Norfolk Southern Co. (NYSE:NSC) Stock Holdings Decreased by 1ST Source Bank

1ST Source Bank reduced its position in Norfolk Southern Co. (NYSE:NSC) by 3.5% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 33,416 shares of the railroad operator’s stock after selling 1,200 shares during the quarter. 1ST Source Bank’s holdings in Norfolk Southern were worth $7,577,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the company. Axiom Financial Strategies LLC increased its stake in Norfolk Southern by 9.2% during the first quarter. Axiom Financial Strategies LLC now owns 852 shares of the railroad operator’s stock valued at $220,000 after purchasing an additional 72 shares during the last quarter. Fairfield Bush & CO. acquired a new position in shares of Norfolk Southern in the 1st quarter valued at about $81,000. United Bank grew its position in shares of Norfolk Southern by 2.0% during the 1st quarter. United Bank now owns 7,581 shares of the railroad operator’s stock valued at $2,162,000 after buying an additional 148 shares during the last quarter. Cetera Investment Advisers raised its stake in Norfolk Southern by 4.6% during the first quarter. Cetera Investment Advisers now owns 8,640 shares of the railroad operator’s stock worth $2,464,000 after acquiring an additional 377 shares during the period. Finally, Sequoia Financial Advisors LLC lifted its holdings in Norfolk Southern by 13.3% in the first quarter. Sequoia Financial Advisors LLC now owns 1,946 shares of the railroad operator’s stock worth $555,000 after acquiring an additional 228 shares during the last quarter. 72.37% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of analysts have recently weighed in on NSC shares. Royal Bank of Canada dropped their price target on Norfolk Southern from $223.00 to $201.00 and set a “sector perform” rating on the stock in a research report on Thursday, October 26th. BMO Capital Markets dropped their target price on Norfolk Southern from $255.00 to $230.00 and set a “market perform” rating on the stock in a research report on Thursday, October 26th. Stifel Nicolaus cut their target price on Norfolk Southern from $260.00 to $253.00 and set a “buy” rating on the stock in a research note on Tuesday, October 3rd. JPMorgan Chase & Co. cut their target price on Norfolk Southern from $279.00 to $245.00 and set an “overweight” rating on the stock in a research note on Wednesday, October 11th. Finally, TD Cowen boosted their target price on shares of Norfolk Southern from $243.00 to $253.00 and gave the company an “outperform” rating in a research note on Friday, July 28th. Nine equities research analysts have rated the stock with a hold rating and thirteen have issued a buy rating to the company. According to data from MarketBeat.com, Norfolk Southern has an average rating of “Moderate Buy” and a consensus target price of $237.15.

Norfolk Southern Trading Up 1.6 %

Shares of Norfolk Southern stock opened at $196.88 on Friday. The company has a quick ratio of 0.97, a current ratio of 1.08 and a debt-to-equity ratio of 1.28. The firm has a market cap of $44.52 billion, a price-to-earnings ratio of 21.59, a price-to-earnings-growth ratio of 2.71 and a beta of 1.29. The business has a fifty day simple moving average of $197.39 and a 200-day simple moving average of $211.15. Norfolk Southern Co. has a fifty-two week low of $183.09 and a fifty-two week high of $261.71.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings results on Wednesday, October 25th. The railroad operator reported $2.65 earnings per share for the quarter, missing analysts’ consensus estimates of $2.74 by ($0.09). Norfolk Southern had a net margin of 16.96% and a return on equity of 22.26%. The business had revenue of $2.97 billion during the quarter, compared to analyst estimates of $2.94 billion. On average, equities analysts forecast that Norfolk Southern Co. will post 11.85 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 30th. Stockholders of record on Friday, November 3rd will be given a dividend of $1.35 per share. The ex-dividend date is Thursday, November 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.74%. Norfolk Southern’s dividend payout ratio (DPR) is presently 59.21%.

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.