Primecap Management Co. CA Reduces Position in Kirby Co. (NYSE:KEX)

Primecap Management Co. CA decreased its position in shares of Kirby Co. (NYSE:KEXFree Report) by 5.5% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 328,500 shares of the shipping company’s stock after selling 19,200 shares during the quarter. Primecap Management Co. CA’s holdings in Kirby were worth $25,781,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Orion Portfolio Solutions LLC grew its position in Kirby by 0.7% in the 4th quarter. Orion Portfolio Solutions LLC now owns 17,847 shares of the shipping company’s stock valued at $1,388,000 after buying an additional 124 shares during the last quarter. Treasurer of the State of North Carolina raised its holdings in Kirby by 0.5% during the third quarter. Treasurer of the State of North Carolina now owns 26,157 shares of the shipping company’s stock worth $2,166,000 after purchasing an additional 130 shares in the last quarter. Swiss National Bank lifted its position in Kirby by 0.9% in the third quarter. Swiss National Bank now owns 32,957 shares of the shipping company’s stock valued at $2,729,000 after purchasing an additional 300 shares during the period. Keybank National Association OH increased its position in Kirby by 3.8% during the 3rd quarter. Keybank National Association OH now owns 8,565 shares of the shipping company’s stock worth $709,000 after purchasing an additional 313 shares during the period. Finally, Keene & Associates Inc. raised its stake in shares of Kirby by 6.0% during the 4th quarter. Keene & Associates Inc. now owns 5,553 shares of the shipping company’s stock worth $436,000 after buying an additional 315 shares in the last quarter. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Kirby Price Performance

NYSE:KEX traded up $1.20 during mid-day trading on Friday, hitting $122.39. 248,084 shares of the company’s stock traded hands, compared to its average volume of 505,513. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.12 and a current ratio of 1.81. The company has a market cap of $7.16 billion, a PE ratio of 28.93, a price-to-earnings-growth ratio of 0.81 and a beta of 1.14. The firm’s 50 day simple moving average is $104.28 and its 200 day simple moving average is $88.82. Kirby Co. has a 1 year low of $71.21 and a 1 year high of $123.53.

Kirby (NYSE:KEXGet Free Report) last issued its quarterly earnings data on Friday, April 26th. The shipping company reported $1.19 earnings per share for the quarter, topping analysts’ consensus estimates of $0.97 by $0.22. Kirby had a net margin of 8.01% and a return on equity of 7.96%. The business had revenue of $808.00 million during the quarter, compared to analysts’ expectations of $784.49 million. During the same period last year, the company posted $0.68 EPS. The company’s revenue was up 7.7% on a year-over-year basis. Sell-side analysts expect that Kirby Co. will post 5.29 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the company. Wolfe Research initiated coverage on Kirby in a report on Monday, April 22nd. They set an “outperform” rating and a $126.00 price objective on the stock. BTIG Research increased their price target on shares of Kirby from $100.00 to $115.00 and gave the company a “buy” rating in a report on Wednesday, April 3rd. Stephens reissued an “overweight” rating and set a $105.00 price objective on shares of Kirby in a report on Monday, February 5th. StockNews.com raised shares of Kirby from a “hold” rating to a “buy” rating in a report on Tuesday, April 16th. Finally, Stifel Nicolaus upped their price target on Kirby from $131.00 to $132.00 and gave the stock a “buy” rating in a report on Tuesday, May 21st. Five equities research analysts have rated the stock with a buy rating, According to MarketBeat, the company currently has an average rating of “Buy” and an average target price of $119.50.

Check Out Our Latest Stock Analysis on Kirby

Insider Activity

In related news, VP Scott P. Miller sold 487 shares of the business’s stock in a transaction dated Thursday, April 11th. The shares were sold at an average price of $99.78, for a total value of $48,592.86. Following the completion of the transaction, the vice president now owns 1,000 shares of the company’s stock, valued at approximately $99,780. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other Kirby news, VP Scott P. Miller sold 487 shares of Kirby stock in a transaction that occurred on Thursday, April 11th. The shares were sold at an average price of $99.78, for a total value of $48,592.86. Following the completion of the sale, the vice president now directly owns 1,000 shares of the company’s stock, valued at approximately $99,780. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Dorman Lynn Strahan sold 3,423 shares of the business’s stock in a transaction on Wednesday, March 27th. The shares were sold at an average price of $95.11, for a total value of $325,561.53. Following the completion of the transaction, the insider now owns 21,054 shares of the company’s stock, valued at $2,002,445.94. The disclosure for this sale can be found here. Insiders have sold 35,479 shares of company stock worth $3,761,201 over the last three months. 1.50% of the stock is currently owned by corporate insiders.

Kirby Profile

(Free Report)

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.

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Institutional Ownership by Quarter for Kirby (NYSE:KEX)

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