1ST Source Bank Has $6.83 Million Stock Holdings in Norfolk Southern Co. (NYSE:NSC)

1ST Source Bank decreased its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 1.5% in the 2nd quarter, according to its most recent 13F filing with the SEC. The fund owned 31,798 shares of the railroad operator’s stock after selling 472 shares during the period. 1ST Source Bank’s holdings in Norfolk Southern were worth $6,827,000 at the end of the most recent reporting period.

A number of other large investors also recently made changes to their positions in the stock. Gryphon Financial Partners LLC lifted its stake in Norfolk Southern by 7.5% in the fourth quarter. Gryphon Financial Partners LLC now owns 2,840 shares of the railroad operator’s stock valued at $672,000 after buying an additional 198 shares during the period. Avantax Advisory Services Inc. raised its position in shares of Norfolk Southern by 18.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 7,355 shares of the railroad operator’s stock valued at $1,738,000 after acquiring an additional 1,149 shares during the period. Foundations Investment Advisors LLC grew its holdings in Norfolk Southern by 6.7% during the fourth quarter. Foundations Investment Advisors LLC now owns 2,514 shares of the railroad operator’s stock valued at $642,000 after purchasing an additional 158 shares during the period. NorthRock Partners LLC increased its stake in Norfolk Southern by 11.3% in the fourth quarter. NorthRock Partners LLC now owns 1,784 shares of the railroad operator’s stock valued at $422,000 after purchasing an additional 181 shares in the last quarter. Finally, Independent Advisor Alliance raised its holdings in Norfolk Southern by 9.5% in the fourth quarter. Independent Advisor Alliance now owns 8,902 shares of the railroad operator’s stock worth $2,104,000 after purchasing an additional 771 shares during the period. Institutional investors and hedge funds own 75.10% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages have recently issued reports on NSC. Sanford C. Bernstein decreased their price target on shares of Norfolk Southern from $288.00 to $285.00 and set an “outperform” rating for the company in a report on Monday, July 8th. Morgan Stanley reissued an “underweight” rating and issued a $175.00 target price on shares of Norfolk Southern in a research note on Monday, July 8th. TD Cowen raised their price target on Norfolk Southern from $251.00 to $253.00 and gave the stock a “hold” rating in a research report on Friday, July 26th. Wells Fargo & Company boosted their price objective on Norfolk Southern from $260.00 to $270.00 and gave the company an “overweight” rating in a research report on Friday, July 26th. Finally, Susquehanna raised their target price on shares of Norfolk Southern from $245.00 to $255.00 and gave the stock a “neutral” rating in a report on Friday, July 26th. One equities research analyst has rated the stock with a sell rating, five have assigned a hold rating and twelve have assigned a buy rating to the company. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $264.24.

Norfolk Southern Trading Down 3.5 %

Shares of NYSE:NSC opened at $245.80 on Friday. The stock has a market capitalization of $55.58 billion, a PE ratio of 39.58, a price-to-earnings-growth ratio of 2.48 and a beta of 1.31. The company’s 50-day moving average price is $240.36 and its two-hundred day moving average price is $238.22. The company has a debt-to-equity ratio of 1.30, a current ratio of 0.63 and a quick ratio of 0.54. Norfolk Southern Co. has a one year low of $183.09 and a one year high of $263.66.

Norfolk Southern (NYSE:NSC) last released its earnings results on Thursday, July 25th. The railroad operator reported $3.06 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.86 by $0.20. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. Norfolk Southern had a return on equity of 19.64% and a net margin of 14.85%. Norfolk Southern’s revenue was up 2.1% on a year-over-year basis. During the same quarter in the prior year, the company posted $2.95 earnings per share. On average, equities analysts forecast that Norfolk Southern Co. will post 11.8 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Tuesday, August 20th. Investors of record on Friday, August 2nd were paid a $1.35 dividend. The ex-dividend date was Friday, August 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.20%. Norfolk Southern’s dividend payout ratio is presently 86.96%.

Insider Buying and Selling

In other news, Director Sameh Fahmy acquired 700 shares of the firm’s stock in a transaction dated Thursday, August 1st. The stock was bought at an average price of $245.15 per share, with a total value of $171,605.00. Following the transaction, the director now directly owns 7,700 shares in the company, valued at approximately $1,887,655. The purchase was disclosed in a filing with the SEC, which is accessible through this hyperlink. In other Norfolk Southern news, Director Sameh Fahmy acquired 700 shares of the company’s stock in a transaction on Thursday, August 1st. The shares were purchased at an average price of $245.15 per share, for a total transaction of $171,605.00. Following the completion of the purchase, the director now directly owns 7,700 shares of the company’s stock, valued at $1,887,655. The transaction was disclosed in a document filed with the SEC, which is available through this link. Also, EVP Nabanita C. Nag sold 355 shares of Norfolk Southern stock in a transaction that occurred on Monday, July 29th. The stock was sold at an average price of $249.38, for a total value of $88,529.90. Following the transaction, the executive vice president now owns 1,488 shares of the company’s stock, valued at $371,077.44. The disclosure for this sale can be found here. 0.19% of the stock is owned by corporate insiders.

About Norfolk Southern

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.