Parametric Portfolio Associates LLC Reduces Stake in Kansas City Southern (KSU)
Parametric Portfolio Associates LLC lowered its stake in Kansas City Southern (NYSE:KSU) by 12.7% in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 242,341 shares of the transportation company’s stock after selling 35,376 shares during the quarter. Parametric Portfolio Associates LLC owned approximately 0.23% of Kansas City Southern worth $25,361,000 as of its most recent SEC filing.
Several other hedge funds also recently bought and sold shares of KSU. V Wealth Management LLC acquired a new stake in shares of Kansas City Southern in the 2nd quarter valued at approximately $169,000. Pacer Advisors Inc. grew its holdings in shares of Kansas City Southern by 3.1% during the 1st 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 last quarter. Envestnet Asset Management Inc. grew its holdings in shares of Kansas City Southern by 2.4% during the 1st quarter. Envestnet Asset Management Inc. now owns 2,250 shares of the transportation company’s stock valued at $194,000 after purchasing an additional 52 shares during the last quarter. Advisor Partners LLC bought a new stake in shares of Kansas City Southern during the 2nd quarter valued at approximately $202,000. Finally, Winslow Evans & Crocker Inc. bought a new stake in shares of Kansas City Southern during the 2nd quarter valued at approximately $209,000. 84.59% of the stock is owned by hedge funds and other institutional investors.
Shares of Kansas City Southern (NYSE KSU) opened at 107.04 on Tuesday. The company has a 50-day moving average price of $105.91 and a 200 day moving average price of $98.16. Kansas City Southern has a one year low of $79.05 and a one year high of $109.13. The company has a market capitalization of $11.28 billion, a PE ratio of 21.54 and a beta of 0.81.
Kansas City Southern (NYSE:KSU) last issued its earnings results on Friday, July 21st. The transportation company reported $1.33 EPS for the quarter, topping analysts’ consensus estimates of $1.26 by $0.07. The company had revenue of $656.40 million for the quarter, compared to analysts’ expectations of $627.81 million. Kansas City Southern had a net margin of 21.52% and a return on equity of 11.40%. The firm’s revenue was up 15.5% compared to the same quarter last year. During the same quarter last year, the company earned $1.22 EPS. Equities analysts anticipate that Kansas City Southern will post $5.21 EPS for the current year.
Kansas City Southern declared that its board has initiated a stock repurchase program on Tuesday, August 15th that authorizes the company to buyback $800.00 million in outstanding shares. This buyback authorization authorizes the transportation company to purchase up to 7.1% of its stock through open market purchases. Stock buyback programs are generally an indication that the company’s board of directors believes its shares are undervalued.
The firm also recently declared a quarterly dividend, which will be paid on Wednesday, October 4th. Shareholders of record on Monday, September 11th will be given a dividend of $0.36 per share. This represents a $1.44 annualized dividend and a yield of 1.35%. This is a positive change from Kansas City Southern’s previous quarterly dividend of $0.33. The ex-dividend date is Friday, September 8th. Kansas City Southern’s dividend payout ratio is presently 28.92%.
In other news, SVP Mary K. Stadler sold 4,451 shares of Kansas City Southern stock in a transaction dated Friday, August 18th. The stock was sold at an average price of $105.87, for a total value of $471,227.37. Following the transaction, the senior vice president now owns 8,814 shares in the company, valued at $933,138.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, Director Henry J. Maier acquired 3,000 shares of the firm’s stock in a transaction dated Thursday, August 17th. The stock was bought at an average price of $106.19 per share, for a total transaction of $318,570.00. Following the acquisition, the director now owns 4,159 shares of the company’s stock, valued at approximately $441,644.21. The disclosure for this purchase can be found here. Over the last 90 days, insiders have sold 14,469 shares of company stock valued at $1,522,510. Company insiders own 0.95% of the company’s stock.
A number of equities analysts recently issued reports on the stock. Morgan Stanley reiterated an “equal weight” rating and set a $88.00 price objective (down from $93.00) on shares of Kansas City Southern in a research report on Monday. Zacks Investment Research upgraded shares of Kansas City Southern from a “hold” rating to a “buy” rating and set a $122.00 target price on the stock in a research report on Monday. Stifel Nicolaus restated a “buy” rating and issued a $118.00 target price on shares of Kansas City Southern in a research report on Thursday, September 21st. Cowen and Company reaffirmed a “hold” rating on shares of Kansas City Southern in a research note on Friday, August 25th. Finally, BMO Capital Markets reaffirmed a “hold” rating and set a $105.00 target price on shares of Kansas City Southern in a research note on Friday, August 25th. Ten equities research analysts have rated the stock with a hold rating, nine have assigned a buy rating and one has assigned a strong buy rating to the company’s stock. The company has an average rating of “Buy” and an average target price of $106.00.
Kansas City Southern 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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