Zacks Investment Management adds Norfolk Southern Corp. (NSC) to its portfolio

Norfolk Southern Corp. (NSC) : Zacks Investment Management added new position in Norfolk Southern Corp. during the most recent quarter end. The investment management firm now holds 248,837 shares of Norfolk Southern Corp. which is valued at $21,987,237 , the company said in a statement filed on Aug 15, 2016 with the SEC.Norfolk Southern Corp. makes up approximately 0.64% of Zacks Investment Management’s portfolio.

Other Hedge Funds, Including , Interval Partners Lp sold out all of its stake in NSC during the most recent quarter. The investment firm sold 51,042 shares of NSC which is valued $4,510,071. Simplex Trading sold out all of its stake in NSC during the most recent quarter. The investment firm sold 1,070 shares of NSC which is valued $98,173.

Norfolk Southern Corp. closed down -1.21 points or -1.27% at $93.94 with 2,427,792 shares getting traded on Wednesday. Post opening the session at $94.93, the shares hit an intraday low of $93.76 and an intraday high of $95.965 and the price fluctuated in this range throughout the day.Shares ended Wednesday 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.

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