Oak Hill Wealth Advisors LLC Trims Stock Position in Norfolk Southern Co. (NYSE:NSC)

Oak Hill Wealth Advisors LLC trimmed its stake in shares of Norfolk Southern Co. (NYSE:NSCFree Report) by 30.9% during the 4th quarter, Holdings Channel reports. The fund owned 4,389 shares of the railroad operator’s stock after selling 1,964 shares during the quarter. Oak Hill Wealth Advisors LLC’s holdings in Norfolk Southern were worth $1,037,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of NSC. Mitsubishi UFJ Asset Management Co. Ltd. lifted its stake in shares of Norfolk Southern by 5.6% in the 4th quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 226,955 shares of the railroad operator’s stock valued at $52,874,000 after purchasing an additional 12,072 shares during the period. First United Bank & Trust purchased a new stake in shares of Norfolk Southern during the 4th quarter worth about $117,000. Advisor OS LLC grew its position in shares of Norfolk Southern by 6.9% during the 4th quarter. Advisor OS LLC now owns 1,208 shares of the railroad operator’s stock valued at $286,000 after acquiring an additional 78 shares during the period. Partnership Wealth Management LLC purchased a new position in shares of Norfolk Southern in the 4th quarter valued at about $1,890,000. Finally, Avantax Advisory Services Inc. raised its holdings in Norfolk Southern by 18.5% in the 4th quarter. Avantax Advisory Services Inc. now owns 7,355 shares of the railroad operator’s stock worth $1,738,000 after purchasing an additional 1,149 shares during the period. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Norfolk Southern

In related news, CMO Claude E. Elkins sold 8,329 shares of Norfolk Southern stock in a transaction on Friday, May 10th. The stock was sold at an average price of $228.43, for a total value of $1,902,593.47. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Corporate insiders own 0.19% of the company’s stock.

Analyst Upgrades and Downgrades

NSC has been the topic of several research analyst reports. TD Cowen raised their price objective on Norfolk Southern from $236.00 to $253.00 and gave the company a “market perform” rating in a report on Thursday, March 21st. Citigroup upped their price objective on shares of Norfolk Southern from $253.00 to $286.00 and gave the stock a “buy” rating in a research report on Thursday, February 8th. Jefferies Financial Group initiated coverage on Norfolk Southern in a report on Monday, April 8th. They issued a “buy” rating and a $300.00 price objective on the stock. Benchmark reaffirmed a “buy” rating and set a $277.00 target price on shares of Norfolk Southern in a report on Thursday, April 25th. Finally, JPMorgan Chase & Co. raised their price target on shares of Norfolk Southern from $240.00 to $275.00 and gave the stock an “overweight” rating in a research note on Tuesday, April 9th. One analyst has rated the stock with a sell rating, six have given a hold rating and thirteen have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and a consensus price target of $260.74.

View Our Latest Report on NSC

Norfolk Southern Trading Up 0.6 %

Shares of NSC stock traded up $1.42 on Wednesday, hitting $231.36. The stock had a trading volume of 1,424,278 shares, compared to its average volume of 1,384,402. The company’s 50 day moving average price is $246.20 and its 200-day moving average price is $235.83. Norfolk Southern Co. has a 1 year low of $183.09 and a 1 year high of $263.66. The company has a debt-to-equity ratio of 1.37, a current ratio of 0.68 and a quick ratio of 0.61. The firm has a market capitalization of $52.27 billion, a P/E ratio of 37.21, a P/E/G ratio of 3.24 and a beta of 1.30.

Norfolk Southern (NYSE:NSCGet Free Report) last issued its quarterly earnings results on Wednesday, April 24th. The railroad operator reported $2.49 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.58 by ($0.09). The business had revenue of $3 billion for the quarter, compared to analysts’ expectations of $3.05 billion. Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The firm’s revenue for the quarter was down 4.1% on a year-over-year basis. During the same quarter last year, the company earned $3.32 earnings per share. Analysts anticipate that Norfolk Southern Co. will post 11.62 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Monday, May 20th. Shareholders of record on Friday, May 3rd will be paid a $1.35 dividend. The ex-dividend date is Thursday, May 2nd. This represents a $5.40 annualized dividend and a dividend yield of 2.33%. Norfolk Southern’s dividend payout ratio (DPR) is 86.96%.

About Norfolk Southern

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for Norfolk Southern (NYSE:NSC)

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