Price Action Report: Norfolk Southern Corp.’s Trend Up, Especially After Today’s 52-Week High Milestone

Price Action Report: Norfolk Southern Corp.'s Trend Up, Especially After Today's 52 Week High Milestone

The stock of Norfolk Southern Corp. (NYSE:NSC) hit a new 52-week high and has $137.12 target or 31.00% above today’s $104.67 share price. The 8 months bullish chart indicates low risk for the $30.65 billion company. The 1-year high was reported on Nov, 21 by Barchart.com. If the $137.12 price target is reached, the company will be worth $9.50B more.
The 52-week high event is an important milestone for every stock because it shows very positive momentum and is time when buyers come in. During such notable technical setup, fundamental investors usually stay away and are careful shorting or selling the stock. About 1.19 million shares traded hands. Norfolk Southern Corp. (NYSE:NSC) has risen 24.98% since April 19, 2016 and is uptrending. It has outperformed by 21.12% the S&P500.

Norfolk Southern Corp. (NYSE:NSC) Ratings Coverage

Out of 21 analysts covering Norfolk Southern Corp. (NYSE:NSC), 6 rate it a “Buy”, 3 “Sell”, while 12 “Hold”. This means 29% are positive. Norfolk Southern Corp. has been the topic of 40 analyst reports since July 28, 2015 according to StockzIntelligence Inc. The rating was upgraded by Barclays Capital to “Equal-Weight” on Monday, December 7. The company was maintained on Monday, April 11 by Barclays Capital. RBC Capital Markets maintained Norfolk Southern Corp. (NYSE:NSC) on Tuesday, July 28 with “Sector Perform” rating. The rating was downgraded by Macquarie Research on Monday, November 2 to “Underperform”. The rating was initiated by Scotia Capital with “Sector Outperform” on Tuesday, March 15. Topeka Capital Markets maintained the shares of NSC in a report on Wednesday, November 25 with “Hold” rating. Bank of America upgraded the shares of NSC in a report on Friday, September 11 to “Buy” rating. The firm has “Outperform” rating by CLSA given on Thursday, May 19. Citigroup maintained the stock with “Neutral” rating in Friday, October 2 report. The rating was upgraded by Bank of America to “Buy” on Tuesday, October 11.

According to Zacks Investment Research, “Norfolk Southern Corp., a Virginia-based holding company, owns two major freight railroads, Norfolk Southern Railway Company and Norfolk Western Railway Company, which operates in numerous states, the District of Columbia and the Province of Ontario. (Company Press Release)”

Insitutional Activity: The institutional sentiment decreased to 0.9 in 2016 Q2. Its down 0.06, from 0.96 in 2016Q1. The ratio dived, as 48 funds sold all Norfolk Southern Corp. shares owned while 317 reduced positions. 77 funds bought stakes while 272 increased positions. They now own 196.51 million shares or 2.16% less from 200.85 million shares in 2016Q1.
Atria Invs Lc, a North Carolina-based fund reported 3,535 shares. American Bankshares reported 8,557 shares or 0.27% of all its holdings. Caxton Assocs Lp last reported 367,800 shares in the company. Bnp Paribas Arbitrage Sa has 78,636 shares for 0.03% of their US portfolio. Stevens Cap Mgmt L P owns 28,907 shares or 0.1% of their US portfolio. National Pension Service last reported 0.15% of its portfolio in the stock. Fayez Sarofim & Co has 15,272 shares for 0.01% of their US portfolio. Barnett & Com last reported 0.49% of its portfolio in the stock. The Texas-based Barrow Hanley Mewhinney Strauss Ltd Liability Com has invested 0.35% in Norfolk Southern Corp. (NYSE:NSC). The Montana-based First Interstate Fincl Bank has invested 0.07% in Norfolk Southern Corp. (NYSE:NSC). Fcg Advisors Ltd Liability Corporation holds 0.09% or 3,312 shares in its portfolio. Cubist Systematic Strategies Lc has invested 0.03% of its portfolio in Norfolk Southern Corp. (NYSE:NSC). Interactive has invested 0% of its portfolio in Norfolk Southern Corp. (NYSE:NSC). Buckhead Management Ltd Liability Corporation holds 0.72% or 46,800 shares in its portfolio. Tru Investment Advsrs last reported 1.29% of its portfolio in the stock.

Insider Transactions: Since August 3, 2016, the stock had 0 insider purchases, and 12 sales for $6.75 million net activity. Shares for $280,538 were sold by STEWART MARTA R on Thursday, August 18. On Thursday, October 27 Hurlbut Thomas E sold $197,920 worth of the stock or 2,170 shares. Shaw Alan H. sold $170,640 worth of Norfolk Southern Corp. (NYSE:NSC) on Wednesday, November 16. $941,508 worth of Norfolk Southern Corp. (NYSE:NSC) was sold by HIXON JAMES A on Monday, August 29. Earhart Cynthia C sold 8,947 shares worth $872,971.

NSC Company Profile

Norfolk Southern Corporation, incorporated on August 24, 2009, is a holding firm engaged in the rail transportation business. The Firm operates approximately 20,000 miles of road primarily in the East and Midwest. The Firm is engaged in the rail transportation of raw materials, intermediate products and finished goods primarily in the Southeast, East and Midwest, and through interchange with rail carriers, to and from the rest of the United States. The Firm also transports overseas freight through various Atlantic and Gulf Coast ports. The Firm provides logistics services and offers the intermodal network in the eastern half of the United States. The Company’s system reaches various manufacturing plants, electric generating facilities, mines, distribution centers and other businesses located in its service area.

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