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

Norfolk Southern Corporation (NYSE:NSC) was the target of a significant growth in short interest in December. As of December 31st, there was short interest totaling 8,537,896 shares, a growth 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. Currently, 3.8% of the company’s shares are sold short. Currently, 3.8% of the company’s shares 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 Transactions at Norfolk Southern

In other Norfolk Southern news, EVP Anil Bhatt sold 900 shares of Norfolk Southern stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $281.60, for a total value of $253,440.00. Following the completion of the transaction, the executive vice president directly owned 1,413 shares of the company’s stock, valued at $397,900.80. The trade was a 38.91% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, Director William Jr. Clyburn purchased 204 shares of Norfolk Southern stock in a transaction dated Friday, December 5th. The shares were acquired at an average cost of $294.79 per share, for a total transaction of $60,137.16. Following the transaction, the director directly owned 405 shares of the company’s stock, valued at approximately $119,389.95. This represents a 101.49% increase in their position. The disclosure for this purchase is available in the SEC filing. Over the last three months, insiders acquired 4,454 shares of company stock valued at $1,259,874. Corporate insiders own 0.06% of the company’s stock.

Institutional Inflows and Outflows

Hedge funds have recently modified their holdings of the stock. ORG Partners LLC boosted its stake in Norfolk Southern by 75.0% in the third quarter. ORG Partners LLC now owns 84 shares of the railroad operator’s stock valued at $25,000 after acquiring an additional 36 shares in the last quarter. JPL Wealth Management LLC purchased a new stake in shares of Norfolk Southern in the 3rd quarter valued at about $25,000. Westside Investment Management Inc. lifted its holdings in shares of Norfolk Southern by 207.1% in the 3rd 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 during the last quarter. BNP Paribas acquired a new stake in shares of Norfolk Southern in the 2nd quarter valued at about $26,000. Finally, GoalVest Advisory LLC grew its stake in 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 buying an additional 84 shares during the last quarter. 75.10% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the stock. Wolfe Research increased their target price on shares of Norfolk Southern from $361.00 to $368.00 and gave the stock an “outperform” rating in a report on Thursday, January 8th. Benchmark reaffirmed a “hold” rating on shares of Norfolk Southern in a research report on Monday, October 27th. Susquehanna lifted their target price on Norfolk Southern from $288.00 to $304.00 and gave the company a “neutral” rating in a report on Monday, January 12th. Morgan Stanley upgraded Norfolk Southern from an “equal weight” rating to a “buy” rating in a report on Thursday, December 18th. Finally, Robert W. Baird set a $293.00 price objective on Norfolk Southern in a research note on Friday, December 5th. Eight analysts have rated the stock with a Buy rating, sixteen have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $303.52.

Norfolk Southern Stock Down 0.2%

Norfolk Southern stock traded down $0.68 during midday trading on Monday, reaching $290.09. The company’s stock had a trading volume of 1,466,991 shares, compared to its average volume of 782,343. The company has a market cap of $65.09 billion, a P/E ratio of 22.13, a P/E/G ratio of 5.09 and a beta of 1.33. The company has a quick ratio of 0.78, a current ratio of 0.86 and a debt-to-equity ratio of 1.09. The business has a 50-day simple moving average of $289.68 and a 200-day simple moving average of $284.39. Norfolk Southern has a fifty-two week low of $201.63 and a fifty-two week high of $302.24.

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

Norfolk Southern Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Friday, November 7th were issued a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $5.40 dividend on an annualized basis and a yield of 1.9%. Norfolk Southern’s dividend payout ratio (DPR) is presently 41.19%.

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.