Oak Asset Management LLC Lowers Holdings in Norfolk Southern Co. (NYSE:NSC)

Oak Asset Management LLC reduced its holdings in shares of Norfolk Southern Co. (NYSE:NSC) by 1.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 12,002 shares of the railroad operator’s stock after selling 124 shares during the period. Norfolk Southern comprises 1.0% of Oak Asset Management LLC’s investment portfolio, making the stock its 29th largest holding. Oak Asset Management LLC’s holdings in Norfolk Southern were worth $2,817,000 as of its most recent SEC filing.

A number of other hedge funds also recently added to or reduced their stakes in NSC. Mizuho Securities USA LLC raised its holdings in Norfolk Southern by 18,831.2% in the third quarter. Mizuho Securities USA LLC now owns 3,298,000 shares of the railroad operator’s stock valued at $819,553,000 after acquiring an additional 3,280,579 shares in the last quarter. Pathway Financial Advisers LLC increased its position in shares of Norfolk Southern by 25,181.8% in the 3rd quarter. Pathway Financial Advisers LLC now owns 893,459 shares of the railroad operator’s stock valued at $222,025,000 after purchasing an additional 889,925 shares during the last quarter. FMR LLC raised its holdings in shares of Norfolk Southern by 48.4% in the 3rd quarter. FMR LLC now owns 2,702,344 shares of the railroad operator’s stock valued at $671,532,000 after purchasing an additional 881,415 shares in the last quarter. Hotchkis & Wiley Capital Management LLC purchased a new stake in shares of Norfolk Southern during the 3rd quarter worth $207,830,000. Finally, Holocene Advisors LP purchased a new position in Norfolk Southern in the third quarter valued at $122,798,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Norfolk Southern Trading Up 1.5 %

Shares of Norfolk Southern stock opened at $237.48 on Tuesday. The company has a quick ratio of 0.65, a current ratio of 0.73 and a debt-to-equity ratio of 1.21. The firm has a market cap of $53.73 billion, a price-to-earnings ratio of 22.30, a price-to-earnings-growth ratio of 2.34 and a beta of 1.34. Norfolk Southern Co. has a 52-week low of $206.71 and a 52-week high of $277.60. The company’s 50-day simple moving average is $253.07 and its 200-day simple moving average is $246.06.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Tuesday, October 22nd. The railroad operator reported $3.25 earnings per share for the quarter, beating analysts’ consensus estimates of $3.11 by $0.14. The firm had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.08 billion. Norfolk Southern had a return on equity of 20.25% and a net margin of 19.85%. The company’s revenue for the quarter was up 3.3% compared to the same quarter last year. During the same period in the previous year, the business earned $2.65 earnings per share. As a group, equities research analysts anticipate that Norfolk Southern Co. will post 11.82 earnings per share for the current year.

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, November 20th. Investors of record on Friday, November 1st were issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a yield of 2.27%. The ex-dividend date was Friday, November 1st. Norfolk Southern’s dividend payout ratio is currently 50.70%.

Insiders Place Their Bets

In other news, Director Sameh Fahmy bought 350 shares of the stock in a transaction on Thursday, December 12th. The shares were bought at an average price of $249.37 per share, with a total value of $87,279.50. Following the completion of the acquisition, the director now owns 10,350 shares of the company’s stock, valued at approximately $2,580,979.50. This trade represents a 3.50 % increase in their ownership of the stock. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. 0.19% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on NSC shares. Jefferies Financial Group upped their price objective on Norfolk Southern from $275.00 to $280.00 and gave the stock a “buy” rating in a research report on Thursday, October 10th. Stephens reiterated an “equal weight” rating and issued a $263.00 price target on shares of Norfolk Southern in a research note on Wednesday, October 23rd. Citigroup boosted their price objective on shares of Norfolk Southern from $302.00 to $316.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Bank of America increased their target price on shares of Norfolk Southern from $276.00 to $291.00 and gave the company a “buy” rating in a research report on Wednesday, October 23rd. Finally, JPMorgan Chase & Co. boosted their price target on shares of Norfolk Southern from $283.00 to $288.00 and gave the company an “overweight” rating in a research report on Wednesday, October 23rd. One investment analyst has rated the stock with a sell rating, five have issued a hold rating and thirteen have assigned a buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $275.68.

Norfolk Southern Company 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.