weight” rating in a research report on Thursday, January 30th. Royal Bank of Canada raised their target price on shares of Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Wells Fargo & Company dropped their price target on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating for the company in a research report on Tuesday, January 7th. Benchmark reiterated a “buy” rating and issued a $285.00 price target on shares of Norfolk Southern in a report on Thursday, January 30th. Finally, Deutsche Bank Aktiengesellschaft initiated coverage on Norfolk Southern in a research report on Friday, March 7th. They issued a “buy” rating and a $293.00 target price on the stock. One equities research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus target price of $275.63.

Insider Buying and Selling at Norfolk Southern

In related news, Director Gilbert H. Lamphere bought 607 shares of the company’s stock in a transaction dated Friday, January 31st. The stock was bought at an average price of $259.86 per share, with a total value of $157,735.02. Following the transaction, the director now owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. 0.19% of the stock is currently owned by corporate insiders.

Norfolk Southern 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.