A company insider recently sold 105,420 shares of Norfolk Southern Corporation [NSC]. Should You Sale?

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 $26,229,076 were sold by Squires James A on Aug 02. At $248.81 per share, Squires James A sold 105,420 shares. The insider’s holdings dropped to 42,728 shares worth approximately $10.72 million following the completion of this transaction.

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Also, Shaw Alan H. sold 1,000 shares, netting a total of over 241,840 in proceeds. Following the sale of shares at $241.84 each, the insider now holds 34,255 shares.

Before that, Squires James A had sold 27,871 shares from its account. In a trade valued at $6,899,221, the Director traded Norfolk Southern Corporation shares for $247.54 each. Upon closing the transaction, the insider’s holdings decreased to 27,871 shares, worth approximately $15.74 million.

As published in a research note from Stifel on July 15, 2022, Norfolk Southern Corporation [NSC] has been rated up from a Hold to a Buy and the price target has been revised to $275 from $289. This represents a 8.75% premium over Thursday’s closing price. Analysts at JP Morgan downgraded the stock from ‘”an Overweight”‘ to ‘”a Neutral”‘ outlook in a report released in mid July. As of June 28, 2022, Credit Suisse has initiated its “an Outperform” rating for NSC. Earlier on May 19, 2022, Citigroup downgraded its rating. Their new recommendation was “a Neutral” for NSC stock which previously was a “a Buy”.

Analyzing NSC’s Price Performance

On Thursday, Norfolk Southern Corporation [NYSE: NSC] rose 0.25% to $250.93. The stock’s lowest price that day was $249.74, but it reached a high of $253.10 in the same session. During the last five days, there has been a surge of approximately 2.49%. Over the course of the year, Norfolk Southern Corporation shares have dropped approximately -15.71%. Shares of the company reached a 52-week high of $298.99 on 01/03/22 and a 52-week low of $217.00 on 07/14/22. A 50-day SMA is recorded $234.34, while a 200-day SMA reached $263.55. Nevertheless, trading volume fell to 1.47 million shares from 0.76 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 249.41, which, if violated, would cause prices to drop to 247.90. In the upper region, resistance lies at 252.77. The next price resistance is at 254.62. RSI (Relative Strength Index) is 65.50 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at 5.37, which suggests the price will increase in the coming days. Percent R is at 13.52%, indicating bullish price movement. Stochastics %K at selling indicates that the stock is to be held.

Is Norfolk Southern Corporation subject to short interest?

Stocks of Norfolk Southern Corporation saw a sharp steep in short interest on Jul 14, 2022 dropping by -0.37 million shares to 3.3 million. Data from Yahoo Finance shows that the short interest on Jun 14, 2022 was 3.67 million shares. A decline of -11.21% in short interest reflects a negative sentiment towards the stock. Despite the fact that short shares comprise just 2.72 of the overall float, the days-to-cover ratio (short ratio) decline to 2.72.

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 transaction, SSgA Funds Management, Inc.’s stake is now worth $2,449,009,974. BlackRock Fund Advisors reduced a -0.31% interest valued at $2.32 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 $902.11 million.

In terms of Norfolk Southern Corporation share price expectations, FactSet research, analysts set an average price target of $263.92 in the next 12 months, up nearly 7.27% from the previous closing price of $250.30. Analysts anticipate Norfolk Southern Corporation stock to reach $316.00 by 2022, with the lowest price target being $196.00. In spite of this, 28 analysts ranked Norfolk Southern Corporation stock as an Overweight at the end of 2022. On January 04, 2022, Stephens assigned a price target of “an Equal-weight” to the stock and downgraded coverage with a $310.


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