Korea Investment CORP Sells 31,750 Shares of Norfolk Southern Corporation $NSC

Key Points

• Korea Investment CORP sold 31,750 shares of Norfolk Southern Corporation, reducing its stake by 22.7%, and now holds 108,131 shares worth $25.6 million.
• UBS Group raised its price target for Norfolk Southern from $275 to $279, while Bank of America and Citigroup increased their targets to $305, reflecting strong analyst support with several "buy" ratings.
• Norfolk Southern announced a quarterly dividend of $1.35 per share, resulting in an annualized dividend yield of 1.9%, with a payout ratio of 36.49%.

Korea Investment CORP decreased its position in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 22.7% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The firm owned 108,131 shares of the railroad operator's stock after selling 31,750 shares during the period. Korea Investment CORP's holdings in Norfolk Southern were worth $25,611,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. CoreCap Advisors LLC increased its holdings in shares of Norfolk Southern by 1.5% in the fourth quarter. CoreCap Advisors LLC now owns 3,097 shares of the railroad operator's stock worth $727,000 after acquiring an additional 45 shares in the last quarter. Canandaigua National Trust Co of Florida lifted its holdings in shares of Norfolk Southern by 4.9% during the 1st quarter. Canandaigua National Trust Co of Florida now owns 956 shares of the railroad operator's stock valued at $226,000 after purchasing an additional 45 shares in the last quarter. Capital Investment Advisory Services LLC grew its position in shares of Norfolk Southern by 1.8% in the 1st quarter. Capital Investment Advisory Services LLC now owns 2,556 shares of the railroad operator's stock valued at $605,000 after purchasing an additional 45 shares during the period. Certified Advisory Corp increased its stake in Norfolk Southern by 1.0% during the 1st quarter. Certified Advisory Corp now owns 4,644 shares of the railroad operator's stock worth $1,100,000 after purchasing an additional 47 shares in the last quarter. Finally, Malaga Cove Capital LLC raised its holdings in Norfolk Southern by 2.1% during the 4th quarter. Malaga Cove Capital LLC now owns 2,451 shares of the railroad operator's stock worth $575,000 after buying an additional 50 shares during the period. Institutional investors and hedge funds own 75.10% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently weighed in on NSC shares. UBS Group upped their price target on shares of Norfolk Southern from $275.00 to $279.00 and gave the company a "buy" rating in a report on Friday, May 30th. Jefferies Financial Group reaffirmed a "hold" rating and issued a $300.00 target price on shares of Norfolk Southern in a research note on Friday, July 25th. Royal Bank Of Canada cut Norfolk Southern from a "moderate buy" rating to a "hold" rating in a report on Tuesday, July 29th. Bank of America lifted their price target on Norfolk Southern from $290.00 to $305.00 and gave the company a "buy" rating in a research note on Thursday, July 17th. Finally, Citigroup upped their price objective on Norfolk Southern from $288.00 to $305.00 and gave the stock a "neutral" rating in a research report on Wednesday, July 30th. Seven equities research analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $285.15.

Norfolk Southern Trading Up 2.0%

NSC stock opened at $285.2970 on Wednesday. Norfolk Southern Corporation has a one year low of $201.63 and a one year high of $288.11. The stock has a market cap of $64.08 billion, a price-to-earnings ratio of 19.28, a price-to-earnings-growth ratio of 2.48 and a beta of 1.31. The company has a fifty day moving average price of $268.07 and a two-hundred day moving average price of $247.04. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.79 and a quick ratio of 0.71.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued 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 company 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%. Norfolk Southern has set its FY 2025 guidance at EPS. Equities analysts anticipate that Norfolk Southern Corporation will post 13 EPS for the current year.

Norfolk Southern Announces Dividend

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

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.

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