XTX Topco Ltd Increases Stock Holdings in Kirby Corporation $KEX

XTX Topco Ltd increased its position in Kirby Corporation (NYSE:KEX) by 13.0% in the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 11,253 shares of the shipping company’s stock after acquiring an additional 1,297 shares during the quarter. XTX Topco Ltd’s holdings in Kirby were worth $1,276,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors have also bought and sold shares of the company. Ethic Inc. boosted its holdings in Kirby by 3.1% in the 2nd quarter. Ethic Inc. now owns 3,236 shares of the shipping company’s stock valued at $372,000 after purchasing an additional 98 shares during the period. Brooklyn Investment Group increased its holdings in shares of Kirby by 40.7% in the first quarter. Brooklyn Investment Group now owns 394 shares of the shipping company’s stock worth $40,000 after purchasing an additional 114 shares during the period. Bell Investment Advisors Inc raised its position in shares of Kirby by 67.1% in the second quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company’s stock worth $32,000 after buying an additional 114 shares in the last quarter. Parallel Advisors LLC boosted its stake in Kirby by 49.4% during the second quarter. Parallel Advisors LLC now owns 366 shares of the shipping company’s stock valued at $42,000 after buying an additional 121 shares during the period. Finally, Hantz Financial Services Inc. grew its position in Kirby by 38.1% during the second quarter. Hantz Financial Services Inc. now owns 453 shares of the shipping company’s stock worth $51,000 after buying an additional 125 shares in the last quarter. Institutional investors own 96.15% of the company’s stock.

Wall Street Analysts Forecast Growth

Several analysts have weighed in on KEX shares. Citigroup raised Kirby from a “neutral” rating to a “buy” rating and raised their price target for the company from $110.00 to $128.00 in a report on Wednesday, November 5th. Zacks Research raised shares of Kirby from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 3rd. Evercore ISI lifted their price objective on shares of Kirby from $109.00 to $122.00 and gave the stock an “outperform” rating in a report on Thursday, October 30th. Weiss Ratings reiterated a “hold (c+)” rating on shares of Kirby in a research report on Wednesday, October 8th. Finally, BTIG Research restated a “buy” rating and set a $125.00 price target on shares of Kirby in a research report on Thursday, September 18th. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $123.40.

Kirby Price Performance

Shares of NYSE:KEX opened at $113.56 on Friday. The company has a quick ratio of 1.12, a current ratio of 1.74 and a debt-to-equity ratio of 0.33. The stock has a market cap of $6.16 billion, a PE ratio of 21.07, a PEG ratio of 1.05 and a beta of 1.05. The company’s fifty day moving average is $95.15 and its 200 day moving average is $102.10. Kirby Corporation has a 52 week low of $79.51 and a 52 week high of $127.57.

Kirby (NYSE:KEX) last posted its quarterly earnings results on Wednesday, October 29th. The shipping company reported $1.65 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.60 by $0.05. The business had revenue of $871.16 million during the quarter, compared to analyst estimates of $843.29 million. Kirby had a net margin of 9.22% and a return on equity of 10.06%. The company’s revenue was up 4.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.55 earnings per share. Research analysts anticipate that Kirby Corporation will post 6.57 earnings per share for the current year.

Insider Buying and Selling

In other news, VP Amy D. Husted sold 10,413 shares of the stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $107.42, for a total transaction of $1,118,564.46. Following the completion of the sale, the vice president owned 11,760 shares of the company’s stock, valued at approximately $1,263,259.20. This represents a 46.96% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, VP Ronald A. Dragg sold 2,715 shares of the firm’s stock in a transaction that occurred on Wednesday, November 12th. The stock was sold at an average price of $110.29, for a total transaction of $299,437.35. Following the completion of the transaction, the vice president owned 10,325 shares in the company, valued at $1,138,744.25. This represents a 20.82% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 44,502 shares of company stock valued at $4,788,691 in the last 90 days. 0.90% of the stock is owned by insiders.

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.