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

Alliancebernstein L.P. cut its position in shares of Norfolk Southern Co. (NYSE:NSC) by 36.8% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 560,321 shares of the railroad operator’s stock after selling 326,878 shares during the quarter. Alliancebernstein L.P.’s holdings in Norfolk Southern were worth $131,507,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of NSC. United Bank lifted its holdings in shares of Norfolk Southern by 2.4% in the 3rd quarter. United Bank now owns 8,875 shares of the railroad operator’s stock worth $2,205,000 after acquiring an additional 204 shares during the last quarter. Benjamin Edwards Inc. bought a new stake in Norfolk Southern in the third quarter worth $1,346,000. Hilltop Holdings Inc. boosted its position in Norfolk Southern by 34.4% during the third quarter. Hilltop Holdings Inc. now owns 2,830 shares of the railroad operator’s stock valued at $703,000 after buying an additional 724 shares during the period. Investment Management Corp of Ontario grew its stake in shares of Norfolk Southern by 47.5% during the third quarter. Investment Management Corp of Ontario now owns 7,457 shares of the railroad operator’s stock valued at $1,853,000 after buying an additional 2,400 shares during the last quarter. Finally, Morse Asset Management Inc purchased a new position in shares of Norfolk Southern in the third quarter worth about $30,000. 75.10% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at Norfolk Southern

In other Norfolk Southern news, Director Gilbert H. Lamphere acquired 607 shares of Norfolk Southern stock in a transaction that occurred on Friday, January 31st. The stock was bought at an average cost of $259.86 per share, for a total transaction of $157,735.02. Following the acquisition, the director now owns 2,487 shares of the company’s stock, valued at $646,271.82. This represents a 32.29 % increase in their ownership of the stock. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. 0.19% of the stock is currently owned by insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on NSC shares. Deutsche Bank Aktiengesellschaft started coverage on Norfolk Southern in a report on Friday, March 7th. They set a “buy” rating and a $293.00 target price for the company. UBS Group cut their target price on shares of Norfolk Southern from $305.00 to $284.00 and set a “buy” rating on the stock in a report on Wednesday. Stephens upped their price target on shares of Norfolk Southern from $260.00 to $275.00 and gave the company an “equal weight” rating in a report on Thursday, January 30th. Robert W. Baird raised their price target on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a report on Thursday, January 30th. Finally, Barclays lowered their price objective on shares of Norfolk Southern from $305.00 to $290.00 and set an “overweight” rating for the company in a research note on Wednesday. One analyst has rated the stock with a sell rating, six have assigned a hold rating and twelve have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $272.74.

Norfolk Southern Stock Up 1.0 %

Shares of NYSE:NSC opened at $238.95 on Thursday. Norfolk Southern Co. has a 12-month low of $206.71 and a 12-month high of $277.60. The stock has a market capitalization of $54.11 billion, a price-to-earnings ratio of 20.67, a PEG ratio of 2.31 and a beta of 1.35. The stock has a fifty day simple moving average of $244.55 and a two-hundred day simple moving average of $248.79. 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 announced its quarterly earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share (EPS) for the quarter, topping 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%. On average, research analysts anticipate that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

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

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.