Alliancebernstein L.P. Sells 326,878 Shares of Norfolk Southern Co. (NYSE:NSC)

Alliancebernstein L.P. decreased its holdings in Norfolk Southern Co. (NYSE:NSC) by 36.8% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 560,321 shares of the railroad operator’s stock after selling 326,878 shares during the quarter. Alliancebernstein L.P. owned 0.25% of Norfolk Southern worth $131,507,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in the stock. Vanguard Group Inc. boosted its position in shares of Norfolk Southern by 0.7% during the fourth quarter. Vanguard Group Inc. now owns 20,089,164 shares of the railroad operator’s stock valued at $4,714,927,000 after buying an additional 139,485 shares during the last quarter. State Street Corp lifted its stake in Norfolk Southern by 2.1% during the 3rd quarter. State Street Corp now owns 9,330,849 shares of the railroad operator’s stock valued at $2,318,716,000 after acquiring an additional 196,249 shares in the last quarter. Geode Capital Management LLC boosted its holdings in Norfolk Southern by 1.4% during the 3rd quarter. Geode Capital Management LLC now owns 4,580,925 shares of the railroad operator’s stock worth $1,133,828,000 after acquiring an additional 62,186 shares during the last quarter. Boston Partners raised its holdings in shares of Norfolk Southern by 16.9% in the fourth quarter. Boston Partners now owns 4,020,392 shares of the railroad operator’s stock valued at $945,385,000 after purchasing an additional 580,293 shares during the last quarter. Finally, EdgePoint Investment Group Inc. lifted its position in shares of Norfolk Southern by 2.7% during the third quarter. EdgePoint Investment Group Inc. now owns 3,892,717 shares of the railroad operator’s stock valued at $967,340,000 after purchasing an additional 103,281 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have issued reports on NSC shares. Wells Fargo & Company reduced their price objective on shares of Norfolk Southern from $300.00 to $290.00 and set an “overweight” rating for the company in a research report on Thursday, March 27th. Loop Capital lowered Norfolk Southern from a “buy” rating to a “hold” rating and dropped their price target for the stock from $289.00 to $256.00 in a report on Monday, February 3rd. Deutsche Bank Aktiengesellschaft began coverage on Norfolk Southern in a research report on Friday, March 7th. They issued a “buy” rating and a $293.00 price objective on the stock. UBS Group decreased their target price on Norfolk Southern from $305.00 to $284.00 and set a “buy” rating for the company in a research report on Wednesday. Finally, Bank of America cut their price target on shares of Norfolk Southern from $292.00 to $272.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. One research analyst has rated the stock with a sell rating, six have given a hold rating and twelve have issued a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and a consensus price target of $272.74.

Insider Buying and Selling at Norfolk Southern

In related news, Director Gilbert H. Lamphere acquired 607 shares of the firm’s stock in a transaction that occurred on Friday, January 31st. The shares were bought at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the transaction, the director now owns 2,487 shares in the company, 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 Securities & Exchange Commission, which is available through this hyperlink. Insiders own 0.19% of the company’s stock.

Norfolk Southern Trading Up 1.0 %

Shares of NSC opened at $238.95 on Thursday. The business’s 50-day moving average price is $244.55 and its 200-day moving average price is $248.79. The company has a quick ratio of 0.82, a current ratio of 0.90 and a debt-to-equity ratio of 1.16. Norfolk Southern Co. has a twelve month low of $206.71 and a twelve month high of $277.60. The stock has a market cap of $54.11 billion, a PE ratio of 20.67, a P/E/G ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. On average, equities analysts forecast that Norfolk Southern Co. will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were paid a $1.35 dividend. The ex-dividend date was Friday, February 7th. This represents a $5.40 dividend on an annualized basis and a yield of 2.26%. Norfolk Southern’s dividend payout ratio is currently 46.71%.

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.