1ST Source Bank Has $7.13 Million Holdings in Norfolk Southern Co. (NYSE:NSC)

1ST Source Bank trimmed its position in shares of Norfolk Southern Co. (NYSE:NSC) by 9.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 28,696 shares of the railroad operator’s stock after selling 3,102 shares during the period. 1ST Source Bank’s holdings in Norfolk Southern were worth $7,131,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Synovus Financial Corp lifted its holdings in shares of Norfolk Southern by 0.8% during the third quarter. Synovus Financial Corp now owns 28,715 shares of the railroad operator’s stock valued at $7,135,000 after acquiring an additional 229 shares during the period. Tidal Investments LLC raised its stake in shares of Norfolk Southern by 10.7% during the third quarter. Tidal Investments LLC now owns 11,716 shares of the railroad operator’s stock worth $2,911,000 after buying an additional 1,131 shares during the last quarter. Wilmington Savings Fund Society FSB lifted its stake in Norfolk Southern by 23.2% in the third quarter. Wilmington Savings Fund Society FSB now owns 56,256 shares of the railroad operator’s stock valued at $13,980,000 after buying an additional 10,593 shares during the period. World Investment Advisors LLC grew its holdings in shares of Norfolk Southern by 10.7% in the 3rd quarter. World Investment Advisors LLC now owns 11,226 shares of the railroad operator’s stock valued at $2,790,000 after buying an additional 1,089 shares during the period. Finally, Anchor Investment Management LLC lifted its stake in Norfolk Southern by 1.2% in the third quarter. Anchor Investment Management LLC now owns 14,265 shares of the railroad operator’s stock valued at $3,545,000 after buying an additional 170 shares in the last quarter. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

NSC has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on shares of Norfolk Southern from $283.00 to $288.00 and gave the stock an “overweight” rating in a report on Wednesday, October 23rd. Wells Fargo & Company increased their price objective on shares of Norfolk Southern from $270.00 to $280.00 and gave the stock an “overweight” rating in a research note on Wednesday, October 23rd. Stifel Nicolaus upped their price objective on Norfolk Southern from $241.00 to $245.00 and gave the stock a “hold” rating in a research report on Friday, October 11th. Citigroup upped their price target on shares of Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a report on Tuesday, November 12th. Finally, Barclays upped their price target on shares of Norfolk Southern from $290.00 to $305.00 and gave the company an “overweight” rating in a research report on Wednesday, November 13th. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $275.68.

Insiders Place Their Bets

In related news, Director Sameh Fahmy purchased 1,000 shares of the company’s stock in a transaction that occurred on Thursday, October 24th. The stock was acquired at an average price of $255.00 per share, with a total value of $255,000.00. Following the completion of the purchase, the director now directly owns 10,000 shares in the company, valued at $2,550,000. This trade represents a 11.11 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC stock traded down $0.09 on Friday, hitting $248.22. 128,687 shares of the stock traded hands, compared to its average volume of 1,241,427. The company has a debt-to-equity ratio of 1.21, a current ratio of 0.73 and a quick ratio of 0.65. The company has a market capitalization of $56.16 billion, a PE ratio of 23.23, a PEG ratio of 2.35 and a beta of 1.31. Norfolk Southern Co. has a 1-year low of $206.71 and a 1-year high of $277.60. The company’s fifty day moving average is $259.19 and its 200 day moving average is $243.36.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 EPS for the quarter, topping the consensus estimate of $3.11 by $0.14. Norfolk Southern had a net margin of 19.85% and a return on equity of 20.25%. The business had revenue of $3.10 billion during the quarter, compared to analysts’ expectations of $3.08 billion. During the same period last year, the company posted $2.65 earnings per share. The firm’s quarterly revenue was up 3.3% compared to the same quarter last year. On average, equities research analysts predict that Norfolk Southern Co. will post 11.82 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, November 20th. Shareholders of record on Friday, November 1st were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a yield of 2.18%. The ex-dividend date was Friday, November 1st. Norfolk Southern’s payout ratio is presently 50.70%.

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.