Norfolk Southern Corp. (NSC) : Delta Capital Management reduced its stake in Norfolk Southern Corp. by 12.16% during the most recent quarter end. The investment management company now holds a total of 20,661 shares of Norfolk Southern Corp. which is valued at $1,824,986 after selling 2,861 shares in Norfolk Southern Corp. , the firm said in a disclosure report filed with the SEC on Aug 1, 2016.Norfolk Southern Corp. makes up approximately 1.37% of Delta Capital Management’s portfolio.
Other Hedge Funds, Including , American Century Companies Inc boosted its stake in NSC in the latest quarter, The investment management firm added 687,976 additional shares and now holds a total of 1,672,364 shares of Norfolk Southern Corp. which is valued at $150,746,891. Norfolk Southern Corp. makes up approx 0.17% of American Century Companies Inc’s portfolio.
Norfolk Southern Corp. closed down -0.13 points or -0.15% at $87.61 with 16,84,839 shares getting traded on Thursday. Post opening the session at $87.57, the shares hit an intraday low of $86.88 and an intraday high of $88.31 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.