Norfolk Southern Corporation (NYSE:NSC) Sees Large Growth in Short Interest
by Tristan Rich · The Markets DailyNorfolk Southern Corporation (NYSE:NSC – Get Free Report) was the recipient of a large growth in short interest in the month of 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 trading volume of 979,620 shares, the days-to-cover ratio is presently 8.7 days. Currently, 3.8% of the shares of the stock are sold short. Currently, 3.8% of the shares of the stock are sold short. Based on an average trading volume of 979,620 shares, the days-to-cover ratio is presently 8.7 days.
Insider Activity at Norfolk Southern
In other news, EVP Anil Bhatt sold 900 shares of the business’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 completion of the sale, the executive vice president owned 1,413 shares of the company’s stock, valued at $397,900.80. The trade was a 38.91% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Director Sameh Fahmy purchased 1,650 shares of Norfolk Southern stock in a transaction that occurred on Wednesday, November 5th. The shares were bought at an average price of $282.97 per share, with a total value of $466,900.50. Following the transaction, the director owned 12,000 shares in the company, valued at approximately $3,395,640. The trade was a 15.94% increase in their ownership of the stock. The SEC filing for this purchase provides additional information. Insiders purchased a total of 4,454 shares of company stock worth $1,259,874 in the last quarter. 0.06% of the stock is owned by insiders.
Hedge Funds Weigh In On Norfolk Southern
Several large investors have recently modified their holdings of NSC. Brighton Jones LLC lifted its position in Norfolk Southern by 4.9% in the fourth 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 raised its stake in shares of Norfolk Southern by 40.4% in the 1st quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock valued at $1,527,000 after acquiring an additional 1,855 shares during the period. Sivia Capital Partners LLC acquired a new position in shares of Norfolk Southern in the 2nd quarter worth approximately $327,000. Focus Financial Network Inc. boosted its position in shares of Norfolk Southern by 5.0% during the 2nd 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 in the 2nd quarter valued at approximately $205,000. Institutional investors and hedge funds own 75.10% of the company’s stock.
Norfolk Southern Trading Down 0.2%
Shares of NSC traded down $0.68 during mid-day trading on Monday, reaching $290.09. The stock had a trading volume of 1,466,991 shares, compared to its average volume of 782,343. Norfolk Southern has a 52-week low of $201.63 and a 52-week high of $302.24. The firm has a market cap of $65.09 billion, a price-to-earnings ratio of 22.13, a P/E/G ratio of 5.09 and a beta of 1.33. The business’s fifty day moving average is $289.68 and its 200 day moving average is $284.39. The company has a debt-to-equity ratio of 1.09, a current ratio of 0.86 and a quick ratio of 0.78.
Norfolk Southern (NYSE:NSC – Get Free Report) last issued its 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). Norfolk Southern had a return on equity of 18.93% and a net margin of 24.22%.The firm had revenue of $3.10 billion for the quarter, compared to analysts’ expectations of $3.11 billion. During the same period last year, the firm earned $3.25 earnings per share. Norfolk Southern’s revenue for the quarter was up .0% on a year-over-year basis. On average, sell-side analysts predict that Norfolk Southern will post 13 EPS for the current fiscal year.
Norfolk Southern Announces Dividend
The firm also recently announced a quarterly dividend, which was paid on Thursday, November 20th. Shareholders of record on Friday, November 7th were paid a dividend of $1.35 per share. The ex-dividend date of this dividend was Friday, November 7th. This represents a $5.40 annualized dividend and a yield of 1.9%. Norfolk Southern’s dividend payout ratio (DPR) is 41.19%.
Wall Street Analyst Weigh In
A number of brokerages have commented on NSC. Robert W. Baird set a $293.00 target price on Norfolk Southern in a report on Friday, December 5th. Susquehanna increased their price objective on Norfolk Southern from $288.00 to $304.00 and gave the company a “neutral” rating in a research note on Monday, January 12th. BMO Capital Markets lifted their target price on shares of Norfolk Southern from $285.00 to $305.00 and gave the stock a “market perform” rating in a research note on Friday, October 24th. Royal Bank Of Canada reaffirmed a “sector perform” rating and set a $325.00 target price on shares of Norfolk Southern in a report on Thursday, December 18th. Finally, Barclays raised their price target on shares of Norfolk Southern from $320.00 to $340.00 and gave the stock an “overweight” rating in a research note on Tuesday, December 16th. Eight research analysts have rated the stock with a Buy rating, sixteen have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, Norfolk Southern has a consensus rating of “Hold” and an average target price of $303.52.
View Our Latest Stock Analysis on NSC
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.