Absolute Return Capital buys $18,599,868 stake in Norfolk Southern Corp. (NSC)

Norfolk Southern Corp. (NSC) : Absolute Return Capital scooped up 122,842 additional shares in Norfolk Southern Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Aug 15, 2016. The investment management firm now holds a total of 210,501 shares of Norfolk Southern Corp. which is valued at $18,599,868.Norfolk Southern Corp. makes up approximately 1.07% of Absolute Return Capital’s portfolio.

Other Hedge Funds, Including , J. Goldman Co Lp sold out all of its stake in NSC during the most recent quarter. The investment firm sold 243,800 shares of NSC which is valued $21,542,168.Rmb Capital Management reduced its stake in NSC by selling 645 shares or 12.59% in the most recent quarter. The Hedge Fund company now holds 4,477 shares of NSC which is valued at $395,453. Norfolk Southern Corp. makes up approx 0.03% of Rmb Capital Management’s portfolio.Agf Investments reduced its stake in NSC by selling 51 shares or 40.8% in the most recent quarter. The Hedge Fund company now holds 74 shares of NSC which is valued at $6,536.Proficio Capital Partners boosted its stake in NSC in the latest quarter, The investment management firm added 54 additional shares and now holds a total of 69 shares of Norfolk Southern Corp. which is valued at $6,195.Rothschild Investment Corp Il reduced its stake in NSC by selling 5,932 shares or 34.81% in the most recent quarter. The Hedge Fund company now holds 11,108 shares of NSC which is valued at $1,022,047. Norfolk Southern Corp. makes up approx 0.13% of Rothschild Investment Corp Il’s portfolio.

Norfolk Southern Corp. closed down -0.1 points or -0.11% at $93.8 with 11,42,560 shares getting traded on Thursday. Post opening the session at $94.11, the shares hit an intraday low of $92.88 and an intraday high of $94.25 and the price fluctuated in this range throughout the day.Shares ended Thursday session in Red.

On the company’s financial health, Norfolk Southern Corp. reported $1.36 EPS for the quarter, beating the analyst consensus estimate by $ 0.01 according to the earnings call on Jul 27, 2016. Analyst had a consensus of $1.35. The company had revenue of $2454.00 million for the quarter, compared to analysts expectations of $2475.41 million. The company’s revenue was down -9.5 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.41 EPS.

Many Wall Street Analysts have commented on Norfolk Southern Corp.. Norfolk Southern Corp. was Resumed by Morgan Stanley to “Underweight” on Jun 3, 2016. Norfolk Southern Corp. was Initiated by Credit Agricole to “Outperform” on May 19, 2016.

Norfolk Southern Corporation is a holding company. The Company owns a freight railroad Norfolk Southern Railway Company. The Company 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 Company also transports overseas freight through various Atlantic and Gulf Coast ports. It provides logistics services and offers an intermodal network in the eastern half of the United States. The Company’s system reaches various individual industries electric generating facilities mines distribution centers transload facilities and other businesses located in its service area. The Company’s general merchandise market group is composed of five commodity groupings: chemicals; metals and construction; agriculture consumer products and Government; automotive and paper clay and forest products.

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