Billionaire Steve Cohen is Buying These 5 Stocks in 2022

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1. Norfolk Southern Corporation (NYSE:NSC)

Number of Hedge Fund Holders: 48

Norfolk Southern Corporation (NYSE:NSC) is a Georgia-based company that provides rail transportation services for raw materials, intermediate products, and finished goods in the United States. Norfolk Southern Corporation (NYSE:NSC) is a new addition to billionaire Steve Cohen’s Q1 2022 portfolio. He purchased 406,242 shares of the company, worth $115.8 million. 

On May 19, Citi analyst Christian Wetherbee downgraded Norfolk Southern Corporation (NYSE:NSC) to Neutral from Buy, slashing the price target to $260 from $345. He sees short-term risk in a decelerating freight and economic environment. However, he noted that rail valuations have improved relative to the market and earnings growth expectations are at their highest. 

According to Insider Monkey’s database, Norfolk Southern Corporation (NYSE:NSC) was part of 48 public hedge fund portfolios at the end of the first quarter of 2022, compared to 46 funds in the last quarter. Billionaire Israel Englander’s Millennium Management held the largest position in the company, comprising over 1 million shares worth $291.10 million.

You can also take a look at 10 Consumer Technology Stocks to Invest In According to Ken Fisher’s Fisher Asset Management and 10 Finance Stocks to Buy Today According to George Soros’ Soros Fund Management.

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