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

1ST Source Bank lowered its stake in shares of Norfolk Southern Co. (NYSE:NSC) by 1.8% during the 4th quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor 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 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently made changes to their positions in the stock. United Bank raised its position in Norfolk Southern by 2.4% in the 3rd quarter. United Bank now owns 8,875 shares of the railroad operator’s stock worth $2,205,000 after purchasing an additional 204 shares during the period. GSA Capital Partners LLP raised its position in Norfolk Southern by 17.2% in the 3rd quarter. GSA Capital Partners LLP now owns 2,639 shares of the railroad operator’s stock worth $656,000 after purchasing an additional 388 shares during the period. CIBC Asset Management Inc raised its position in Norfolk Southern by 3.8% in the 3rd quarter. CIBC Asset Management Inc now owns 43,746 shares of the railroad operator’s stock worth $10,871,000 after purchasing an additional 1,582 shares during the period. Empowered Funds LLC raised its position in Norfolk Southern by 4.9% in the 3rd quarter. Empowered Funds LLC now owns 16,845 shares of the railroad operator’s stock worth $4,186,000 after purchasing an additional 786 shares during the period. Finally, Coastline Trust Co purchased a new position in Norfolk Southern in the 3rd quarter worth $32,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Insiders Place Their Bets

In other Norfolk Southern news, Director Gilbert H. Lamphere acquired 607 shares of the business’s stock in a transaction on Friday, January 31st. The shares were acquired at an average price of $259.86 per share, for a total transaction of $157,735.02. Following the completion of the acquisition, the director now owns 2,487 shares in the company, valued at $646,271.82. This trade represents a 32.29 % increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 0.19% of the company’s stock.

Norfolk Southern Price Performance

Shares of NYSE NSC opened at $232.75 on Monday. Norfolk Southern Co. has a 1 year low of $206.71 and a 1 year high of $277.60. The company has a debt-to-equity ratio of 1.16, a current ratio of 0.90 and a quick ratio of 0.82. The company’s 50-day moving average is $246.30 and its 200 day moving average is $250.52. The stock has a market capitalization of $52.70 billion, a P/E ratio of 20.13, a P/E/G ratio of 2.31 and a beta of 1.35.

Norfolk Southern (NYSE:NSC) last announced its quarterly earnings data on Wednesday, January 29th. The railroad operator reported $3.04 earnings per share for the quarter, topping analysts’ consensus estimates of $2.97 by $0.07. Norfolk Southern had a net margin of 21.63% and a return on equity of 20.04%. On average, sell-side analysts expect that Norfolk Southern Co. will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Friday, February 7th were issued a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.32%. The ex-dividend date was Friday, February 7th. Norfolk Southern’s dividend payout ratio (DPR) is presently 46.71%.

Analysts Set New Price Targets

A number of equities analysts recently commented on the stock. Robert W. Baird lifted their target price 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. Benchmark reiterated a “buy” rating and issued a $285.00 target price on shares of Norfolk Southern in a research report on Thursday, January 30th. Deutsche Bank Aktiengesellschaft started coverage on shares of Norfolk Southern in a research report on Friday, March 7th. They issued a “buy” rating and a $293.00 price objective on the stock. JPMorgan Chase & Co. boosted their price objective on shares of Norfolk Southern from $284.00 to $286.00 and gave the company an “overweight” rating in a research report on Thursday, January 30th. Finally, Wells Fargo & Company decreased 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. One equities research analyst has rated the stock with a sell rating, six have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and a consensus target price of $276.95.

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.