Norfolk Southern Corp. (NSC) : Lazard Asset Management scooped up 4,062,019 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 12, 2016. The investment management firm now holds a total of 7,098,296 shares of Norfolk Southern Corp. which is valued at $610.2 Million.Norfolk Southern Corp. makes up approximately 1.51% of Lazard Asset Management’s portfolio.
Other Hedge Funds, Including , Keybank National Associationoh reduced its stake in NSC by selling 34,090 shares or 10.91% in the most recent quarter. The Hedge Fund company now holds 278,508 shares of NSC which is valued at $23.9 Million. Norfolk Southern Corp. makes up approx 0.16% of Keybank National Associationoh’s portfolio.Johnson Financial Group boosted its stake in NSC in the latest quarter, The investment management firm added 55 additional shares and now holds a total of 26,806 shares of Norfolk Southern Corp. which is valued at $2.3 Million. Norfolk Southern Corp. makes up approx 0.46% of Johnson Financial Group’s portfolio.Municipal Employees’ Retirement System Of Michigan boosted its stake in NSC in the latest quarter, The investment management firm added 70 additional shares and now holds a total of 9,160 shares of Norfolk Southern Corp. which is valued at $821,286. Norfolk Southern Corp. makes up approx 0.05% of Municipal Employees’ Retirement System Of Michigan’s portfolio.Sii Investments Incwi boosted its stake in NSC in the latest quarter, The investment management firm added 896 additional shares and now holds a total of 52,732 shares of Norfolk Southern Corp. which is valued at $4.8 Million. Norfolk Southern Corp. makes up approx 0.44% of Sii Investments Incwi’s portfolio.
Norfolk Southern Corp. opened for trading at $84.79 and hit $85.75 on the upside on Friday, eventually ending the session at $85.44, with a gain of 1.32% or 1.11 points. The heightened volatility saw the trading volume jump to 14,18,781 shares. Company has a market cap of $25,268 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 Initiated by Credit Agricole to “Outperform” on May 19, 2016. 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 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.