Is Norfolk Southern Corporation (NSC)’s Fuel Running High? The Stock Formed Double Top

June 20, 2018 - By Louis Casey

Norfolk Southern Corporation (NYSE:NSC) Logo

Investors sentiment decreased to 0.75 in 2018 Q1. Its down 0.08, from 0.83 in 2017Q4. It worsened, as 53 investors sold Norfolk Southern Corporation shares while 375 reduced holdings. 94 funds opened positions while 228 raised stakes. 198.67 million shares or 0.72% more from 197.25 million shares in 2017Q4 were reported.
Usca Ria Ltd Liability Corporation holds 3,220 shares or 0.05% of its portfolio. Tirschwell And Loewy Incorporated, New York-based fund reported 2,000 shares. Marble Harbor Invest Counsel Limited reported 7,486 shares. Parallax Volatility Advisers Limited Partnership owns 668 shares for 0% of their portfolio. 3,848 are held by Bailard. Folger Nolan Fleming Douglas Capital Inc accumulated 1,825 shares or 0.04% of the stock. Nbt Bank N A owns 14,202 shares for 0.32% of their portfolio. Port Solutions Ltd reported 42 shares. 22,400 were reported by Macquarie Gp Ltd. Bessemer Gru reported 0.01% stake. Synovus Corp invested in 0.03% or 14,282 shares. Country Tru Comml Bank has 0% invested in Norfolk Southern Corporation (NYSE:NSC). Suntrust Banks Incorporated has invested 0.22% of its portfolio in Norfolk Southern Corporation (NYSE:NSC). Pinnacle Associates Ltd invested in 0.02% or 8,013 shares. Cornerstone Advsrs stated it has 0.13% of its portfolio in Norfolk Southern Corporation (NYSE:NSC).

Since February 1, 2018, it had 0 insider purchases, and 8 selling transactions for $4.08 million activity. 10,000 shares valued at $1.50 million were sold by Squires James A on Thursday, February 1. On Thursday, May 10 the insider Earhart Cynthia C sold $994,340. Wheeler Michael Joseph sold 2,000 shares worth $302,661.

The chart of Norfolk Southern Corporation (NSC) shows a double top with $156.56 target or 3.00 % above today’s $152.00 share price. The 7 months chart pattern indicates low risk for the $42.95B company. It was reported on Jun, 20 by Finviz.com. If the $156.56 price target is reached, the company will be worth $1.29B more. Double tops are rare but powerful chart patterns.

The stock increased 0.72% or $1.09 during the last trading session, reaching $152. About 449,501 shares traded. Norfolk Southern Corporation (NYSE:NSC) has risen 27.76% since June 20, 2017 and is uptrending. It has outperformed by 15.19% the S&P500.

Analysts await Norfolk Southern Corporation (NYSE:NSC) to report earnings on July, 25. They expect $2.24 EPS, up 30.99 % or $0.53 from last year’s $1.71 per share. NSC’s profit will be $632.90M for 16.96 P/E if the $2.24 EPS becomes a reality. After $1.93 actual EPS reported by Norfolk Southern Corporation for the previous quarter, Wall Street now forecasts 16.06 % EPS growth.

Norfolk Southern Corporation (NYSE:NSC) Ratings Coverage

Among 15 analysts covering Norfolk Southern (NYSE:NSC), 5 have Buy rating, 2 Sell and 8 Hold. Therefore 33% are positive. Norfolk Southern had 26 analyst reports since January 8, 2018 according to SRatingsIntel. The rating was maintained by RBC Capital Markets with “Hold” on Wednesday, April 25. UBS maintained Norfolk Southern Corporation (NYSE:NSC) rating on Thursday, April 26. UBS has “Buy” rating and $192 target. The stock of Norfolk Southern Corporation (NYSE:NSC) earned “Hold” rating by Robert W. Baird on Tuesday, April 10. The rating was maintained by Stifel Nicolaus on Thursday, May 24 with “Hold”. Susquehanna maintained Norfolk Southern Corporation (NYSE:NSC) rating on Monday, April 2. Susquehanna has “Buy” rating and $16600 target. The firm has “Outperform” rating given on Thursday, January 25 by Credit Suisse. Robert W. Baird maintained Norfolk Southern Corporation (NYSE:NSC) on Thursday, January 25 with “Hold” rating. The rating was maintained by JP Morgan with “Neutral” on Thursday, January 25. The firm has “Hold” rating given on Thursday, April 26 by Bernstein. Morgan Stanley maintained it with “Underweight” rating and $100 target in Thursday, January 25 report.

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 has market cap of $42.95 billion. It also transports overseas freight through various Atlantic and Gulf Coast ports. It has a 7.95 P/E ratio. In addition, the firm is involved in the operation of scheduled passenger trains; leasing or sale of rail property and equipment; development of commercial real estate; telecommunications; and the acquisition, leasing, and management of coal, oil, gas, and minerals, as well as the transport of automotive and industrial products.

Norfolk Southern Corporation (NYSE:NSC) Institutional Positions Chart

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