Norfolk Southern Corporation $NSC Stock Holdings Lessened by Alliancebernstein L.P.

Key Points

• Alliancebernstein L.P. has decreased its stake in Norfolk Southern Corporation by 38.5%, holding 344,726 shares worth approximately $81.65 million.
• Institutional investors currently own 75.10% of Norfolk Southern's stock, with Vanguard Group Inc. and Price T Rowe Associates Inc. increasing their stakes significantly during the first quarter.
• Norfolk Southern's latest earnings report showed an EPS of $3.29, surpassing analysts' expectations, and the company recently declared a quarterly dividend of $1.35 per share.

Alliancebernstein L.P. lowered its holdings in Norfolk Southern Corporation (NYSE:NSC - Free Report) by 38.5% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 344,726 shares of the railroad operator's stock after selling 215,595 shares during the period. Alliancebernstein L.P. owned approximately 0.15% of Norfolk Southern worth $81,648,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in the business. CoreCap Advisors LLC increased its holdings in Norfolk Southern by 1.5% in the 4th quarter. CoreCap Advisors LLC now owns 3,097 shares of the railroad operator's stock valued at $727,000 after purchasing an additional 45 shares in the last quarter. Canandaigua National Trust Co of Florida boosted its position in shares of Norfolk Southern by 4.9% in the first quarter. Canandaigua National Trust Co of Florida now owns 956 shares of the railroad operator's stock worth $226,000 after buying an additional 45 shares during the period. Capital Investment Advisory Services LLC grew its stake in shares of Norfolk Southern by 1.8% in the first quarter. Capital Investment Advisory Services LLC now owns 2,556 shares of the railroad operator's stock valued at $605,000 after buying an additional 45 shares in the last quarter. Certified Advisory Corp raised its holdings in shares of Norfolk Southern by 1.0% during the 1st quarter. Certified Advisory Corp now owns 4,644 shares of the railroad operator's stock valued at $1,100,000 after buying an additional 47 shares during the period. Finally, Malaga Cove Capital LLC raised its holdings in shares of Norfolk Southern by 2.1% during the 4th quarter. Malaga Cove Capital LLC now owns 2,451 shares of the railroad operator's stock valued at $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

A number of research firms have weighed in on NSC. Sanford C. Bernstein upped their price target on Norfolk Southern from $295.00 to $305.00 and gave the stock an "outperform" rating in a report on Monday, July 21st. Bank of America boosted their target price on shares of Norfolk Southern from $290.00 to $305.00 and gave the stock a "buy" rating in a research report on Thursday, July 17th. Evercore ISI restated an "in-line" rating and issued a $289.00 target price (up from $279.00) on shares of Norfolk Southern in a research note on Wednesday, July 30th. The Goldman Sachs Group reaffirmed a "neutral" rating and set a $278.00 price target on shares of Norfolk Southern in a research note on Monday, June 2nd. Finally, Citigroup boosted their price objective on shares of Norfolk Southern from $288.00 to $305.00 and gave the stock a "neutral" rating in a report on Wednesday, July 30th. Seven investment analysts have rated the stock with a Buy rating and fourteen have issued a Hold rating to the company's stock. According to data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $285.15.

Norfolk Southern Stock Up 0.3%

NSC stock traded up $0.90 during mid-day trading on Friday, hitting $274.90. 2,243,787 shares of the company were exchanged, compared to its average volume of 1,923,360. The company has a market capitalization of $61.75 billion, a PE ratio of 18.57, a price-to-earnings-growth ratio of 2.43 and a beta of 1.29. The firm has a fifty day simple moving average of $276.13 and a 200 day simple moving average of $250.29. The company has a current ratio of 0.79, a quick ratio of 0.71 and a debt-to-equity ratio of 1.11. Norfolk Southern Corporation has a twelve month low of $201.63 and a twelve month high of $291.69.

Norfolk Southern (NYSE:NSC - Get Free Report) last posted its quarterly earnings results on Tuesday, July 29th. The railroad operator reported $3.29 EPS for the quarter, topping analysts' consensus estimates of $3.24 by $0.05. The business had revenue of $3.11 billion during the quarter, compared to the consensus estimate of $3.10 billion. Norfolk Southern had a return on equity of 19.35% and a net margin of 27.51%. Norfolk Southern has set its FY 2025 guidance at EPS. On average, research analysts forecast that Norfolk Southern Corporation will post 13 earnings per share for the current fiscal year.

Norfolk Southern Announces Dividend

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 $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.0%. The ex-dividend date was Friday, August 1st. Norfolk Southern's payout ratio is 36.49%.

About Norfolk Southern

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.