Alpha Omega Wealth Management buys $2,373,278 stake in Norfolk Southern Corp. (NSC)

Norfolk Southern Corp. (NSC) : Alpha Omega Wealth Management scooped up 301 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 8, 2016. The investment management firm now holds a total of 26,523 shares of Norfolk Southern Corp. which is valued at $2,373,278.Norfolk Southern Corp. makes up approximately 1.93% of Alpha Omega Wealth Management’s portfolio.

Other Hedge Funds, Including , Ropes Wealth Advisors boosted its stake in NSC in the latest quarter, The investment management firm added 1,638 additional shares and now holds a total of 7,155 shares of Norfolk Southern Corp. which is valued at $640,229. Norfolk Southern Corp. makes up approx 0.22% of Ropes Wealth Advisors’s portfolio.W.g. Shaheen Associates Dba Whitney Co boosted its stake in NSC in the latest quarter, The investment management firm added 150 additional shares and now holds a total of 38,686 shares of Norfolk Southern Corp. which is valued at $3,559,499. Norfolk Southern Corp. makes up approx 1.40% of W.g. Shaheen Associates Dba Whitney Co’s portfolio.Palladium Partners reduced its stake in NSC by selling 6,515 shares or 5.08% in the most recent quarter. The Hedge Fund company now holds 121,619 shares of NSC which is valued at $11,158,543. Norfolk Southern Corp. makes up approx 0.98% of Palladium Partners’s portfolio.

Norfolk Southern Corp. opened for trading at $88.86 and hit $89.64 on the upside on Monday, eventually ending the session at $88.92, with a gain of 0.63% or 0.56 points. The heightened volatility saw the trading volume jump to 7,80,377 shares. Company has a market cap of $26,102 M.

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.

Comments (0)

Leave a Reply

Your email address will not be published. Required fields are marked *