A company insider recently sold 21,272 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 $5,227,765 were sold by Squires James A on Dec 08. At $245.76 per share, Squires James A sold 21,272 shares. The insider’s holdings dropped to 1,001 shares worth approximately $0.22 million following the completion of this transaction.

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Also, Shaw Alan H. sold 2,000 shares, netting a total of over 516,700 in proceeds. Following the sale of shares at $258.35 each, the insider now holds 30,158 shares.

Before that, Shaw Alan H. had sold 2,000 shares from its account. In a trade valued at $482,560, the President & CEO traded Norfolk Southern Corporation shares for $241.28 each. Upon closing the transaction, the insider’s holdings decreased to 2,000 shares, worth approximately $7.22 million.

As published in a research note from Wolfe Research on February 21, 2023, Norfolk Southern Corporation [NSC] has been rated up from a Peer perform to an Outperform and the price target has been revised to $255. This represents a 12.21% premium over Thursday’s closing price. Analysts at Deutsche Bank upgraded the stock from ‘”a Hold”‘ to ‘”a Buy”‘ outlook in a report released in late January. As of January 04, 2023, Wells Fargo has decreased its “an Overweight” rating to a “an Equal weight” for NSC. Earlier on December 20, 2022, Evercore ISI downgraded its rating. Their new recommendation was “an In-line” for NSC stock which previously was a “an Outperform”.

Analyzing NSC Stock Performance

On Thursday, Norfolk Southern Corporation [NYSE: NSC] rose 0.84% to $223.86. The stock’s lowest price that day was $220.255, but it reached a high of $224.625 in the same session. During the last five days, there has been a drop of approximately -6.06%. Over the course of the year, Norfolk Southern Corporation shares have dropped approximately -9.16%. Shares of the company reached a 52-week high of $260.20 on 01/18/23 and a 52-week low of $220.03 on 02/22/23. A 50-day SMA is recorded $246.44, while a 200-day SMA reached $239.16. Nevertheless, trading volume fell to 1.97 million shares from 2.38 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 221.20, which, if violated, would cause prices to drop to 218.54. In the upper region, resistance lies at 225.57. The next price resistance is at 227.28. RSI (Relative Strength Index) is 33.07 on the 14-day chart, showing neutral technical sentiment. Moving Average Convergence Divergence (MACD) is at -13.41, which suggests the price will decrease in the coming days. Percent R is at 89.15%, indicating bearish price movement. Stochastics %K at buying indicates that the stock is to be held.

Is Norfolk Southern Corporation subject to short interest?

Stocks of Norfolk Southern Corporation saw a sharp rise in short interest on Jan 12, 2023 jumping by 50000.0 shares to 2.58 million. Data from Yahoo Finance shows that the short interest on Dec 14, 2022 was 2.53 million shares. A jump of 1.94% in short interest reflects a positive sentiment towards the stock. Despite the fact that short shares comprise just 2.5 of the overall float, the days-to-cover ratio (short ratio) jumped to 2.5.

Which companies own the most shares of Norfolk Southern Corporation (NSC)?

According to The Vanguard Group, Inc. filings, the company currently owns 17,504,705 shares, which is about 7.68% of the total NSC shares outstanding. The investor’s shares have plunged by -73,590 from its previous 13-F filing of 17578295.0 shares. With the completion of the sale transaction, BlackRock Fund Advisors’s stake is now worth $2,560,700,848. SSgA Funds Management, Inc. reduced a -0.42% interest valued at $2.5 billion while JPMorgan Investment Management, I sold a -1,744,352 stake. A total of 266,883 shares of Norfolk Southern Corporation were sold by Capital Research & Management Co during the quarter, and -502,673 were sold by Lazard Asset Management LLC. In its current portfolio, Capital Research & Management Co holds 6,135,920 shares valued at $1.51 billion.

In terms of Norfolk Southern Corporation share price expectations, FactSet research, analysts set an average price target of $250.04 in the next 12 months, up nearly 13.52% from the previous closing price of $221.99. Analysts anticipate Norfolk Southern Corporation stock to reach $289.00 by 2023, with the lowest price target being $177.00. In spite of this, 30 analysts ranked Norfolk Southern Corporation stock as an Overweight at the end of 2023.


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