Short Interest in Norfolk Southern Co. (NYSE:NSC) Rises By 20.0%

Norfolk Southern Co. (NYSE:NSC) was the recipient of a significant increase in short interest in the month of July. As of July 15th, there was short interest totalling 2,760,000 shares, an increase of 20.0% from the June 30th total of 2,300,000 shares. Based on an average daily trading volume, of 1,330,000 shares, the days-to-cover ratio is currently 2.1 days. Approximately 1.2% of the shares of the company are short sold.

Norfolk Southern Stock Up 10.9 %

Shares of NYSE NSC traded up $24.32 during mid-day trading on Friday, hitting $247.22. 2,993,456 shares of the stock traded hands, compared to its average volume of 1,060,314. The stock has a fifty day moving average price of $222.63 and a 200-day moving average price of $237.61. The company has a debt-to-equity ratio of 1.37, a quick ratio of 0.61 and a current ratio of 0.68. The company has a market cap of $55.85 billion, a price-to-earnings ratio of 39.81, a PEG ratio of 2.44 and a beta of 1.32. Norfolk Southern has a 52 week low of $183.09 and a 52 week high of $263.66.

Norfolk Southern (NYSE:NSC) last posted its quarterly earnings data on Thursday, July 25th. The railroad operator reported $3.06 EPS for the quarter, topping the consensus estimate of $2.86 by $0.20. Norfolk Southern had a net margin of 14.85% and a return on equity of 19.77%. The business had revenue of $3.04 billion for the quarter, compared to analyst estimates of $3.04 billion. During the same quarter in the previous year, the firm posted $2.95 earnings per share. Norfolk Southern’s quarterly revenue was up 2.1% on a year-over-year basis. Research analysts anticipate that Norfolk Southern will post 11.6 EPS for the current year.

Norfolk Southern Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, August 20th. Stockholders of record on Friday, August 2nd will be paid a $1.35 dividend. The ex-dividend date is Friday, August 2nd. This represents a $5.40 dividend on an annualized basis and a dividend yield of 2.18%. Norfolk Southern’s dividend payout ratio is currently 86.96%.

Insider Buying and Selling at Norfolk Southern

In related news, CMO Claude E. Elkins sold 8,329 shares of the business’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $228.43, for a total value of $1,902,593.47. The sale was disclosed in a legal filing with the SEC, which is available through this link. In other Norfolk Southern news, CMO Claude E. Elkins sold 8,329 shares of the firm’s stock in a transaction dated Friday, May 10th. The stock was sold at an average price of $228.43, for a total value of $1,902,593.47. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Director Claude Mongeau acquired 5,650 shares of the business’s stock in a transaction dated Wednesday, May 29th. The stock was purchased at an average price of $221.00 per share, with a total value of $1,248,650.00. Following the completion of the transaction, the director now directly owns 20,000 shares of the company’s stock, valued at approximately $4,420,000. The disclosure for this purchase can be found here. Corporate insiders own 0.19% of the company’s stock.

Hedge Funds Weigh In On Norfolk Southern

Large investors have recently modified their holdings of the stock. Cedar Wealth Management LLC purchased a new position in shares of Norfolk Southern in the first quarter worth $27,000. 1620 Investment Advisors Inc. bought a new position in shares of Norfolk Southern during the 2nd quarter valued at $27,000. Financial Connections Group Inc. bought a new position in Norfolk Southern in the second quarter valued at about $31,000. Turtle Creek Wealth Advisors LLC purchased a new position in Norfolk Southern in the fourth quarter worth about $32,000. Finally, Rise Advisors LLC purchased a new position in shares of Norfolk Southern in the first quarter worth approximately $34,000. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Analyst Upgrades and Downgrades

Several research firms have weighed in on NSC. TD Cowen raised their price target on Norfolk Southern from $251.00 to $253.00 and gave the company a “hold” rating in a report on Friday. UBS Group dropped their target price on shares of Norfolk Southern from $302.00 to $294.00 and set a “buy” rating for the company in a research report on Thursday, April 25th. Loop Capital increased their price target on shares of Norfolk Southern from $261.00 to $270.00 and gave the stock a “buy” rating in a report on Thursday, April 18th. Barclays cut their target price on shares of Norfolk Southern from $305.00 to $275.00 and set an “overweight” rating for the company in a research report on Monday, May 13th. Finally, Susquehanna raised their price target on Norfolk Southern from $245.00 to $255.00 and gave the company a “neutral” rating in a research report on Friday. One analyst has rated the stock with a sell rating, five have issued a hold rating and twelve have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $264.65.

Norfolk Southern Company 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.