Norfolk Southern (NSC)
Hauls merchandise, containers, trailers, and coal across the eastern United States.
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Hauls merchandise, intermodal containers and trailers, and coal across an eastern U.S. rail network linked to major ports and other carriers. Revenue comes mainly from contract-priced or otherwise exempt freight, while network economics remain capital intensive and regulated.
Moves raw materials, intermediate goods, and finished products across the Southeast, East, and Midwest, with interchange links across the United States and access to Atlantic and Gulf Coast ports. Merchandise traffic spans agriculture, forest and consumer products, chemicals, metals and construction, and automotive freight.
Pairs carload service with the most extensive intermodal network in the eastern United States, handling domestic and international containers and trailers. Coal service reaches power generation, export, metallurgical, and industrial markets. Dense connections among manufacturing plants, distribution centers, and ports support shipper access.
Operates through Norfolk Southern Railway in a capital-intensive, mostly unionized industry where safety, service reliability, and asset utilization shape performance. Most rates are set through private contracts or exempt price quotes, while the Surface Transportation Board regulates key commercial and network matters. A proposed acquisition by Union Pacific remains subject to Board approval.
Company facts
Target rangeAs of Sep 22, 2026
Latest analyst notes
| Date | Firm | Action | Prior | Current |
|---|---|---|---|---|
| Jul 27, 2026 | BMO Capital | Reiterate | Rating: —Target: $310 | Target: $355 |
| Jul 27, 2026 | Robert W. Baird | Target | Target: $360 | Target: $377 |
| Jul 24, 2026 | UBS | Reiterate | Rating: —Target: $327 | Target: $363 |
| Jul 24, 2026 | Barclays | Reiterate | Rating: —Target: $360 | Target: $400 |
| Jul 23, 2026 | Evercore ISI | Target | Target: $325 | Target: $358 |
EPSReportedEstimate
RevenueReportedEstimate
Balance sheet, Jun 30, 2026Cash & short-term investments $1.07B · Total debt $16.62B · Total assets $45.12B · Shareholders' equity $16.25B
- Revenue
- $3.47B
- Operating income
- $1.12B
- Net income
- $734.0M
HistoryDividendAnnual yield
| Institutions | 76.65% | 172.16M shares | |
|---|---|---|---|
| 1,908 holders · as of Jun 30, 2026 | |||
| Insiders | 0.05% | 107.7K shares | |
| 12 holders · as of Sep 15, 2026 | |||
| Other | 23.30% | 52.35M shares | |
| remainder | |||
224.61M company shares as of Sep 23, 2026 · institutions as of Jun 30, 2026 · holders as of their latest filing
Top shareholders13F · 13D/G · Form 4
| Holder | Stake | Shares | Date |
|---|---|---|---|
BlackRock, Inc.Institution | 7.12% | 16.00M | as of Jun 30, 2026 |
Vanguard Capital Management LLCInstitution | 6.53% | 14.67M | as of Jun 30, 2026 |
State Street CorpInstitution | 4.56% | 10.24M | as of Jun 30, 2026 |
Vanguard Portfolio Management LLCInstitution | 3.21% | 7.22M | as of Jun 30, 2026 |
Millennium Management LLCInstitution | 2.32% | 5.20M | as of Jun 30, 2026 |
Insider tradesForm 4
| Date | Insider | Role | Shares | Avg price |
|---|---|---|---|---|
| Dec 5, 2025 | William Jr. Clyburn | director | +204 | $294.79 |
| Nov 19, 2025 | Anil Bhatt | officer: EVP & CIDO | −900 | $281.60 |
| Nov 5, 2025 | Sameh Fahmy | director | +1,650 | $282.97 |
| Oct 27, 2025 | Richard H. Anderson | director | +2,600 | $281.86 |
- CSX
Eastern Class I rival; head-to-head on every eastern corridor and commodity.
- J.B. Hunt
Largest US intermodal trucker; contests NSC's core intermodal segment.
- Union Pacific
Western Class I and pending acquirer; competes at Chicago/Memphis gateways.
- Old Dominion Freight Line
Premier eastern LTL carrier; competes on time-sensitive merchandise loads.
- Canadian Pacific Kansas City
Transnational rail (Canada–US–Mexico); competes at Chicago and border gateways.
- Canadian National Railway
Canada's largest railroad; contests cross-border traffic at US gateways.
- XPO
North American LTL carrier (~9% share); competes on eastern merchandise lanes.
Compare
| Company | Price | Change | |||||
|---|---|---|---|---|---|---|---|
| Norfolk Southern | $315.46 | +0.46% | $70.53B | 26.8 | 23.1 | 5.6 | +12.5% |
| CSX | $47.09 | +1.08% | $86.31B | 26.9 | 22.0 | 5.9 | +10.1% |
| J.B. Hunt | $236.38 | −0.43% | $22.30B | 33.6 | 27.5 | 1.8 | +19.4% |
| Union Pacific | $275.81 | +0.51% | $163.02B | 22.2 | 20.3 | 6.4 | +11.5% |
| Old Dominion Freight Line | $177.75 | +0.25% | $36.87B | 34.2 | 28.4 | 6.6 | +10.4% |
| Canadian Pacific Kansas City | $88.11 | +0.14% | $77.35B | 28.8 | 24.0 | 7.1 | +7.9% |
| Canadian National Railway | $119.74 | +0.18% | $72.30B | 21.6 | 21.2 | 5.7 | +6.7% |
| XPO | $181.67 | +2.25% | $20.80B | 52.4 | 30.8 | 2.4 | +13.2% |
| Median | 28.8 | 24.0 | 5.9 | +10.4% |