London Co Of Virginia buys $358,228,704 stake in Norfolk Southern Corp. (NSC)

Norfolk Southern Corp. (NSC) : London Co Of Virginia scooped up 229,145 additional shares in Norfolk Southern Corp. during the most recent quarter end , the firm said in a disclosure report filed with the SEC on Nov 14, 2016. The investment management firm now holds a total of 3,444,838 shares of Norfolk Southern Corp. which is valued at $358,228,704.Norfolk Southern Corp. makes up approximately 2.64% of London Co Of Virginia’s portfolio.

Other Hedge Funds, Including , Fort Washington Investment Advisors Inc Oh boosted its stake in NSC in the latest quarter, The investment management firm added 1,745 additional shares and now holds a total of 19,399 shares of Norfolk Southern Corp. which is valued at $2,017,302. Norfolk Southern Corp. makes up approx 0.04% of Fort Washington Investment Advisors Inc Oh’s portfolio.Commerce Bank reduced its stake in NSC by selling 9,084 shares or 13.63% in the most recent quarter. The Hedge Fund company now holds 57,552 shares of NSC which is valued at $5,280,972. Norfolk Southern Corp. makes up approx 0.09% of Commerce Bank’s portfolio.Ibm Retirement Fund reduced its stake in NSC by selling 10,879 shares or 28.05% in the most recent quarter. The Hedge Fund company now holds 27,909 shares of NSC which is valued at $2,512,647. Norfolk Southern Corp. makes up approx 0.13% of Ibm Retirement Fund’s portfolio.

Norfolk Southern Corp. opened for trading at $102.93 and hit $103.98 on the upside on Monday, eventually ending the session at $103.45, with a gain of 0.30% or 0.31 points. The heightened volatility saw the trading volume jump to 18,70,167 shares. Company has a market cap of $30,201 M.

On the company’s financial health, Norfolk Southern Corp. reported $1.55 EPS for the quarter, beating the analyst consensus estimate by $ 0.11 according to the earnings call on Oct 26, 2016. Analyst had a consensus of $1.44. The company had revenue of $2524.00 million for the quarter, compared to analysts expectations of $2517.86 million. The company’s revenue was down -7.0 % compared to the same quarter last year.During the same quarter in the previous year, the company posted $1.49 EPS.

Many Wall Street Analysts have commented on Norfolk Southern Corp.. Norfolk Southern Corp. was Upgraded by Argus to ” Buy” on Nov 2, 2016. Norfolk Southern Corp. was Upgraded by BofA/Merrill to ” Buy” on Oct 11, 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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