Fred Alger Management Inc. Purchases New Position in Kansas City Southern (KSU)
Fred Alger Management Inc. purchased a new stake in Kansas City Southern (NYSE:KSU) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 22,884 shares of the transportation company’s stock, valued at approximately $2,395,000.
Other institutional investors and hedge funds have also recently made changes to their positions in the company. Boston Common Asset Management LLC lifted its stake in shares of Kansas City Southern by 63.6% in the 1st quarter. Boston Common Asset Management LLC now owns 56,095 shares of the transportation company’s stock valued at $4,811,000 after acquiring an additional 21,803 shares during the last quarter. V Wealth Management LLC bought a new position in shares of Kansas City Southern in the 2nd quarter valued at $169,000. Eaton Vance Management lifted its stake in shares of Kansas City Southern by 179.5% in the 2nd quarter. Eaton Vance Management now owns 175,346 shares of the transportation company’s stock valued at $18,350,000 after acquiring an additional 112,609 shares during the last quarter. Westpac Banking Corp lifted its stake in shares of Kansas City Southern by 28.9% in the 2nd quarter. Westpac Banking Corp now owns 117,572 shares of the transportation company’s stock valued at $12,304,000 after acquiring an additional 26,363 shares during the last quarter. Finally, Oppenheimer & Co. Inc. lifted its stake in shares of Kansas City Southern by 20.2% in the 2nd quarter. Oppenheimer & Co. Inc. now owns 66,368 shares of the transportation company’s stock valued at $6,946,000 after acquiring an additional 11,138 shares during the last quarter. Institutional investors own 84.59% of the company’s stock.
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Shares of Kansas City Southern (KSU) opened at 103.74 on Friday. The firm’s 50-day moving average price is $105.92 and its 200-day moving average price is $98.59. Kansas City Southern has a one year low of $79.05 and a one year high of $109.13. The firm has a market capitalization of $10.94 billion, a P/E ratio of 20.88 and a beta of 0.81.
Kansas City Southern (NYSE:KSU) last issued its quarterly earnings data on Friday, July 21st. The transportation company reported $1.33 EPS for the quarter, beating the consensus estimate of $1.26 by $0.07. The firm had revenue of $656.40 million during the quarter, compared to the consensus estimate of $627.81 million. Kansas City Southern had a net margin of 21.52% and a return on equity of 11.40%. The company’s quarterly revenue was up 15.5% compared to the same quarter last year. During the same period in the prior year, the firm posted $1.22 earnings per share. On average, equities analysts forecast that Kansas City Southern will post $5.20 earnings per share for the current year.
The company also recently disclosed a quarterly dividend, which was paid on Wednesday, October 4th. Stockholders of record on Monday, September 11th were paid a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a dividend yield of 1.39%. This is an increase from Kansas City Southern’s previous quarterly dividend of $0.33. The ex-dividend date was Friday, September 8th. Kansas City Southern’s dividend payout ratio is 28.92%.
Kansas City Southern declared that its Board of Directors has approved a stock repurchase plan on Tuesday, August 15th that permits the company to buyback $800.00 million in shares. This buyback authorization permits the transportation company to purchase up to 7.1% of its shares through open market purchases. Shares buyback plans are usually an indication that the company’s management believes its stock is undervalued.
In other news, Director Henry J. Maier acquired 3,000 shares of the stock in a transaction dated Thursday, August 17th. The stock was purchased at an average cost of $106.19 per share, with a total value of $318,570.00. Following the completion of the purchase, the director now owns 4,159 shares in the company, valued at approximately $441,644.21. The purchase was disclosed in a filing with the SEC, which is available through the SEC website. Also, SVP Mary K. Stadler sold 4,451 shares of the company’s stock in a transaction dated Friday, August 18th. The shares were sold at an average price of $105.87, for a total transaction of $471,227.37. Following the transaction, the senior vice president now directly owns 8,814 shares of the company’s stock, valued at $933,138.18. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 14,469 shares of company stock valued at $1,522,510. Insiders own 0.95% of the company’s stock.
A number of brokerages have recently commented on KSU. Stifel Nicolaus reiterated a “buy” rating and issued a $118.00 price target (up from $114.00) on shares of Kansas City Southern in a research note on Friday, August 18th. BidaskClub downgraded Kansas City Southern from a “strong-buy” rating to a “buy” rating in a report on Friday, July 28th. Bank of America Corporation increased their price objective on Kansas City Southern from $112.00 to $113.00 and gave the company a “neutral” rating in a report on Monday, August 21st. Zacks Investment Research downgraded Kansas City Southern from a “buy” rating to a “hold” rating in a report on Monday, September 11th. Finally, Aegis increased their price objective on Kansas City Southern from $110.00 to $115.00 and gave the company a “buy” rating in a report on Monday, June 19th. Eleven investment analysts have rated the stock with a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. The company presently has an average rating of “Buy” and a consensus price target of $107.60.
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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