Kornitzer Capital Management Inc. KS lowered its stake in shares of Kansas City Southern (NYSE:KSU) by 13.6% during the second quarter, Holdings Channel reports. The institutional investor owned 163,505 shares of the company’s stock after selling 25,830 shares during the period. Kornitzer Capital Management Inc. KS’s holdings in Kansas City Southern were worth $14,730,000 at the end of the most recent quarter.
A number of other hedge funds have also recently added to or reduced their stakes in the stock. Seven Bridges Advisors LLC raised its stake in Kansas City Southern by 30.0% in the second quarter. Seven Bridges Advisors LLC now owns 1,200 shares of the company’s stock valued at $108,000 after buying an additional 277 shares in the last quarter. Meeder Asset Management Inc. raised its stake in Kansas City Southern by 1,065.2% in the second quarter. Meeder Asset Management Inc. now owns 1,538 shares of the company’s stock valued at $138,000 after buying an additional 1,406 shares in the last quarter. ING Groep NV purchased a new stake in Kansas City Southern during the first quarter valued at approximately $213,000. Boothbay Fund Management LLC purchased a new stake in Kansas City Southern during the first quarter valued at approximately $215,000. Finally, Cleararc Capital Inc. purchased a new stake in Kansas City Southern during the first quarter valued at approximately $226,000. Institutional investors own 91.32% of the company’s stock.
Shares of Kansas City Southern (NYSE:KSU) traded up 1.38% on Friday, hitting $94.55. 1,600,003 shares of the company were exchanged. Kansas City Southern has a 52-week low of $62.20 and a 52-week high of $100.69. The company has a 50-day moving average price of $93.60 and a 200 day moving average price of $92.67. The firm has a market cap of $10.21 billion, a P/E ratio of 20.58 and a beta of 1.14.
Kansas City Southern (NYSE:KSU) last issued its quarterly earnings data on Tuesday, July 19th. The company reported $1.22 EPS for the quarter, beating the Zacks’ consensus estimate of $1.08 by $0.14. The firm had revenue of $569 million for the quarter, compared to analysts’ expectations of $572.20 million. Kansas City Southern had a net margin of 21.13% and a return on equity of 12.00%. Analysts predict that Kansas City Southern will post $4.73 EPS for the current fiscal year.
The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, October 5th. Investors of record on Monday, September 12th were paid a $0.33 dividend. The ex-dividend date was Thursday, September 8th. This represents a $1.32 dividend on an annualized basis and a yield of 1.42%. Kansas City Southern’s payout ratio is 28.82%.
KSU has been the topic of several analyst reports. Zacks Investment Research upgraded shares of Kansas City Southern from a “hold” rating to a “buy” rating and set a $105.00 price target on the stock in a research report on Wednesday, August 3rd. TheStreet upgraded shares of Kansas City Southern from a “hold” rating to a “buy” rating in a research report on Thursday, July 28th. Citigroup Inc. increased their price objective on shares of Kansas City Southern from $108.00 to $109.00 and gave the company a “buy” rating in a report on Wednesday, July 20th. Bank of America Corp. reaffirmed a “buy” rating on shares of Kansas City Southern in a report on Tuesday, July 12th. Finally, Loop Capital reaffirmed a “buy” rating and set a $115.00 price objective on shares of Kansas City Southern in a report on Monday, August 15th. One investment analyst has rated the stock with a sell rating, eleven have given a hold rating, ten have assigned a buy rating and one has issued a strong buy rating to the company’s stock. Kansas City Southern currently has an average rating of “Hold” and a consensus target price of $100.92.
In other Kansas City Southern news, insider David L. Starling sold 5,100 shares of the company’s stock in a transaction dated Wednesday, July 20th. The shares were sold at an average price of $98.88, for a total value of $504,288.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, CEO Patrick J. Ottensmeyer sold 5,000 shares of the company’s stock in a transaction dated Thursday, August 4th. The shares were sold at an average price of $95.62, for a total transaction of $478,100.00. Following the completion of the transaction, the chief executive officer now owns 90,228 shares in the company, valued at $8,627,601.36. The disclosure for this sale can be found here. 0.86% of the stock is currently owned by corporate insiders.
Kansas City Southern Company Profile
Kansas City Southern (KCS) is a transportation holding company with 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 controls and owns The Kansas City Southern Railway Company (KCSR), a United States Class I railroad that serves a 10-state region in the midwest and southeast regions of the United States and has the shortest north/south rail route between Kansas City, Missouri and several key ports along the Gulf of Mexico in Alabama, Louisiana, Mississippi and Texas.
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