Investors can expect a company’s stock to rise or fall based on the buying and selling of stock by its insiders. Norfolk Southern Corporation shares valued at $241,840 were sold by Shaw Alan H. on Jun 01. At $241.84 per share, Shaw Alan H. sold 1,000 shares. The insider’s holdings dropped to 34,255 shares worth approximately $7.68 million following the completion of this transaction.
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Also, Squires James A sold 27,871 shares, netting a total of over 6,899,221 in proceeds. Following the sale of shares at $247.54 each, the insider now holds 62,728 shares.
Before that, LEER STEVEN F had sold 700 shares from its account. In a trade valued at $185,856, the Director traded Norfolk Southern Corporation shares for $265.51 each. Upon closing the transaction, the insider’s holdings decreased to 700 shares, worth approximately $0.86 million.
As published in a research note from Citigroup on May 19, 2022, Norfolk Southern Corporation [NSC] has been rated down from a Buy to a Neutral and the price target has been revised to $260 from $345. This represents a 13.79% premium over Wednesday’s closing price. Analysts at Stephens downgraded the stock from ‘”an Overweight”‘ to ‘”an Equal-weight”‘ outlook in a report released in early January. As of October 28, 2021, BofA Securities has increased its “Neutral” rating to a “Buy” for NSC. Earlier on July 12, 2021, Atlantic Equities initiated its rating. Their recommendation was “a Neutral” for NSC stock.
Analyzing NSC’s Price Performance
On Wednesday, Norfolk Southern Corporation [NYSE: NSC] plunged -0.03% to $224.14. The stock’s lowest price that day was $221.23, but it reached a high of $226.155 in the same session. During the last five days, there has been a surge of approximately 0.60%. Over the course of the year, Norfolk Southern Corporation shares have dropped approximately -24.71%. Shares of the company reached a 52-week high of $298.99 on 01/03/22 and a 52-week low of $219.31 on 06/16/22. A 50-day SMA is recorded $245.97, while a 200-day SMA reached $266.13. Nevertheless, trading volume fell to 1.12 million shares from 1.06 million shares the previous day.
Support And Resistance Levels for Norfolk Southern Corporation (NSC)
According to the 24-hour chart, there is a support level at 221.53, which, if violated, would cause prices to drop to 218.92. In the upper region, resistance lies at 226.45. The next price resistance is at 228.77. RSI (Relative Strength Index) is 36.15 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -9.46, which suggests the price will decrease in the coming days. Percent R is at 84.29%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.
Which companies own the most shares of Norfolk Southern Corporation (NSC)?
According to The Vanguard Group, Inc. filings, the company currently owns 17,531,124 shares, which is about 7.36% of the total NSC shares outstanding. The investor’s shares have appreciated by 167,507 from its previous 13-F filing of 17363617.0 shares. With the completion of the buy, SSgA Funds Management, Inc.’s stake is now worth $2,582,294,560. BlackRock Fund Advisors reduced a -0.31% interest valued at $2.45 billion while JPMorgan Investment Management, I sold a -606,165 stake. A total of 652,048 shares of Norfolk Southern Corporation were sold by Capital Research & Management Co during the quarter, and -1,518,024 were sold by Capital Research & Management Co. In its current portfolio, Geode Capital Management LLC holds 3,968,971 shares valued at $951.2 million.
In terms of Norfolk Southern Corporation share price expectations, FactSet research, analysts set an average price target of $295.25 in the next 12 months, up nearly 33.81% from the previous closing price of $224.20. Analysts anticipate Norfolk Southern Corporation stock to reach $350.00 by 2022, with the lowest price target being $197.00. In spite of this, 28 analysts ranked Norfolk Southern Corporation stock as an Overweight at the end of 2022. On July 09, 2021, Evercore ISI assigned a price target of “an Outperform” to the stock and upgraded coverage with a $303.