Norfolk Southern Corporation (NYSE:NSC) Short Interest Update

Norfolk Southern Corporation (NYSE:NSC) was the recipient of a significant increase in short interest in 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. Based on an average daily trading volume, of 979,620 shares, the days-to-cover ratio is currently 8.7 days. Approximately 3.8% of the company’s stock are sold short. Approximately 3.8% of the company’s stock are sold short. Based on an average daily trading volume, of 979,620 shares, the days-to-cover ratio is currently 8.7 days.

Insider Activity at Norfolk Southern

In related news, Director Richard H. Anderson bought 2,600 shares of Norfolk Southern stock in a transaction that occurred on Monday, October 27th. The stock was purchased at an average cost of $281.86 per share, with a total value of $732,836.00. Following the purchase, the director owned 7,000 shares in the company, valued at approximately $1,973,020. This trade represents a 59.09% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Director William Jr. Clyburn bought 204 shares of the stock in a transaction on Friday, December 5th. The shares were purchased at an average price of $294.79 per share, with a total value of $60,137.16. Following the acquisition, the director owned 405 shares in the company, valued at approximately $119,389.95. This represents a 101.49% increase in their position. The SEC filing for this purchase provides additional information. Insiders have purchased 4,454 shares of company stock worth $1,259,874 over the last ninety days. 0.06% of the stock is owned by corporate insiders.

Hedge Funds Weigh In On Norfolk Southern

Several institutional investors and hedge funds have recently modified their holdings of the stock. Brighton Jones LLC grew its stake in Norfolk Southern by 4.9% in the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock valued at $400,000 after buying an additional 79 shares during the last quarter. Intech Investment Management LLC grew its position in shares of Norfolk Southern by 40.4% in the first quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock valued at $1,527,000 after purchasing an additional 1,855 shares during the last quarter. Sivia Capital Partners LLC acquired a new position in shares of Norfolk Southern in the second quarter valued at approximately $327,000. Focus Financial Network Inc. increased its stake in shares of Norfolk Southern by 5.0% during the second quarter. Focus Financial Network Inc. now owns 2,149 shares of the railroad operator’s stock worth $550,000 after purchasing an additional 103 shares during the period. Finally, Perpetual Ltd acquired a new stake in Norfolk Southern during the 2nd quarter worth approximately $205,000. 75.10% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of equities research analysts recently issued reports on NSC shares. Evercore ISI lifted their target price on Norfolk Southern from $298.00 to $299.00 in a research report on Thursday, December 18th. Royal Bank Of Canada reiterated a “sector perform” rating and issued a $325.00 price objective on shares of Norfolk Southern in a report on Thursday, December 18th. Citigroup increased their target price on shares of Norfolk Southern from $307.00 to $317.00 and gave the stock a “neutral” rating in a report on Wednesday, January 7th. UBS Group decreased their target price on shares of Norfolk Southern from $321.00 to $320.00 and set a “buy” rating for the company in a research report on Friday, October 24th. Finally, Benchmark reissued a “hold” rating on shares of Norfolk Southern in a research report on Monday, October 27th. Eight analysts have rated the stock with a Buy rating, sixteen have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average price target of $303.52.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock traded down $10.57 during trading on Tuesday, hitting $280.06. 1,570,074 shares of the stock were exchanged, compared to its average volume of 1,033,241. 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 company has a fifty day moving average price of $289.68 and a 200-day moving average price of $284.39. The stock has a market capitalization of $62.84 billion, a price-to-earnings ratio of 21.36, a price-to-earnings-growth ratio of 5.09 and a beta of 1.33. Norfolk Southern has a 1-year low of $201.63 and a 1-year high of $302.24.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings results on Thursday, October 23rd. The railroad operator reported $3.30 EPS for the quarter, missing analysts’ consensus estimates of $3.31 by ($0.01). The business had revenue of $3.10 billion for the quarter, compared to the consensus estimate of $3.11 billion. Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The company’s revenue for the quarter was up .0% on a year-over-year basis. During the same quarter in the previous year, the business posted $3.25 EPS. As a group, equities analysts predict that Norfolk Southern will post 13 EPS for the current fiscal year.

Norfolk Southern Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, November 20th. Investors of record on Friday, November 7th were paid a $1.35 dividend. This represents a $5.40 dividend on an annualized basis and a yield of 1.9%. The ex-dividend date was Friday, November 7th. Norfolk Southern’s dividend payout ratio is 41.19%.

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.