1ST Source Bank Cuts Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

1ST Source Bank decreased its position in shares of Norfolk Southern Co. (NYSE:NSC) by 1.8% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 28,193 shares of the railroad operator’s stock after selling 503 shares during the quarter. 1ST Source Bank’s holdings in Norfolk Southern were worth $6,617,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in NSC. Financial Life Planners bought a new position in Norfolk Southern during the fourth quarter valued at approximately $27,000. Keystone Financial Group Inc. bought a new position in Norfolk Southern during the fourth quarter valued at approximately $27,000. Bank of Jackson Hole Trust bought a new position in Norfolk Southern during the fourth quarter valued at approximately $27,000. Vision Financial Markets LLC bought a new position in Norfolk Southern during the fourth quarter valued at approximately $28,000. Finally, Morse Asset Management Inc bought a new position in Norfolk Southern during the third quarter valued at approximately $30,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insider Activity at Norfolk Southern

In related news, Director Gilbert H. Lamphere bought 607 shares of the business’s stock in a transaction that occurred on Friday, January 31st. The stock was bought at an average cost of $259.86 per share, with a total value of $157,735.02. Following the completion of the purchase, the director now owns 2,487 shares of the company’s stock, valued at approximately $646,271.82. The trade was a 32.29 % increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.19% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

NSC has been the topic of a number of research analyst reports. Wells Fargo & Company lowered their price objective on shares of Norfolk Southern from $320.00 to $300.00 and set an “overweight” rating on the stock in a research report on Tuesday, January 7th. Loop Capital downgraded shares of Norfolk Southern from a “buy” rating to a “hold” rating and lowered their price objective for the company from $289.00 to $256.00 in a research report on Monday, February 3rd. Royal Bank of Canada increased their price target on shares of Norfolk Southern from $275.00 to $286.00 and gave the stock an “outperform” rating in a research report on Thursday, January 30th. Benchmark reiterated a “buy” rating and issued a $285.00 price target on shares of Norfolk Southern in a research report on Thursday, January 30th. Finally, Robert W. Baird increased their price target on shares of Norfolk Southern from $260.00 to $270.00 and gave the stock a “neutral” rating in a research report on Thursday, January 30th. One research analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $276.95.

Norfolk Southern Stock Performance

NSC opened at $232.75 on Monday. The stock has a market capitalization of $52.70 billion, a price-to-earnings ratio of 20.13, a PEG ratio of 2.31 and a beta of 1.35. The company has a fifty day moving average of $246.30 and a 200 day moving average of $250.52. Norfolk Southern Co. has a fifty-two week low of $206.71 and a fifty-two week high of $277.60. The company has a debt-to-equity ratio of 1.16, a quick ratio of 0.82 and a current ratio of 0.90.

Norfolk Southern (NYSE:NSC) last posted its earnings results on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, beating the consensus estimate of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. As a group, sell-side analysts forecast that Norfolk Southern Co. will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Friday, February 7th were paid a dividend of $1.35 per share. The ex-dividend date was Friday, February 7th. This represents a $5.40 annualized dividend and a yield of 2.32%. Norfolk Southern’s payout ratio is 46.71%.

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.