Norfolk Southern Corp. (NSC) : Meridian Investment Counsel reduced its stake in Norfolk Southern Corp. by 2.63% during the most recent quarter end. The investment management company now holds a total of 25,890 shares of Norfolk Southern Corp. which is valued at $2,287,640 after selling 700 shares in Norfolk Southern Corp. , the firm said in a disclosure report filed with the SEC on Aug 10, 2016.Norfolk Southern Corp. makes up approximately 1.51% of Meridian Investment Counsel’s portfolio.
Other Hedge Funds, Including , Texas Permanent School Fund reduced its stake in NSC by selling 6,915 shares or 6.72% in the most recent quarter. The Hedge Fund company now holds 95,949 shares of NSC which is valued at $8,478,054. Norfolk Southern Corp. makes up approx 0.11% of Texas Permanent School Fund’s portfolio.Concert Wealth Management boosted its stake in NSC in the latest quarter, The investment management firm added 698 additional shares and now holds a total of 3,253 shares of Norfolk Southern Corp. which is valued at $292,054. Norfolk Southern Corp. makes up approx 0.04% of Concert Wealth Management’s portfolio.Community Bank N.a. reduced its stake in NSC by selling 2,875 shares or 20.42% in the most recent quarter. The Hedge Fund company now holds 11,203 shares of NSC which is valued at $1,026,307. Norfolk Southern Corp. makes up approx 0.24% of Community Bank N.a.’s portfolio.Foundry Partners boosted its stake in NSC in the latest quarter, The investment management firm added 4,570 additional shares and now holds a total of 78,225 shares of Norfolk Southern Corp. which is valued at $7,100,483. Norfolk Southern Corp. makes up approx 0.66% of Foundry Partners’s portfolio.
Norfolk Southern Corp. closed down -0.09 points or -0.10% at $91.58 with 10,78,454 shares getting traded on Friday. Post opening the session at $91.3, the shares hit an intraday low of $91.05 and an intraday high of $91.96 and the price fluctuated in this range throughout the day.Shares ended Friday 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.