Ivory Investment Management buys $65,822,280 stake in Norfolk Southern Corp. (NSC)

Norfolk Southern Corp. (NSC) : Ivory Investment Management scooped up 537,378 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 744,933 shares of Norfolk Southern Corp. which is valued at $65,822,280.Norfolk Southern Corp. makes up approximately 2.13% of Ivory Investment Management’s portfolio.

Other Hedge Funds, Including , Crawford Investment Counsel Inc reduced its stake in NSC by selling 2,962 shares or 2.27% in the most recent quarter. The Hedge Fund company now holds 127,594 shares of NSC which is valued at $11,274,206. Norfolk Southern Corp. makes up approx 0.43% of Crawford Investment Counsel Inc’s portfolio.Old Second National Bank Of Aurora reduced its stake in NSC by selling 93 shares or 0.3% in the most recent quarter. The Hedge Fund company now holds 30,698 shares of NSC which is valued at $2,824,523. Norfolk Southern Corp. makes up approx 1.27% of Old Second National Bank Of Aurora’s portfolio.Murphy Capital Management Inc reduced its stake in NSC by selling 460 shares or 3.06% in the most recent quarter. The Hedge Fund company now holds 14,590 shares of NSC which is valued at $1,338,633. Norfolk Southern Corp. makes up approx 0.20% of Murphy Capital Management Inc’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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