Oak Hill Wealth Advisors LLC Sells 401 Shares of Norfolk Southern Corporation (NYSE:NSC)

Oak Hill Wealth Advisors LLC trimmed its holdings in Norfolk Southern Corporation (NYSE:NSC) by 8.4% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 4,360 shares of the railroad operator’s stock after selling 401 shares during the period. 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.

Several other large investors have also made changes to their positions in the business. Alpine Bank Wealth Management purchased a new position in shares of Norfolk Southern in the first quarter valued at about $1,206,000. Saybrook Capital NC raised its position in Norfolk Southern by 1.1% during the first quarter. Saybrook Capital NC now owns 36,762 shares of the railroad operator’s stock valued at $8,707,000 after purchasing an additional 405 shares during the period. HBK Sorce Advisory LLC raised its position in Norfolk Southern by 10.2% during the first quarter. HBK Sorce Advisory LLC now owns 4,467 shares of the railroad operator’s stock valued at $1,058,000 after purchasing an additional 413 shares during the period. Golden State Wealth Management LLC raised its position in Norfolk Southern by 2,038.9% during the first quarter. Golden State Wealth Management LLC now owns 385 shares of the railroad operator’s stock valued at $91,000 after purchasing an additional 367 shares during the period. Finally, Bessemer Group Inc. raised its position in Norfolk Southern by 13.3% during the first quarter. Bessemer Group Inc. now owns 18,012 shares of the railroad operator’s stock valued at $4,267,000 after purchasing an additional 2,115 shares during the period. 75.10% of the stock is currently owned by hedge funds and other institutional investors.

Norfolk Southern Trading Down 0.8%

NSC opened at $255.44 on Thursday. The firm has a market cap of $57.59 billion, a price-to-earnings ratio of 17.45, a PEG ratio of 2.02 and a beta of 1.32. The company has a current ratio of 0.78, a quick ratio of 0.70 and a debt-to-equity ratio of 1.15. Norfolk Southern Corporation has a 12 month low of $201.63 and a 12 month high of $277.60. The stock has a fifty day moving average price of $238.71 and a 200-day moving average price of $239.21.

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

Norfolk Southern Dividend Announcement

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

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on NSC shares. Evercore ISI decreased their price objective on Norfolk Southern from $284.00 to $269.00 and set an “outperform” rating on the stock in a research report on Thursday, April 24th. Jefferies Financial Group dropped their price objective on Norfolk Southern from $285.00 to $260.00 and set a “buy” rating for the company in a report on Wednesday, April 9th. Bank of America boosted their price objective on Norfolk Southern from $267.00 to $280.00 and gave the company a “buy” rating in a report on Friday, May 16th. The Goldman Sachs Group restated a “neutral” rating and set a $278.00 price objective on shares of Norfolk Southern in a report on Monday, June 2nd. Finally, Barclays dropped their price objective on Norfolk Southern from $305.00 to $290.00 and set an “overweight” rating for the company in a report on Wednesday, April 2nd. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and twelve have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Moderate Buy” and an average 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.