American Money Management Lowers stake in Norfolk Southern Corp. (NSC)

Norfolk Southern Corp. (NSC) : American Money Management reduced its stake in Norfolk Southern Corp. by 0.5% during the most recent quarter end. The investment management company now holds a total of 28,319 shares of Norfolk Southern Corp. which is valued at $2,944,893 after selling 142 shares in Norfolk Southern Corp. , the firm said in a disclosure report filed with the SEC on Nov 14, 2016.Norfolk Southern Corp. makes up approximately 2.37% of American Money Management’s portfolio.

Other Hedge Funds, Including , Mariner Wealth Advisors boosted its stake in NSC in the latest quarter, The investment management firm added 760 additional shares and now holds a total of 3,417 shares of Norfolk Southern Corp. which is valued at $355,334. Norfolk Southern Corp. makes up approx 0.02% of Mariner Wealth Advisors’s portfolio.Trust Investment Advisors reduced its stake in NSC by selling 430 shares or 3.33% in the most recent quarter. The Hedge Fund company now holds 12,470 shares of NSC which is valued at $1,142,252. Norfolk Southern Corp. makes up approx 1.33% of Trust Investment Advisors’s portfolio.Commonwealth Equity Services Inc boosted its stake in NSC in the latest quarter, The investment management firm added 2,157 additional shares and now holds a total of 81,412 shares of Norfolk Southern Corp. which is valued at $7,593,297. Norfolk Southern Corp. makes up approx 0.06% of Commonwealth Equity Services Inc’s portfolio.Baxter Bros Inc reduced its stake in NSC by selling 2,647 shares or 9.5% in the most recent quarter. The Hedge Fund company now holds 25,228 shares of NSC which is valued at $2,412,806. Norfolk Southern Corp. makes up approx 0.74% of Baxter Bros Inc’s portfolio.

Norfolk Southern Corp. opened for trading at $102.93 and hit $103.98 on the upside on Monday, eventually ending the session at $103.45, with a gain of 0.30% or 0.31 points. The heightened volatility saw the trading volume jump to 18,70,167 shares. Company has a market cap of $30,201 M.

On the company’s financial health, Norfolk Southern Corp. reported $1.55 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Oct 26, 2016. Analyst had a consensus of $1.44. The company had revenue of $2524.00 million for the quarter, compared to analysts expectations of $2517.86 million. The company’s revenue was down -7.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.49 EPS.

Many Wall Street Analysts have commented on Norfolk Southern Corp.. Norfolk Southern Corp. was Upgraded by Argus to ” Buy” on Nov 2, 2016. Norfolk Southern Corp. was Upgraded by BofA/Merrill to ” Buy” on Oct 11, 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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