Oak Hill Wealth Advisors LLC Lowers Holdings in Norfolk Southern Corporation (NYSE:NSC)

Oak Hill Wealth Advisors LLC decreased its stake in Norfolk Southern Corporation (NYSE:NSC) by 8.4% during the first quarter, Holdings Channel reports. The institutional investor owned 4,360 shares of the railroad operator’s stock after selling 401 shares during the quarter. Oak Hill Wealth Advisors LLC’s holdings in Norfolk Southern were worth $1,033,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also recently modified their holdings of NSC. Vision Financial Markets LLC purchased a new stake in shares of Norfolk Southern in the fourth quarter worth about $28,000. Fourth Dimension Wealth LLC purchased a new stake in shares of Norfolk Southern in the fourth quarter worth about $28,000. Atlantic Private Wealth LLC purchased a new stake in shares of Norfolk Southern in the fourth quarter worth about $29,000. Putney Financial Group LLC purchased a new stake in shares of Norfolk Southern in the fourth quarter worth about $30,000. Finally, Greenline Partners LLC purchased a new stake in shares of Norfolk Southern in the fourth quarter worth about $31,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

NSC stock opened at $255.44 on Thursday. The company has a quick ratio of 0.70, a current ratio of 0.78 and a debt-to-equity ratio of 1.15. The stock has a market cap of $57.59 billion, a price-to-earnings ratio of 17.45, a price-to-earnings-growth ratio of 2.02 and a beta of 1.32. Norfolk Southern Corporation has a 52-week low of $201.63 and a 52-week high of $277.60. The business has a fifty day moving average of $238.71 and a two-hundred day moving average of $239.21.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Wednesday, April 23rd. The railroad operator reported $2.69 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $2.72 by ($0.03). The company had revenue of $2.99 billion during the quarter, compared to analyst estimates of $3.01 billion. Norfolk Southern had a net margin of 27.40% and a return on equity of 19.65%. Norfolk Southern’s revenue for the quarter was down .4% on a year-over-year basis. During the same period in the prior year, the business earned $2.49 EPS. As a group, research analysts anticipate that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Tuesday, May 20th. Shareholders of record on Friday, May 2nd were given a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 2.11%. The ex-dividend date was Friday, May 2nd. Norfolk Southern’s dividend payout ratio is currently 36.89%.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on the company. Deutsche Bank Aktiengesellschaft assumed coverage on Norfolk Southern in a research note on Friday, March 7th. They issued a “buy” rating and a $293.00 target price on the stock. Stifel Nicolaus lowered their price target on Norfolk Southern from $265.00 to $247.00 and set a “hold” rating on the stock in a research report on Monday, April 14th. Royal Bank Of Canada lowered their price target on Norfolk Southern from $271.00 to $270.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Jefferies Financial Group reduced their target price on Norfolk Southern from $285.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Finally, Evercore ISI reduced their target price on Norfolk Southern from $284.00 to $269.00 and set an “outperform” rating for the company in a report on Thursday, April 24th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and twelve have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $267.71.

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.