Callan Family Office LLC Acquires Shares of 25,369 Norfolk Southern Corporation $NSC

Callan Family Office LLC bought a new position in shares of Norfolk Southern Corporation (NYSE:NSC) during the 2nd quarter, according to the company in its most recent disclosure with the SEC. The fund bought 25,369 shares of the railroad operator’s stock, valued at approximately $7,981,000.

A number of other large investors have also modified their holdings of the business. Confluence Wealth Services Inc. lifted its stake in shares of Norfolk Southern by 1.1% in the fourth quarter. Confluence Wealth Services Inc. now owns 3,090 shares of the railroad operator’s stock worth $892,000 after buying an additional 35 shares in the last quarter. Exencial Wealth Advisors LLC boosted its position in Norfolk Southern by 1.1% during the fourth quarter. Exencial Wealth Advisors LLC now owns 3,216 shares of the railroad operator’s stock worth $929,000 after acquiring an additional 35 shares during the last quarter. Sovereign Financial Group Inc. grew its stake in Norfolk Southern by 3.3% during the 1st quarter. Sovereign Financial Group Inc. now owns 1,108 shares of the railroad operator’s stock valued at $318,000 after acquiring an additional 35 shares in the last quarter. Bar Harbor Wealth Management grew its stake in Norfolk Southern by 0.6% during the 1st quarter. Bar Harbor Wealth Management now owns 6,290 shares of the railroad operator’s stock valued at $1,805,000 after acquiring an additional 36 shares in the last quarter. Finally, Apollon Financial LLC raised its holdings in Norfolk Southern by 4.3% in the 1st quarter. Apollon Financial LLC now owns 881 shares of the railroad operator’s stock valued at $253,000 after acquiring an additional 36 shares during the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Price Performance

Shares of NSC stock opened at $350.77 on Friday. The company has a debt-to-equity ratio of 0.98, a current ratio of 0.83 and a quick ratio of 0.73. The firm’s 50-day moving average is $328.23 and its two-hundred day moving average is $313.31. Norfolk Southern Corporation has a 12 month low of $268.23 and a 12 month high of $358.60. The company has a market capitalization of $78.79 billion, a PE ratio of 29.93, a price-to-earnings-growth ratio of 6.14 and a beta of 1.27.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Thursday, July 23rd. The railroad operator reported $3.52 earnings per share for the quarter, beating the consensus estimate of $3.32 by $0.20. Norfolk Southern had a net margin of 21.02% and a return on equity of 18.21%. The business had revenue of $3.46 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same quarter in the prior year, the company posted $3.29 EPS. The business’s revenue for the quarter was up 12.5% on a year-over-year basis. Analysts predict that Norfolk Southern Corporation will post 12.66 earnings per share for the current year.

Norfolk Southern Announces Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 20th. Investors of record on Friday, August 7th were issued a $1.35 dividend. The ex-dividend date was Friday, August 7th. This represents a $5.40 dividend on an annualized basis and a yield of 1.5%. Norfolk Southern’s dividend payout ratio is currently 46.08%.

Analyst Ratings Changes

A number of research firms have weighed in on NSC. JPMorgan Chase & Co. raised their target price on shares of Norfolk Southern from $316.00 to $338.00 and gave the stock a “neutral” rating in a research note on Friday, July 24th. Barclays upped their price target on Norfolk Southern from $360.00 to $400.00 and gave the company an “overweight” rating in a research report on Friday, July 24th. TD Cowen increased their price target on Norfolk Southern from $337.00 to $376.00 and gave the company a “buy” rating in a report on Friday, July 24th. Rothschild & Co Redburn lifted their price objective on Norfolk Southern from $308.00 to $315.00 and gave the stock a “neutral” rating in a research report on Wednesday, April 29th. Finally, Wells Fargo & Company boosted their price objective on Norfolk Southern from $365.00 to $385.00 and gave the stock an “overweight” rating in a research note on Friday, July 24th. Seven equities research analysts have rated the stock with a Buy rating and fifteen have given a Hold rating to the company. Based on data from MarketBeat, the company has an average rating of “Hold” and an average price target of $348.00.

Norfolk Southern Company Profile

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.