Norfolk Southern Corporation (NYSE:NSC) Sees Large Increase in Short Interest

Norfolk Southern Corporation (NYSE:NSC) was the recipient of a significant increase in short interest in the month of December. As of December 31st, there was short interest totaling 8,537,896 shares, an increase of 21.7% from the December 15th total of 7,012,921 shares. Currently, 3.8% of the shares of the stock are sold short. Based on an average trading volume of 979,620 shares, the short-interest ratio is presently 8.7 days. Based on an average trading volume of 979,620 shares, the short-interest ratio is presently 8.7 days. Currently, 3.8% of the shares of the stock are sold short.

Insider Buying and Selling at Norfolk Southern

In other Norfolk Southern news, Director Richard H. Anderson purchased 2,600 shares of the business’s stock in a transaction on Monday, October 27th. The stock was bought at an average cost of $281.86 per share, with a total value of $732,836.00. Following the acquisition, the director owned 7,000 shares of the company’s stock, valued at $1,973,020. The trade was a 59.09% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, EVP Anil Bhatt sold 900 shares of the firm’s stock in a transaction dated Wednesday, November 19th. The shares were sold at an average price of $281.60, for a total transaction of $253,440.00. Following the transaction, the executive vice president owned 1,413 shares of the company’s stock, valued at approximately $397,900.80. This trade represents a 38.91% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have bought a total of 4,454 shares of company stock valued at $1,259,874 in the last ninety days. 0.06% of the stock is owned by insiders.

Institutional Investors Weigh In On Norfolk Southern

A number of hedge funds and other institutional investors have recently added to or reduced their stakes in the stock. ORG Partners LLC increased its stake in shares of Norfolk Southern by 75.0% in the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock worth $25,000 after acquiring an additional 36 shares during the last quarter. JPL Wealth Management LLC purchased a new position in Norfolk Southern in the third quarter valued at about $25,000. Westside Investment Management Inc. grew its stake in Norfolk Southern by 207.1% in the third quarter. Westside Investment Management Inc. now owns 86 shares of the railroad operator’s stock valued at $26,000 after purchasing an additional 58 shares in the last quarter. BNP Paribas acquired a new position in Norfolk Southern in the 2nd quarter worth about $26,000. Finally, GoalVest Advisory LLC raised its stake in shares of Norfolk Southern by 933.3% during the 4th quarter. GoalVest Advisory LLC now owns 93 shares of the railroad operator’s stock worth $27,000 after purchasing an additional 84 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Down 3.6%

Shares of Norfolk Southern stock opened at $280.06 on Wednesday. Norfolk Southern has a 1 year low of $201.63 and a 1 year high of $302.24. The company has a market cap of $62.84 billion, a P/E ratio of 21.36, a P/E/G ratio of 5.09 and a beta of 1.33. The company has a current ratio of 0.86, a quick ratio of 0.78 and a debt-to-equity ratio of 1.09. The stock has a 50-day moving average price of $289.53 and a 200 day moving average price of $284.51.

Norfolk Southern (NYSE:NSC) last released its earnings results on Thursday, October 23rd. The railroad operator reported $3.30 earnings per share for the quarter, missing the consensus estimate of $3.31 by ($0.01). The business had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.11 billion. Norfolk Southern had a net margin of 24.22% and a return on equity of 18.93%. The company’s revenue was up .0% compared to the same quarter last year. During the same period last year, the firm earned $3.25 EPS. As a group, analysts expect that Norfolk Southern will post 13 EPS for the current fiscal year.

Analyst Ratings Changes

Several research firms have issued reports on NSC. Sanford C. Bernstein dropped their price target on Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating on the stock in a report on Tuesday, November 11th. JPMorgan Chase & Co. cut their target price on Norfolk Southern from $303.00 to $301.00 and set a “neutral” rating on the stock in a research report on Monday, January 12th. Benchmark reaffirmed a “hold” rating on shares of Norfolk Southern in a report on Monday, October 27th. TD Cowen dropped their price target on Norfolk Southern from $320.00 to $314.00 and set a “buy” rating on the stock in a research note on Friday, October 24th. Finally, Royal Bank Of Canada restated a “sector perform” rating and set a $325.00 price objective on shares of Norfolk Southern in a report on Thursday, December 18th. Eight analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus price target of $303.52.

About Norfolk Southern

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.