Callan Family Office LLC Trims Position in Norfolk Southern Corporation (NYSE:NSC)

Key Points

• Callan Family Office LLC has reduced its stake in Norfolk Southern Corporation by 34.7% during the first quarter, now holding 8,595 shares valued at approximately $2.036 million.
• Norfolk Southern recently reported earnings of $3.29 per share, surpassing analyst estimates, with revenues of $3.11 billion for the quarter.
• The firm has announced a quarterly dividend of $1.35 per share, indicating a 1.9% dividend yield and a payout ratio of 36.49%.

Callan Family Office LLC trimmed its holdings in shares of Norfolk Southern Corporation (NYSE:NSC - Free Report) by 34.7% in the first quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 8,595 shares of the railroad operator's stock after selling 4,576 shares during the quarter. Callan Family Office LLC's holdings in Norfolk Southern were worth $2,036,000 as of its most recent filing with the SEC.

A number of other large investors have also bought and sold shares of the business. Fourth Dimension Wealth LLC bought a new position in shares of Norfolk Southern during the 4th quarter worth approximately $28,000. Putney Financial Group LLC acquired a new position in Norfolk Southern during the fourth quarter worth $30,000. Greenline Partners LLC acquired a new position in Norfolk Southern during the fourth quarter worth $31,000. HWG Holdings LP acquired a new position in Norfolk Southern during the first quarter worth $35,000. Finally, Physician Wealth Advisors Inc. lifted its holdings in Norfolk Southern by 129.2% during the 1st quarter. Physician Wealth Advisors Inc. now owns 149 shares of the railroad operator's stock valued at $35,000 after purchasing an additional 84 shares during the last quarter. 75.10% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on NSC shares. Royal Bank Of Canada downgraded Norfolk Southern from a "moderate buy" rating to a "hold" rating in a report on Tuesday, July 29th. Benchmark downgraded Norfolk Southern from a "buy" rating to a "hold" rating in a report on Wednesday, July 30th. Sanford C. Bernstein boosted their price target on Norfolk Southern from $295.00 to $305.00 and gave the company an "outperform" rating in a research note on Monday, July 21st. TD Cowen raised Norfolk Southern from a "hold" rating to a "buy" rating and boosted their price target for the company from $263.00 to $323.00 in a research note on Monday, July 21st. Finally, UBS Group lifted their target price on Norfolk Southern from $275.00 to $279.00 and gave the company a "buy" rating in a research report on Friday, May 30th. Fourteen investment analysts have rated the stock with a hold rating and seven have given a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $285.15.

Norfolk Southern Trading Down 0.6%

Shares of NSC traded down $1.64 during mid-day trading on Friday, hitting $280.86. 1,939,854 shares of the company's stock traded hands, compared to its average volume of 3,210,820. The company has a quick ratio of 0.71, a current ratio of 0.79 and a debt-to-equity ratio of 1.11. Norfolk Southern Corporation has a 1 year low of $201.63 and a 1 year high of $288.11. The firm has a market capitalization of $63.09 billion, a P/E ratio of 18.98, a PEG ratio of 2.51 and a beta of 1.31. The business's 50-day moving average price is $266.84 and its 200-day moving average price is $246.75.

Norfolk Southern (NYSE:NSC - Get Free Report) last released its quarterly earnings results on Tuesday, July 29th. The railroad operator reported $3.29 earnings per share for the quarter, beating the consensus estimate of $3.24 by $0.05. Norfolk Southern had a return on equity of 19.35% and a net margin of 27.51%. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.10 billion. As a group, sell-side analysts forecast that Norfolk Southern Corporation will post 13 EPS for the current fiscal year.

Norfolk Southern Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, August 20th. Stockholders of record on Friday, August 1st will be issued a dividend of $1.35 per share. This represents a $5.40 dividend on an annualized basis and a dividend yield of 1.9%. The ex-dividend date of this dividend is Friday, August 1st. Norfolk Southern's dividend payout ratio is presently 36.49%.

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.