Norfolk Southern Corp. (NSC) : Wilbanks Smith Thomas Asset Management reduced its stake in Norfolk Southern Corp. by 4.76% during the most recent quarter end. The investment management company now holds a total of 414,038 shares of Norfolk Southern Corp. which is valued at $36,584,398 after selling 20,708 shares in Norfolk Southern Corp. , the firm said in a disclosure report filed with the SEC on Aug 11, 2016.Norfolk Southern Corp. makes up approximately 3.66% of Wilbanks Smith Thomas Asset Management’s portfolio.
Other Hedge Funds, Including , Baldwin Brothers Incma boosted its stake in NSC in the latest quarter, The investment management firm added 244 additional shares and now holds a total of 1,119 shares of Norfolk Southern Corp. which is valued at $98,875. Norfolk Southern Corp. makes up approx 0.02% of Baldwin Brothers Incma’s portfolio.Weatherly Asset Management L. P. boosted its stake in NSC in the latest quarter, The investment management firm added 204 additional shares and now holds a total of 11,246 shares of Norfolk Southern Corp. which is valued at $999,544. Norfolk Southern Corp. makes up approx 0.32% of Weatherly Asset Management L. P.’s portfolio.Cadence Capital Management reduced its stake in NSC by selling 29,378 shares or 41.79% in the most recent quarter. The Hedge Fund company now holds 40,927 shares of NSC which is valued at $3,615,082. Norfolk Southern Corp. makes up approx 0.26% of Cadence Capital Management’s portfolio.Kornitzer Capital Management Inc Ks reduced its stake in NSC by selling 3,030 shares or 5.55% in the most recent quarter. The Hedge Fund company now holds 51,570 shares of NSC which is valued at $4,629,955. Norfolk Southern Corp. makes up approx 0.08% of Kornitzer Capital Management Inc Ks’s portfolio.
Norfolk Southern Corp. opened for trading at $91.9 and hit $92.19 on the upside on Tuesday, eventually ending the session at $92.03, with a gain of 0.73% or 0.67 points. The heightened volatility saw the trading volume jump to 7,23,360 shares. Company has a market cap of $27,015 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.