Azzad Asset Management Inc. ADV Purchases New Shares in Norfolk Southern Corporation $NSC

Azzad Asset Management Inc. ADV acquired a new position in Norfolk Southern Corporation (NYSE:NSC) in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 5,159 shares of the railroad operator’s stock, valued at approximately $1,550,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in NSC. Brighton Jones LLC grew its position in shares of Norfolk Southern by 4.9% in the 4th quarter. Brighton Jones LLC now owns 1,706 shares of the railroad operator’s stock worth $400,000 after buying an additional 79 shares during the period. Intech Investment Management LLC boosted its stake in Norfolk Southern by 40.4% during the first quarter. Intech Investment Management LLC now owns 6,447 shares of the railroad operator’s stock worth $1,527,000 after acquiring an additional 1,855 shares in the last quarter. Sivia Capital Partners LLC bought a new stake in Norfolk Southern during the second quarter worth about $327,000. Belpointe Asset Management LLC purchased a new stake in Norfolk Southern in the second quarter worth about $205,000. Finally, Blair William & Co. IL increased its stake in shares of Norfolk Southern by 2.5% during the second quarter. Blair William & Co. IL now owns 41,999 shares of the railroad operator’s stock valued at $10,751,000 after purchasing an additional 1,006 shares in the last quarter. Hedge funds and other institutional investors own 75.10% of the company’s stock.

Norfolk Southern Stock Performance

Shares of NSC stock opened at $306.64 on Monday. The company has a quick ratio of 0.78, a current ratio of 0.85 and a debt-to-equity ratio of 1.06. The company has a 50 day moving average price of $291.69 and a 200-day moving average price of $286.91. Norfolk Southern Corporation has a 52 week low of $201.63 and a 52 week high of $309.21. The firm has a market capitalization of $68.81 billion, a PE ratio of 24.05, a P/E/G ratio of 5.45 and a beta of 1.34.

Norfolk Southern (NYSE:NSC) last issued its quarterly earnings data on Thursday, January 29th. The railroad operator reported $3.22 earnings per share for the quarter, beating analysts’ consensus estimates of $2.76 by $0.46. Norfolk Southern had a net margin of 23.59% and a return on equity of 18.78%. The company had revenue of $3 billion for the quarter, compared to the consensus estimate of $3.03 billion. During the same quarter in the prior year, the firm earned $3.04 earnings per share. The firm’s revenue for the quarter was down 1.7% compared to the same quarter last year. As a group, equities research analysts expect that Norfolk Southern Corporation will post 13 earnings per share for the current year.

Norfolk Southern Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Friday, February 20th. Investors of record on Friday, February 6th will be issued a $1.35 dividend. The ex-dividend date of this dividend is Friday, February 6th. This represents a $5.40 annualized dividend and a dividend yield of 1.8%. Norfolk Southern’s payout ratio is presently 42.35%.

Insiders Place Their Bets

In other Norfolk Southern news, EVP Anil Bhatt sold 900 shares of the stock in a transaction dated Wednesday, November 19th. The stock was sold at an average price of $281.60, for a total value of $253,440.00. Following the transaction, the executive vice president owned 1,413 shares of the company’s stock, valued at approximately $397,900.80. This represents a 38.91% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director William Jr. Clyburn bought 204 shares of the company’s stock in a transaction on Friday, December 5th. The stock was purchased at an average cost of $294.79 per share, for a total transaction of $60,137.16. Following the completion of the transaction, the director directly owned 405 shares of the company’s stock, valued at approximately $119,389.95. The trade was a 101.49% increase in their position. Additional details regarding this purchase are available in the official SEC disclosure. 0.06% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

A number of analysts have recently commented on NSC shares. Royal Bank Of Canada dropped their price target on Norfolk Southern from $325.00 to $320.00 and set a “sector perform” rating on the stock in a research report on Friday, January 30th. BMO Capital Markets upped their price target on shares of Norfolk Southern from $285.00 to $305.00 and gave the stock a “market perform” rating in a research note on Friday, October 24th. JPMorgan Chase & Co. cut their price objective on shares of Norfolk Southern from $301.00 to $296.00 and set a “neutral” rating on the stock in a research report on Friday, January 30th. Citigroup decreased their target price on shares of Norfolk Southern from $317.00 to $300.00 and set a “neutral” rating for the company in a report on Friday, January 30th. Finally, Sanford C. Bernstein cut their price target on shares of Norfolk Southern from $347.00 to $333.00 and set an “outperform” rating on the stock in a report on Tuesday, November 11th. Seven analysts have rated the stock with a Buy rating, fifteen have given a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $304.47.

About Norfolk Southern

Norfolk Southern Corporation is a major U.S. freight railroad company that provides rail transportation and related logistics services. As a Class I carrier, the company operates an extensive network across the eastern United States and offers scheduled freight service for a broad range of industries. Its core operations include long-haul and regional rail freight transportation, intermodal services that move containers and trailers between rail and other modes, and terminal and switching services that support efficient rail shipments for industrial and port customers.

The company transports a variety of commodities, serving sectors such as coal and energy, automotive and automotive parts, chemicals, agriculture, metals and construction materials, and consumer goods.