1ST Source Bank Decreases Stake in Norfolk Southern Co. (NYSE:NSC)

1ST Source Bank reduced its holdings in Norfolk Southern Co. (NYSE:NSC - Free Report) by 9.8% during the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 28,696 shares of the railroad operator's stock after selling 3,102 shares during the quarter. 1ST Source Bank's holdings in Norfolk Southern were worth $7,131,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Synovus Financial Corp boosted its holdings in shares of Norfolk Southern by 0.8% in the 3rd quarter. Synovus Financial Corp now owns 28,715 shares of the railroad operator's stock worth $7,135,000 after purchasing an additional 229 shares in the last quarter. Tidal Investments LLC boosted its stake in Norfolk Southern by 10.7% in 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 in the last quarter. Wilmington Savings Fund Society FSB boosted 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 worth $13,980,000 after buying an additional 10,593 shares in the last quarter. World Investment Advisors LLC grew its position in Norfolk Southern by 10.7% during the third quarter. World Investment Advisors LLC now owns 11,226 shares of the railroad operator's stock valued at $2,790,000 after acquiring an additional 1,089 shares during the last quarter. Finally, Anchor Investment Management LLC raised its stake in shares of Norfolk Southern by 1.2% during the third quarter. Anchor Investment Management LLC now owns 14,265 shares of the railroad operator's stock worth $3,545,000 after acquiring an additional 170 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company's stock.

Insider Activity at Norfolk Southern

In related news, Director Sameh Fahmy bought 1,000 shares of the business's stock in a transaction dated Thursday, October 24th. The shares were purchased at an average cost of $255.00 per share, with a total value of $255,000.00. Following the completion of the purchase, the director now owns 10,000 shares in the company, valued at approximately $2,550,000. The trade was a 11.11 % increase in their position. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts recently commented on the stock. Stephens reaffirmed an "equal weight" rating and set a $263.00 target price on shares of Norfolk Southern in a report on Wednesday, October 23rd. Sanford C. Bernstein raised their price objective on Norfolk Southern from $285.00 to $286.00 and gave the company an "outperform" rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. boosted their target price on Norfolk Southern from $283.00 to $288.00 and gave the company an "overweight" rating in a research note on Wednesday, October 23rd. Wells Fargo & Company raised their price target on Norfolk Southern from $270.00 to $280.00 and gave the stock an "overweight" rating in a research report on Wednesday, October 23rd. Finally, Bank of America boosted their price objective on Norfolk Southern from $276.00 to $291.00 and gave the company a "buy" rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have given a hold rating and thirteen have given a buy rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and a consensus target price of $275.68.

Norfolk Southern Stock Down 0.8 %

NSC traded down $2.09 on Friday, hitting $246.22. The company had a trading volume of 1,068,328 shares, compared to its average volume of 1,245,537. The stock has a fifty day simple moving average of $259.16 and a 200-day simple moving average of $243.50. 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 firm has a market capitalization of $55.70 billion, a P/E ratio of 23.12, a P/E/G ratio of 2.35 and a beta of 1.31. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating the consensus estimate of $3.11 by $0.14. The company had revenue of $3.10 billion for the quarter, compared to analyst estimates of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The firm's revenue was up 3.3% on a year-over-year basis. During the same period in the previous year, the company posted $2.65 earnings per share. As a group, equities analysts expect that Norfolk Southern Co. will post 11.82 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Friday, November 1st were paid a $1.35 dividend. The ex-dividend date of this dividend was Friday, November 1st. This represents a $5.40 annualized dividend and a dividend yield of 2.19%. Norfolk Southern's payout ratio is 50.70%.

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.