Norfolk Southern Co. (NYSE:NSC) Shares Sold by Oak Asset Management LLC

Oak Asset Management LLC cut its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 4.6% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 12,767 shares of the railroad operator’s stock after selling 610 shares during the quarter. Norfolk Southern accounts for 1.2% of Oak Asset Management LLC’s investment portfolio, making the stock its 27th largest position. Oak Asset Management LLC’s holdings in Norfolk Southern were worth $3,254,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. AEGON ASSET MANAGEMENT UK Plc acquired a new stake in shares of Norfolk Southern in the 4th quarter valued at $2,933,000. State of Tennessee Treasury Department raised its holdings in shares of Norfolk Southern by 209.3% in the 4th quarter. State of Tennessee Treasury Department now owns 111,914 shares of the railroad operator’s stock valued at $26,454,000 after purchasing an additional 75,729 shares in the last quarter. BKM Wealth Management LLC acquired a new stake in shares of Norfolk Southern in the 4th quarter valued at $1,444,000. Cerity Partners LLC grew its position in shares of Norfolk Southern by 37.1% in the 4th quarter. Cerity Partners LLC now owns 150,998 shares of the railroad operator’s stock valued at $35,692,000 after buying an additional 40,861 shares during the last quarter. Finally, Catalytic Wealth RIA LLC purchased a new position in shares of Norfolk Southern in the 4th quarter valued at $608,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Stock Up 2.3 %

NSC stock opened at $214.69 on Monday. Norfolk Southern Co. has a one year low of $183.09 and a one year high of $263.66. The stock has a market capitalization of $48.50 billion, a PE ratio of 34.57, a price-to-earnings-growth ratio of 2.03 and a beta of 1.32. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.61 and a current ratio of 0.68. The company has a fifty day moving average of $227.10 and a 200-day moving average of $239.01.

Norfolk Southern (NYSE:NSC) last released its earnings results on Wednesday, April 24th. The railroad operator reported $2.49 EPS for the quarter, missing the consensus estimate of $2.58 by ($0.09). Norfolk Southern had a return on equity of 19.61% and a net margin of 11.76%. The firm had revenue of $3 billion during the quarter, compared to analyst estimates of $3.05 billion. During the same quarter last year, the business posted $3.32 EPS. The firm’s revenue was down 4.1% on a year-over-year basis. As a group, analysts expect that Norfolk Southern Co. will post 11.88 EPS for the current year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Monday, May 20th. Investors of record on Friday, May 3rd were paid a $1.35 dividend. This represents a $5.40 annualized dividend and a dividend yield of 2.52%. The ex-dividend date was Thursday, May 2nd. Norfolk Southern’s dividend payout ratio (DPR) is 86.96%.

Analyst Upgrades and Downgrades

A number of research analysts recently commented on NSC shares. Royal Bank of Canada raised shares of Norfolk Southern from a “sector perform” rating to an “outperform” rating and set a $270.00 target price on the stock in a research report on Thursday, May 23rd. Barclays dropped their target price on shares of Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating on the stock in a research report on Monday, May 13th. Stifel Nicolaus increased their target price on shares of Norfolk Southern from $233.00 to $244.00 and gave the company a “hold” rating in a research report on Friday, April 12th. UBS Group dropped their target price on shares of Norfolk Southern from $302.00 to $294.00 and set a “buy” rating on the stock in a research report on Thursday, April 25th. Finally, Jefferies Financial Group started coverage on shares of Norfolk Southern in a research report on Monday, April 8th. They issued a “buy” rating and a $300.00 target price on the stock. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and thirteen have given a buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Moderate Buy” and an average price target of $262.89.

Insider Activity at Norfolk Southern

In related news, Director Sameh Fahmy acquired 2,000 shares of Norfolk Southern stock in a transaction that occurred on Friday, June 14th. The stock was purchased at an average price of $219.25 per share, for a total transaction of $438,500.00. Following the completion of the purchase, the director now directly owns 7,000 shares of the company’s stock, valued at $1,534,750. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, Director Sameh Fahmy acquired 2,000 shares of Norfolk Southern stock in a transaction that occurred on Friday, June 14th. The stock was purchased at an average price of $219.25 per share, for a total transaction of $438,500.00. Following the completion of the purchase, the director now directly owns 7,000 shares of the company’s stock, valued at $1,534,750. The purchase was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CMO Claude E. Elkins sold 8,329 shares of Norfolk Southern stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $228.43, for a total transaction of $1,902,593.47. The disclosure for this sale can be found here. Company insiders own 0.19% of the company’s stock.

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.