Kansas City Southern (KSU) Stake Raised by Cibc World Markets Corp
Cibc World Markets Corp increased its holdings in Kansas City Southern (NYSE:KSU) by 34.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 14,996 shares of the transportation company’s stock after purchasing an additional 3,858 shares during the period. Cibc World Markets Corp’s holdings in Kansas City Southern were worth $1,569,000 as of its most recent SEC filing.
Other large investors have also made changes to their positions in the company. V Wealth Management LLC purchased a new stake in shares of Kansas City Southern in the second quarter valued at $169,000. Advisor Partners LLC purchased a new stake in shares of Kansas City Southern in the second quarter valued at $202,000. Glenview State Bank Trust DEPT. purchased a new stake in shares of Kansas City Southern in the second quarter valued at $209,000. Sabal Trust CO purchased a new stake in shares of Kansas City Southern in the second quarter valued at $225,000. Finally, Pacer Advisors Inc. grew its position in shares of Kansas City Southern by 3.1% in the first quarter. Pacer Advisors Inc. now owns 2,202 shares of the transportation company’s stock valued at $189,000 after purchasing an additional 66 shares during the period. 84.52% of the stock is owned by institutional investors and hedge funds.
In related news, insider Delano Jose Guillermo Zozaya sold 6,000 shares of the stock in a transaction dated Monday, August 28th. The shares were 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 in the company, valued at $4,332,014.91. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Antonio O. Garza sold 4,018 shares of the stock in a transaction dated Tuesday, August 22nd. The shares were 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 of the company’s stock, valued at approximately $531,064.80. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 14,469 shares of company stock worth $1,522,510. 0.95% of the stock is currently owned by company insiders.
Shares of Kansas City Southern (KSU) opened at 108.68 on Friday. The firm’s 50-day moving average price is $104.59 and its 200 day moving average price is $96.84. Kansas City Southern has a 52 week low of $79.05 and a 52 week high of $109.13. The firm has a market cap of $11.46 billion, a PE ratio of 21.87 and a beta of 0.79.
Kansas City Southern (NYSE:KSU) last issued its quarterly earnings results on Friday, July 21st. The transportation company reported $1.33 earnings per share (EPS) for the quarter, beating the Thomson Reuters’ consensus estimate of $1.26 by $0.07. The company had revenue of $656.40 million for the quarter, compared to the consensus estimate of $627.81 million. Kansas City Southern had a return on equity of 11.40% and a net margin of 21.52%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same period last year, the business posted $1.22 earnings per share. Equities analysts anticipate that Kansas City Southern will post $5.20 EPS for the current year.
Kansas City Southern announced that its board has authorized a stock buyback 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 stock through open market purchases. Stock repurchase plans are usually an indication that the company’s board believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Stockholders of record on Monday, September 11th will be given a $0.36 dividend. This is an increase from Kansas City Southern’s previous quarterly dividend of $0.33. This represents a $1.44 annualized dividend and a dividend yield of 1.32%. The ex-dividend date is Friday, September 8th. Kansas City Southern’s dividend payout ratio (DPR) is currently 28.92%.
A number of brokerages have recently commented on KSU. Stifel Nicolaus reaffirmed a “buy” rating and issued a $118.00 price objective on shares of Kansas City Southern in a research report on Thursday, September 21st. Zacks Investment Research downgraded Kansas City Southern from a “buy” rating to a “hold” rating in a research report on Monday, September 11th. Cowen and Company reissued a “hold” rating on shares of Kansas City Southern in a research report on Friday, August 25th. BMO Capital Markets reissued a “hold” rating and set a $105.00 price target on shares of Kansas City Southern in a research report on Friday, August 25th. Finally, Bank of America Corporation boosted their price target on Kansas City Southern from $112.00 to $113.00 and gave the company a “neutral” rating in a research report on Monday, August 21st. Eleven equities 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 company’s stock. Kansas City Southern currently has a consensus rating of “Buy” and a consensus target price of $105.53.
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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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