Gluskin Sheff & Assoc Inc. lessened its holdings in shares of Kansas City Southern (NYSE:KSU) by 0.2% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 308,349 shares of the transportation company’s stock after selling 620 shares during the quarter. Kansas City Southern comprises 3.0% of Gluskin Sheff & Assoc Inc.’s portfolio, making the stock its 10th biggest holding. Gluskin Sheff & Assoc Inc. owned 0.29% of Kansas City Southern worth $32,269,000 as of its most recent SEC filing.
A number of other institutional investors and hedge funds have also modified their holdings of KSU. BlackRock Inc. raised its stake in Kansas City Southern by 4,542.5% during 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. Massachusetts Financial Services Co. MA raised its stake in Kansas City Southern by 588.6% during 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 raised its stake in Kansas City Southern by 49.4% during the 1st quarter. Sustainable Growth Advisers LP now owns 2,088,516 shares of the transportation company’s stock valued at $179,111,000 after purchasing an additional 690,470 shares during the period. MARSHALL WACE ASIA Ltd bought a new stake in Kansas City Southern during the 1st quarter valued at approximately $52,373,000. Finally, Marshall Wace North America L.P. bought a new stake in Kansas City Southern during the 1st quarter valued at approximately $52,373,000. 84.52% of the stock is currently owned by institutional investors.
KSU has been the topic of several recent analyst reports. BMO Capital Markets reissued a “hold” rating and set a $92.00 target price on shares of Kansas City Southern in a research note on Wednesday, May 24th. Credit Suisse Group reissued a “neutral” rating and set a $90.00 target price (up previously from $87.00) on shares of Kansas City Southern in a research note on Sunday, May 28th. Aegis lifted 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. BidaskClub downgraded Kansas City Southern from a “strong-buy” rating to a “buy” rating in a research note on Thursday, June 22nd. Finally, Stifel Nicolaus reissued a “buy” rating and set a $108.00 target price on shares of Kansas City Southern in a research note on Friday, June 30th. Eleven research analysts have rated the stock with a hold rating, eight have assigned a buy rating and one has given a strong buy rating to the stock. The stock presently has a consensus rating of “Buy” and an average price target of $105.53.
In related news, insider Delano Jose Guillermo Zozaya sold 6,000 shares of the stock in a transaction that occurred on Monday, August 28th. The stock was sold at an average price of $102.93, for a total value of $617,580.00. Following the completion of the sale, the insider now owns 42,087 shares of the company’s stock, valued at $4,332,014.91. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Antonio O. Garza sold 4,018 shares of the stock in a transaction that occurred on Tuesday, August 22nd. The shares were sold at an average price of $107.94, for a total value of $433,702.92. Following the completion of the sale, the director now directly owns 4,920 shares of the company’s stock, valued at approximately $531,064.80. The disclosure for this sale can be found here. Insiders have sold 14,469 shares of company stock valued at $1,522,510 in the last three months. Insiders own 0.95% of the company’s stock.
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Shares of Kansas City Southern (NYSE:KSU) traded up 0.88% during trading on Wednesday, hitting $107.30. The stock had a trading volume of 109,668 shares. Kansas City Southern has a 52-week low of $79.05 and a 52-week high of $109.13. The firm’s 50-day moving average is $104.59 and its 200 day moving average is $96.84. The firm has a market cap of $11.31 billion, a price-to-earnings ratio of 21.59 and a beta of 0.79.
Kansas City Southern (NYSE:KSU) last announced its earnings results on Friday, July 21st. The transportation company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.26 by $0.07. Kansas City Southern had a return on equity of 11.40% and a net margin of 21.52%. The business had revenue of $656.40 million during the quarter, compared to analysts’ expectations of $627.81 million. During the same quarter in the prior year, the firm earned $1.22 earnings per share. The business’s revenue was up 15.5% compared to the same quarter last year. On average, analysts expect that Kansas City Southern will post $5.20 EPS for the current year.
Kansas City Southern announced that its board has approved a stock repurchase plan on Tuesday, August 15th that authorizes the company to repurchase $800.00 million in shares. This repurchase authorization authorizes the transportation company to reacquire up to 7.1% of its shares through open market purchases. Shares repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Monday, September 11th will be issued a dividend of $0.36 per share. The ex-dividend date is Friday, September 8th. This represents a $1.44 dividend on an annualized basis and a dividend yield of 1.35%. This is a boost from Kansas City Southern’s previous quarterly dividend of $0.33. Kansas City Southern’s dividend payout ratio is presently 28.92%.
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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