Norfolk Southern Corp. (NSC) : Cornerstone Investment Partners reduced its stake in Norfolk Southern Corp. by 25.6% during the most recent quarter end. The investment management company now holds a total of 856,453 shares of Norfolk Southern Corp. which is valued at $81,208,873 after selling 294,648 shares in Norfolk Southern Corp. , the firm said in a disclosure report filed with the SEC on Oct 13, 2016.Norfolk Southern Corp. makes up approximately 3.58% of Cornerstone Investment Partners’s portfolio.
Other Hedge Funds, Including , Fruth Investment Management reduced its stake in NSC by selling 200 shares or 1.58% in the most recent quarter. The Hedge Fund company now holds 12,490 shares of NSC which is valued at $1,182,428. Norfolk Southern Corp. makes up approx 0.60% of Fruth Investment Management’s portfolio.Banced Corp reduced its stake in NSC by selling 138 shares or 2.93% in the most recent quarter. The Hedge Fund company now holds 4,577 shares of NSC which is valued at $433,305. Norfolk Southern Corp. makes up approx 0.86% of Banced Corp’s portfolio.Hudson Valley Investment Advisors Inc Adv reduced its stake in NSC by selling 200 shares or 5.97% in the most recent quarter. The Hedge Fund company now holds 3,150 shares of NSC which is valued at $301,865. Norfolk Southern Corp. makes up approx 0.09% of Hudson Valley Investment Advisors Inc Adv’s portfolio.Independent Portfolio Consultants boosted its stake in NSC in the latest quarter, The investment management firm added 665 additional shares and now holds a total of 2,125 shares of Norfolk Southern Corp. which is valued at $206,210. Norfolk Southern Corp. makes up approx 0.06% of Independent Portfolio Consultants’s portfolio.
Norfolk Southern Corp. closed down -1.16 points or -1.21% at $94.67 with 30,44,202 shares getting traded on Tuesday. Post opening the session at $96.59, the shares hit an intraday low of $94.25 and an intraday high of $97 and the price fluctuated in this range throughout the day.Shares ended Tuesday 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 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.