Allspring Global Investments Holdings LLC Has $2.80 Million Stock Position in Norfolk Southern Corporation $NSC

Allspring Global Investments Holdings LLC reduced its position in Norfolk Southern Corporation (NYSE:NSC) by 0.6% in the 2nd quarter, according to its most recent filing with the SEC. The fund owned 10,665 shares of the railroad operator’s stock after selling 63 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Norfolk Southern were worth $2,798,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of NSC. Price T Rowe Associates Inc. MD lifted its stake in Norfolk Southern by 31.5% in the 1st quarter. Price T Rowe Associates Inc. MD now owns 11,319,010 shares of the railroad operator’s stock valued at $2,680,910,000 after purchasing an additional 2,710,930 shares during the last quarter. Kingstone Capital Partners Texas LLC acquired a new stake in Norfolk Southern in the 2nd quarter valued at about $321,393,000. Adage Capital Partners GP L.L.C. lifted its stake in Norfolk Southern by 341.9% in the 1st quarter. Adage Capital Partners GP L.L.C. now owns 789,950 shares of the railroad operator’s stock valued at $187,100,000 after purchasing an additional 611,198 shares during the last quarter. Nuveen LLC acquired a new stake in Norfolk Southern in the 1st quarter valued at about $122,256,000. Finally, Phoenix Financial Ltd. acquired a new stake in Norfolk Southern in the 1st quarter valued at about $110,209,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have issued reports on NSC. Barclays raised their price objective on shares of Norfolk Southern from $300.00 to $320.00 and gave the stock an “overweight” rating in a research report on Thursday, October 2nd. Royal Bank Of Canada downgraded shares of Norfolk Southern from a “moderate buy” rating to a “hold” rating in a research report on Tuesday, July 29th. Susquehanna raised their price objective on shares of Norfolk Southern from $284.00 to $295.00 and gave the stock a “neutral” rating in a research report on Thursday, September 25th. Benchmark downgraded Norfolk Southern from a “buy” rating to a “hold” rating in a research report on Wednesday, July 30th. Finally, Robert W. Baird lifted their price objective on Norfolk Southern from $255.00 to $300.00 and gave the company a “neutral” rating in a report on Tuesday, July 22nd. Eight equities research analysts have rated the stock with a Buy rating and fourteen have assigned a Hold rating to the stock. According to MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $293.80.

Norfolk Southern Stock Performance

NYSE NSC opened at $289.83 on Wednesday. The firm’s fifty day moving average price is $285.63 and its two-hundred day moving average price is $260.97. The stock has a market cap of $65.10 billion, a PE ratio of 19.58, a PEG ratio of 2.62 and a beta of 1.33. Norfolk Southern Corporation has a fifty-two week low of $201.63 and a fifty-two week high of $302.24. The company has a debt-to-equity ratio of 1.11, a quick ratio of 0.71 and a current ratio of 0.79.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share for the quarter, topping analysts’ consensus estimates of $3.24 by $0.05. The firm had revenue of $3.11 billion for the quarter, compared to analysts’ expectations 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. On average, equities analysts expect that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

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.