State of Alaska Department of Revenue cut its position in shares of Kansas City Southern (NYSE:KSU) by 24.1% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 4,507 shares of the transportation company’s stock after selling 1,430 shares during the period. State of Alaska Department of Revenue’s holdings in Kansas City Southern were worth $471,000 at the end of the most recent reporting period.
Several other hedge funds have also modified their holdings of KSU. Kentucky Retirement Systems purchased a new stake in Kansas City Southern during the fourth quarter worth about $662,000. Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Kansas City Southern during the fourth quarter worth about $296,000. Highbridge Capital Management LLC increased its stake in Kansas City Southern by 555.7% in the fourth quarter. Highbridge Capital Management LLC now owns 202,265 shares of the transportation company’s stock worth $17,162,000 after buying an additional 171,419 shares in the last quarter. Chevy Chase Trust Holdings Inc. increased its stake in Kansas City Southern by 2.3% in the first quarter. Chevy Chase Trust Holdings Inc. now owns 91,933 shares of the transportation company’s stock worth $7,884,000 after buying an additional 2,039 shares in the last quarter. Finally, First American Trust FSB increased its stake in Kansas City Southern by 37.8% in the first quarter. First American Trust FSB now owns 38,619 shares of the transportation company’s stock worth $3,312,000 after buying an additional 10,595 shares in the last quarter. 85.05% of the stock is owned by institutional investors.
Kansas City Southern (NYSE KSU) traded down 0.07% during trading on Friday, reaching $105.80. The company had a trading volume of 944,875 shares. The stock has a market capitalization of $11.15 billion, a P/E ratio of 21.29 and a beta of 0.80. Kansas City Southern has a 12-month low of $79.05 and a 12-month high of $109.13. The stock has a 50 day moving average of $103.97 and a 200-day moving average of $93.85.
Kansas City Southern (NYSE:KSU) last issued its quarterly earnings results on Friday, July 21st. The transportation company reported $1.33 earnings per share for the quarter, beating the Zacks’ 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 company had revenue of $656.40 million during the quarter, compared to the consensus estimate of $627.81 million. During the same period in the prior year, the company earned $1.22 EPS. Kansas City Southern’s revenue was up 15.5% on a year-over-year basis. On average, analysts forecast that Kansas City Southern will post $5.21 earnings per share for the current fiscal year.
Kansas City Southern declared that its Board of Directors has approved a stock repurchase plan on Tuesday, August 15th that authorizes the company to buyback $800.00 million in outstanding shares. This buyback authorization authorizes the transportation company to reacquire up to 7.1% of its stock through open market purchases. Stock buyback plans are usually an indication that the company’s leadership believes its stock is undervalued.
The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Monday, September 11th will be issued a $0.36 dividend. This is an increase from Kansas City Southern’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, September 8th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.36%. Kansas City Southern’s dividend payout ratio is currently 26.51%.
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Several research firms recently issued reports on KSU. BidaskClub raised Kansas City Southern from a “buy” rating to a “strong-buy” rating in a research note on Friday. Stifel Nicolaus lifted their price target on Kansas City Southern from $114.00 to $118.00 and gave the stock a “buy” rating in a research note on Friday. Cowen and Company reissued a “market perform” rating and issued a $104.00 target price (up previously from $95.00) on shares of Kansas City Southern in a research note on Monday, July 24th. BMO Capital Markets reissued a “hold” rating and issued a $92.00 target price on shares of Kansas City Southern in a research note on Wednesday, May 24th. Finally, Aegis boosted their target price on Kansas City Southern from $110.00 to $115.00 and gave the company a “buy” rating in a research note on Monday, June 19th. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has issued a strong buy rating to the stock. Kansas City Southern presently has an average rating of “Buy” and an average price target of $103.33.
In other Kansas City Southern news, Director Henry J. Maier bought 3,000 shares of the company’s stock in a transaction dated 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 $441,644.21. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 0.95% of the stock is owned by corporate insiders.
About Kansas City Southern
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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