Bluecrest Capital Management Ltd buys $9,575,688 stake in Norfolk Southern Corp. (NSC)

Norfolk Southern Corp. (NSC) : Bluecrest Capital Management Ltd scooped up 100,297 additional shares in Norfolk Southern Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on May 3, 2016. The investment management firm now holds a total of 106,800 shares of Norfolk Southern Corp. which is valued at $9,575,688.Norfolk Southern Corp. makes up approximately 0.84% of Bluecrest Capital Management Ltd’s portfolio.

Other Hedge Funds, Including , Pillar Pacific Capital Management boosted its stake in NSC in the latest quarter, The investment management firm added 2,720 additional shares and now holds a total of 57,196 shares of Norfolk Southern Corp. which is valued at $5,128,193. Norfolk Southern Corp. makes up approx 0.89% of Pillar Pacific Capital Management’s portfolio.Commerce Bank reduced its stake in NSC by selling 2,046 shares or 3.0% in the most recent quarter. The Hedge Fund company now holds 66,253 shares of NSC which is valued at $5,970,058. Norfolk Southern Corp. makes up approx 0.10% of Commerce Bank’s portfolio.Trust Co Of Vermont reduced its stake in NSC by selling 2,713 shares or 4.6% in the most recent quarter. The Hedge Fund company now holds 56,285 shares of NSC which is valued at $5,071,841. Norfolk Southern Corp. makes up approx 0.71% of Trust Co Of Vermont’s portfolio.High Point Bank Trust Co reduced its stake in NSC by selling 600 shares or 64.86% in the most recent quarter. The Hedge Fund company now holds 325 shares of NSC which is valued at $29,682. Norfolk Southern Corp. makes up approx 0.01% of High Point Bank Trust Co’s portfolio.

Norfolk Southern Corp. opened for trading at $88.72 and hit $90.7 on the upside on Tuesday, eventually ending the session at $90.31, with a gain of 2.30% or 2.03 points. The heightened volatility saw the trading volume jump to 11,97,249 shares. Company has a market cap of $26,708 M.

On the company’s financial health, Norfolk Southern Corp. reported $1.29 EPS for the quarter, beating the analyst consensus estimate by $ 0.32 according to the earnings call on Apr 21, 2016. Analyst had a consensus of $0.97. The company had revenue of $2420.00 million for the quarter, compared to analysts expectations of $2399.88 million. The company’s revenue was down -5.7 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.00 EPS.

Many Wall Street Analysts have commented on Norfolk Southern Corp.. Norfolk Southern Corp. was Resumed by JP Morgan to “Neutral” on Apr 25, 2016. Company shares were Reiterated by Cowen on Apr 22, 2016 to “Outperform”, Firm has raised the Price Target to $ 101 from a previous price target of $89 .Norfolk Southern Corp. was Upgraded by Credit Suisse to ” Outperform” on Apr 22, 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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