Norfolk Southern Corporation (NYSE:NSC) Short Interest Up 47.3% in September

Key Points

• Short interest in Norfolk Southern Corporation increased by 47.3% in September, bringing the total to approximately 5.45 million shares shorted as of September 30th.
• The company's dividend of $1.35 per share will be paid on November 20th, representing an annualized yield of 1.9%.
• Norfolk Southern's stock has a consensus rating of "Hold" with a target price averaging $293.80 among analysts.

Norfolk Southern Corporation (NYSE:NSC - Get Free Report) was the recipient of a large increase in short interest in the month of September. As of September 30th, there was short interest totaling 5,450,000 shares, an increase of 47.3% from the September 15th total of 3,700,000 shares. Approximately 2.2% of the shares of the company are sold short. Based on an average trading volume of 2,250,000 shares, the days-to-cover ratio is currently 2.4 days. Based on an average trading volume of 2,250,000 shares, the days-to-cover ratio is currently 2.4 days. Approximately 2.2% of the shares of the company are sold short.

Norfolk Southern Stock Performance

Shares of Norfolk Southern stock opened at $288.58 on Thursday. Norfolk Southern has a fifty-two week low of $201.63 and a fifty-two week high of $302.24. The company has a debt-to-equity ratio of 1.11, a current ratio of 0.79 and a quick ratio of 0.71. The firm has a market capitalization of $64.82 billion, a P/E ratio of 19.50, a P/E/G ratio of 2.60 and a beta of 1.33. The company's 50 day moving average price is $285.76 and its two-hundred day moving average price is $261.16.

Norfolk Southern (NYSE:NSC - Get Free Report) last issued its quarterly earnings results on Tuesday, July 29th. The railroad operator reported $3.29 EPS for the quarter, topping analysts' consensus estimates of $3.24 by $0.05. The company had revenue of $3.11 billion for the quarter, compared to analyst estimates of $3.10 billion. Norfolk Southern had a net margin of 27.51% and a return on equity of 19.35%. Norfolk Southern has set its FY 2025 guidance at EPS. On average, equities analysts forecast that Norfolk Southern will post 13 earnings per share for the current fiscal year.

Norfolk Southern Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, November 20th. Stockholders of record on Friday, November 7th will be issued a dividend of $1.35 per share. The ex-dividend date is Friday, November 7th. This represents a $5.40 annualized dividend and a dividend yield of 1.9%. Norfolk Southern's dividend payout ratio is currently 36.49%.

Hedge Funds Weigh In On Norfolk Southern

Institutional investors have recently made changes to their positions in the stock. BNP Paribas bought a new stake in shares of Norfolk Southern during the second quarter worth about $26,000. WPG Advisers LLC bought a new stake in shares of Norfolk Southern during the first quarter worth about $27,000. True Wealth Design LLC increased its position in shares of Norfolk Southern by 423.8% during the second quarter. True Wealth Design LLC now owns 110 shares of the railroad operator's stock worth $28,000 after acquiring an additional 89 shares in the last quarter. Highline Wealth Partners LLC increased its position in shares of Norfolk Southern by 68.9% during the third quarter. Highline Wealth Partners LLC now owns 103 shares of the railroad operator's stock worth $31,000 after acquiring an additional 42 shares in the last quarter. Finally, NewSquare Capital LLC increased its position in shares of Norfolk Southern by 58.5% during the second quarter. NewSquare Capital LLC now owns 130 shares of the railroad operator's stock worth $33,000 after acquiring an additional 48 shares in the last quarter. Institutional investors and hedge funds own 75.10% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages have recently commented on NSC. Baird R W raised shares of Norfolk Southern to a "hold" rating in a report on Tuesday, July 1st. Evercore ISI raised their target price on shares of Norfolk Southern from $289.00 to $298.00 in a report on Thursday, September 25th. JPMorgan Chase & Co. raised their target price on shares of Norfolk Southern from $288.00 to $303.00 and gave the stock a "neutral" rating in a report on Wednesday, October 8th. Robert W. Baird raised their target price on shares of Norfolk Southern from $255.00 to $300.00 and gave the stock a "neutral" rating in a report on Tuesday, July 22nd. Finally, Jefferies Financial Group reiterated a "hold" rating and set a $300.00 price target on shares of Norfolk Southern in a research report on Friday, July 25th. Eight investment analysts have rated the stock with a Buy rating and fourteen have given a Hold rating to the company's stock. According to data from MarketBeat.com, Norfolk Southern has a consensus rating of "Hold" and a consensus target price of $293.80.

Norfolk Southern Company Profile

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 transports agriculture, forest, and consumer products comprising soybeans, wheat, corn, fertilizers, livestock and poultry feed, food products, food oils, flour, sweeteners, ethanol, lumber and wood products, pulp board and paper products, wood fibers, wood pulp, beverages, and canned goods; chemicals consist of sulfur and related chemicals, petroleum products comprising crude oil, chlorine and bleaching compounds, plastics, rubber, industrial chemicals, chemical wastes, sand, and natural gas liquids; metals and construction materials, such as steel, aluminum products, machinery, scrap metals, cement, aggregates, minerals, clay, transportation equipment, and military-related products; and automotive, including finished motor vehicles and automotive parts, as well as coal.

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