Kirby Co. (NYSE:KEX) Shares Sold by ArrowMark Colorado Holdings LLC

ArrowMark Colorado Holdings LLC trimmed its holdings in shares of Kirby Co. (NYSE:KEX) by 11.6% during the third quarter, Holdings Channel reports. The firm owned 678,349 shares of the shipping company’s stock after selling 89,287 shares during the quarter. Kirby comprises 1.1% of ArrowMark Colorado Holdings LLC’s portfolio, making the stock its 28th largest holding. ArrowMark Colorado Holdings LLC’s holdings in Kirby were worth $83,050,000 as of its most recent filing with the SEC.

Other large investors also recently modified their holdings of the company. Farther Finance Advisors LLC lifted its stake in Kirby by 420.0% in the third quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock valued at $25,000 after buying an additional 168 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in shares of Kirby in the 2nd quarter worth about $26,000. ORG Wealth Partners LLC bought a new stake in Kirby in the 3rd quarter valued at about $30,000. ORG Partners LLC acquired a new position in Kirby during the 2nd quarter valued at about $32,000. Finally, Opal Wealth Advisors LLC bought a new position in Kirby in the 2nd quarter worth about $33,000. 96.15% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other Kirby news, COO Christian G. O’neil sold 15,041 shares of Kirby stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $130.00, for a total value of $1,955,330.00. Following the completion of the sale, the chief operating officer now directly owns 7,746 shares in the company, valued at $1,006,980. The trade was a 66.01 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Amy D. Husted sold 2,853 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $126.54, for a total transaction of $361,018.62. Following the transaction, the vice president now directly owns 5,280 shares in the company, valued at $668,131.20. The trade was a 35.08 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 68,596 shares of company stock valued at $8,541,440. Company insiders own 1.50% of the company’s stock.

Wall Street Analyst Weigh In

Separately, StockNews.com downgraded Kirby from a “buy” rating to a “hold” rating in a research report on Sunday, September 22nd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has an average rating of “Moderate Buy” and a consensus price target of $123.80.

Kirby Stock Up 0.1 %

KEX opened at $126.51 on Monday. Kirby Co. has a one year low of $72.11 and a one year high of $132.21. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.67. The company has a market capitalization of $7.26 billion, a PE ratio of 24.28, a P/E/G ratio of 0.75 and a beta of 1.17. The stock’s fifty day moving average is $124.16 and its 200-day moving average is $120.92.

Kirby (NYSE:KEX) last issued its earnings results on Wednesday, October 30th. The shipping company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08. Kirby had a return on equity of 9.43% and a net margin of 9.37%. The business had revenue of $831.10 million for the quarter, compared to analysts’ expectations of $824.42 million. During the same period in the previous year, the firm posted $1.05 EPS. The company’s quarterly revenue was up 8.7% on a year-over-year basis. On average, equities analysts predict that Kirby Co. will post 5.45 EPS for the current fiscal year.

Kirby Company Profile

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.