EverSource Wealth Advisors LLC Buys New Position in Kirby Co. (NYSE:KEX)

EverSource Wealth Advisors LLC bought a new stake in shares of Kirby Co. (NYSE:KEX) in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm bought 4,210 shares of the shipping company’s stock, valued at approximately $401,000.

Several other large investors have also bought and sold shares of the company. CANADA LIFE ASSURANCE Co boosted its position in shares of Kirby by 0.4% in the 1st quarter. CANADA LIFE ASSURANCE Co now owns 29,299 shares of the shipping company’s stock valued at $2,792,000 after purchasing an additional 108 shares during the period. Fifth Third Bancorp boosted its holdings in shares of Kirby by 28.1% in the first quarter. Fifth Third Bancorp now owns 551 shares of the shipping company’s stock worth $53,000 after buying an additional 121 shares during the period. Janney Montgomery Scott LLC increased its position in shares of Kirby by 1.2% in the first quarter. Janney Montgomery Scott LLC now owns 10,369 shares of the shipping company’s stock worth $988,000 after acquiring an additional 122 shares in the last quarter. Orion Portfolio Solutions LLC raised its holdings in shares of Kirby by 0.7% during the fourth quarter. Orion Portfolio Solutions LLC now owns 17,847 shares of the shipping company’s stock valued at $1,388,000 after acquiring an additional 124 shares during the period. Finally, 1832 Asset Management L.P. lifted its position in shares of Kirby by 56.1% in the 1st quarter. 1832 Asset Management L.P. now owns 398 shares of the shipping company’s stock valued at $38,000 after acquiring an additional 143 shares in the last quarter. Institutional investors own 96.15% of the company’s stock.

Kirby Stock Down 3.3 %

Shares of NYSE KEX traded down $3.72 during mid-day trading on Friday, reaching $109.98. The company had a trading volume of 744,760 shares, compared to its average volume of 551,399. Kirby Co. has a twelve month low of $72.11 and a twelve month high of $130.90. 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 stock has a market capitalization of $6.44 billion, a PE ratio of 26.00, a price-to-earnings-growth ratio of 0.70 and a beta of 1.18. The stock’s 50 day moving average is $120.33 and its 200-day moving average is $103.71.

Kirby (NYSE:KEX) last posted its quarterly earnings results on Thursday, August 1st. The shipping company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.11. Kirby had a net margin of 8.72% and a return on equity of 8.75%. The business had revenue of $824.40 million for the quarter, compared to the consensus estimate of $821.65 million. During the same period in the prior year, the business posted $0.95 earnings per share. Kirby’s revenue for the quarter was up 6.1% compared to the same quarter last year. As a group, equities analysts anticipate that Kirby Co. will post 5.3 earnings per share for the current fiscal year.

Insider Transactions at Kirby

In other news, CEO David W. Grzebinski sold 3,000 shares of the company’s stock in a transaction on Wednesday, June 26th. The shares were sold at an average price of $120.31, for a total value of $360,930.00. Following the transaction, the chief executive officer now directly owns 63,399 shares of the company’s stock, valued at $7,627,533.69. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other Kirby news, Director William M. Waterman sold 10,000 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $114.51, for a total transaction of $1,145,100.00. Following the transaction, the director now directly owns 77,316 shares of the company’s stock, valued at $8,853,455.16. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, CEO David W. Grzebinski sold 3,000 shares of the stock in a transaction on Wednesday, June 26th. The stock was sold at an average price of $120.31, for a total transaction of $360,930.00. Following the transaction, the chief executive officer now directly owns 63,399 shares in the company, valued at $7,627,533.69. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 28,893 shares of company stock valued at $3,412,856. 1.50% of the stock is owned by insiders.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on the stock. Stifel Nicolaus lifted their price objective on shares of Kirby from $131.00 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Wolfe Research initiated coverage on shares of Kirby in a research note on Monday, April 22nd. They set an “outperform” rating and a $126.00 target price on the stock. Bank of America boosted their target price on shares of Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a research note on Tuesday, July 23rd. Finally, StockNews.com raised shares of Kirby from a “hold” rating to a “buy” rating in a research note on Tuesday, April 16th. Six equities research analysts have rated the stock with a buy rating, According to MarketBeat.com, the stock presently has a consensus rating of “Buy” and a consensus target price of $123.80.

About Kirby

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.