Pinnacle Associates Ltd. decreased its holdings in shares of Kansas City Southern (NYSE:KSU) by 12.9% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 328,485 shares of the transportation company’s stock after selling 48,636 shares during the quarter. Pinnacle Associates Ltd. owned approximately 0.32% of Kansas City Southern worth $37,211,000 as of its most recent SEC filing.
Other institutional investors and hedge funds have also made changes to their positions in the company. Principal Financial Group Inc. lifted its holdings in Kansas City Southern by 1.2% in the 1st quarter. Principal Financial Group Inc. now owns 159,239 shares of the transportation company’s stock worth $17,492,000 after buying an additional 1,876 shares in the last quarter. Municipal Employees Retirement System of Michigan increased its position in shares of Kansas City Southern by 22.1% in the 2nd quarter. Municipal Employees Retirement System of Michigan now owns 9,730 shares of the transportation company’s stock worth $1,031,000 after purchasing an additional 1,760 shares during the last quarter. Cornerstone Wealth Management LLC bought a new stake in shares of Kansas City Southern in the 2nd quarter worth about $1,239,000. Steward Partners Investment Advisory LLC increased its position in shares of Kansas City Southern by 45.3% in the 2nd quarter. Steward Partners Investment Advisory LLC now owns 3,705 shares of the transportation company’s stock worth $393,000 after purchasing an additional 1,155 shares during the last quarter. Finally, Janney Montgomery Scott LLC increased its position in shares of Kansas City Southern by 10.2% in the 2nd quarter. Janney Montgomery Scott LLC now owns 13,571 shares of the transportation company’s stock worth $1,438,000 after purchasing an additional 1,255 shares during the last quarter. Institutional investors own 86.79% of the company’s stock.
In other news, Director Henry J. Maier bought 1,000 shares of the firm’s stock in a transaction on Friday, October 26th. The stock was purchased at an average price of $102.68 per share, for a total transaction of $102,680.00. Following the transaction, the director now owns 7,122 shares in the company, valued at $731,286.96. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, VP Suzanne M. Grafton sold 729 shares of the company’s stock in a transaction dated Wednesday, August 29th. The stock was sold at an average price of $119.78, for a total transaction of $87,319.62. Following the completion of the transaction, the vice president now owns 10,580 shares of the company’s stock, valued at approximately $1,267,272.40. The disclosure for this sale can be found here. 0.70% of the stock is currently owned by corporate insiders.
Kansas City Southern (NYSE:KSU) last announced its quarterly earnings data on Friday, October 19th. The transportation company reported $1.57 earnings per share for the quarter, meeting analysts’ consensus estimates of $1.57. Kansas City Southern had a net margin of 37.98% and a return on equity of 11.98%. The business had revenue of $699.00 million during the quarter, compared to the consensus estimate of $708.19 million. During the same quarter in the prior year, the firm earned $1.35 EPS. The company’s revenue for the quarter was up 6.5% compared to the same quarter last year. As a group, research analysts forecast that Kansas City Southern will post 5.99 EPS for the current fiscal year.
The company also recently announced a quarterly dividend, which will be paid on Wednesday, January 16th. Shareholders of record on Monday, December 31st will be given a $0.36 dividend. This represents a $1.44 annualized dividend and a yield of 1.46%. The ex-dividend date of this dividend is Friday, December 28th. Kansas City Southern’s dividend payout ratio (DPR) is 27.43%.
KSU has been the subject of several research analyst reports. Zacks Investment Research raised shares of Kansas City Southern from a “sell” rating to a “hold” rating in a research report on Friday, October 5th. ValuEngine downgraded shares of Kansas City Southern from a “hold” rating to a “sell” rating in a research report on Thursday, November 15th. Deutsche Bank boosted their target price on shares of Kansas City Southern from $119.00 to $120.00 and gave the stock a “hold” rating in a research report on Thursday, September 27th. Seaport Global Securities raised shares of Kansas City Southern from a “neutral” rating to a “buy” rating in a research report on Monday, October 22nd. They noted that the move was a valuation call. Finally, Loop Capital boosted their target price on shares of Kansas City Southern to $140.00 and gave the stock a “buy” rating in a research report on Tuesday, August 28th. One analyst has rated the stock with a sell rating, two have assigned a hold rating, eight have issued a buy rating and one has given a strong buy rating to the company. Kansas City Southern presently has an average rating of “Buy” and a consensus price target of $126.64.
About Kansas City Southern
Kansas City Southern, through its subsidiaries, provides domestic and international rail transportation services in North America. It serves a ten-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 ports along the Gulf of Mexico in Alabama, Louisiana, Mississippi, and Texas.
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