State Street Corp lowered its stake in Kansas City Southern (NYSE:KSU) by 2.2% during the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 4,557,563 shares of the transportation company’s stock after selling 100,601 shares during the quarter. State Street Corp owned about 4.32% of Kansas City Southern worth $476,950,000 at the end of the most recent reporting period.
Several other hedge funds also recently bought and sold shares of the company. BlackRock Inc. lifted its stake in shares of Kansas City Southern by 4,542.5% in the 1st quarter. BlackRock Inc. now owns 10,407,991 shares of the transportation company’s stock valued at $892,591,000 after purchasing an additional 10,183,801 shares during the period. Vanguard Group Inc. lifted its stake in shares of Kansas City Southern by 2.5% in the 2nd quarter. Vanguard Group Inc. now owns 10,363,571 shares of the transportation company’s stock valued at $1,084,547,000 after purchasing an additional 253,631 shares during the period. Massachusetts Financial Services Co. MA lifted its stake in shares of Kansas City Southern by 588.6% in the 1st quarter. Massachusetts Financial Services Co. MA now owns 4,313,685 shares of the transportation company’s stock valued at $369,943,000 after purchasing an additional 3,687,248 shares during the period. Sustainable Growth Advisers LP lifted its stake in shares of Kansas City Southern by 19.7% in the 2nd quarter. Sustainable Growth Advisers LP now owns 2,500,791 shares of the transportation company’s stock valued at $261,708,000 after purchasing an additional 412,275 shares during the period. Finally, Wells Fargo & Company MN lifted its stake in shares of Kansas City Southern by 11.2% in the 2nd quarter. Wells Fargo & Company MN now owns 2,388,555 shares of the transportation company’s stock valued at $249,963,000 after purchasing an additional 241,403 shares during the period. 84.59% of the stock is currently owned by institutional investors.
A number of research analysts have recently weighed in on KSU shares. BidaskClub downgraded Kansas City Southern from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Credit Suisse Group raised Kansas City Southern from a “neutral” rating to an “outperform” rating and increased their price target for the company from $90.00 to $116.00 in a research note on Friday, June 16th. Zacks Investment Research raised Kansas City Southern from a “hold” rating to a “buy” rating and set a $118.00 price target on the stock in a research note on Thursday, August 24th. Cowen and Company reissued a “hold” rating on shares of Kansas City Southern in a research note on Friday, August 25th. Finally, Stifel Nicolaus reissued a “buy” rating and issued a $108.00 price target on shares of Kansas City Southern in a research note on Friday, June 30th. Nine investment analysts have rated the stock with a hold rating, ten have assigned a buy rating and one has assigned a strong buy rating to the company. The company currently has a consensus rating of “Buy” and a consensus price target of $109.19.
In other Kansas City Southern news, Director Henry J. Maier bought 3,000 shares of the stock in a transaction that occurred on Thursday, August 17th. The shares were bought at an average price of $106.19 per share, for a total transaction of $318,570.00. Following the acquisition, the director now directly owns 4,159 shares of the company’s stock, valued at approximately $441,644.21. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Antonio O. Garza sold 4,018 shares of the company’s stock in a transaction dated Tuesday, August 22nd. The stock was sold at an average price of $107.94, for a total transaction of $433,702.92. Following the completion of the sale, the director now owns 4,920 shares in the company, valued at approximately $531,064.80. The disclosure for this sale can be found here. Insiders have sold 14,469 shares of company stock worth $1,522,510 in the last quarter. Company insiders own 0.95% of the company’s stock.
Kansas City Southern (NYSE KSU) opened at 105.845 on Friday. The firm’s 50-day moving average price is $105.68 and its 200-day moving average price is $99.24. Kansas City Southern has a 12-month low of $79.05 and a 12-month high of $109.13. The company has a market cap of $11.16 billion, a PE ratio of 21.301 and a beta of 0.81.
Kansas City Southern (NYSE:KSU) last released its earnings results on Friday, July 21st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.26 by $0.07. Kansas City Southern had a net margin of 21.52% and a return on equity of 11.40%. The business had revenue of $656.40 million for the quarter, compared to analyst estimates of $627.81 million. During the same quarter in the previous year, the business earned $1.22 earnings per share. Kansas City Southern’s revenue for the quarter was up 15.5% on a year-over-year basis. Equities research analysts forecast that Kansas City Southern will post $5.19 earnings per share for the current fiscal year.
Kansas City Southern announced that its Board of Directors has initiated a share buyback program on Tuesday, August 15th that permits the company to repurchase $800.00 million in shares. This repurchase authorization permits the transportation company to purchase up to 7.1% of its shares through open market purchases. Shares repurchase programs are often a sign that the company’s board believes its stock is undervalued.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Monday, September 11th were issued a dividend of $0.36 per share. The ex-dividend date of this dividend was Friday, September 8th. This represents a $1.44 annualized dividend and a dividend yield of 1.37%. This is a positive change from Kansas City Southern’s previous quarterly dividend of $0.33. Kansas City Southern’s dividend payout ratio is currently 28.92%.
Kansas City Southern Company Profile
Kansas City Southern (KCS) is a holding company. The Company has domestic and international rail operations in North America that are focused on the north/south freight corridor connecting commercial and industrial markets in the central United States with industrial cities in Mexico. The Company’s subsidiaries include The Kansas City Southern Railway Company (KCSR) and Kansas City Southern de Mexico, SA de C.V.
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