Royal Bank of Canada Has $7.58 Million Position in World Kinect Corporation $WKC

Royal Bank of Canada lifted its position in World Kinect Corporation (NYSE:WKC) by 30.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 328,662 shares of the company’s stock after acquiring an additional 76,657 shares during the period. Royal Bank of Canada owned approximately 0.64% of World Kinect worth $7,583,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also bought and sold shares of WKC. Cassaday & Co Wealth Management LLC bought a new stake in World Kinect in the first quarter valued at approximately $37,000. Aquatic Capital Management LLC acquired a new position in shares of World Kinect in the 3rd quarter valued at $61,000. Aster Capital Management DIFC Ltd grew its holdings in shares of World Kinect by 977.9% in the 4th quarter. Aster Capital Management DIFC Ltd now owns 2,630 shares of the company’s stock valued at $62,000 after buying an additional 2,386 shares during the period. Clearstead Advisors LLC increased its position in shares of World Kinect by 108.8% in the 4th quarter. Clearstead Advisors LLC now owns 2,633 shares of the company’s stock valued at $62,000 after buying an additional 1,372 shares in the last quarter. Finally, Raymond James Financial Inc. bought a new stake in shares of World Kinect in the 2nd quarter valued at $96,000. Institutional investors own 97.06% of the company’s stock.

Insider Transactions at World Kinect

In related news, Chairman Michael J. Kasbar sold 25,000 shares of the business’s stock in a transaction that occurred on Friday, July 10th. The stock was sold at an average price of $35.04, for a total transaction of $876,000.00. Following the transaction, the chairman directly owned 986,450 shares of the company’s stock, valued at approximately $34,565,208. The trade was a 2.47% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul H. Stebbins sold 33,445 shares of the stock in a transaction on Wednesday, July 29th. The shares were sold at an average price of $39.93, for a total value of $1,335,458.85. Following the completion of the sale, the director owned 58,878 shares in the company, valued at approximately $2,350,998.54. This trade represents a 36.23% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 118,445 shares of company stock worth $4,232,940. 3.80% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several research analysts have weighed in on the company. Wall Street Zen upgraded World Kinect from a “buy” rating to a “strong-buy” rating in a report on Saturday, August 1st. Zacks Research upgraded World Kinect from a “hold” rating to a “strong-buy” rating in a report on Wednesday, July 22nd. Morgan Stanley set a $30.00 price target on World Kinect in a research report on Wednesday, July 29th. Finally, Weiss Ratings cut World Kinect from a “hold (c-)” rating to a “sell (d)” rating in a report on Tuesday, July 28th. One investment analyst has rated the stock with a Strong Buy rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $30.00.

World Kinect Stock Up 1.7%

Shares of WKC stock opened at $37.04 on Tuesday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.91 and a current ratio of 1.06. The firm’s 50-day moving average is $34.39 and its 200-day moving average is $28.69. The stock has a market cap of $1.89 billion, a price-to-earnings ratio of -11.54, a PEG ratio of 0.56 and a beta of 1.17. World Kinect Corporation has a 52-week low of $22.21 and a 52-week high of $41.20.

World Kinect (NYSE:WKC) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $1.29 EPS for the quarter, topping analysts’ consensus estimates of $0.75 by $0.54. The business had revenue of $13.59 billion during the quarter, compared to analysts’ expectations of $10.50 billion. World Kinect had a positive return on equity of 11.24% and a negative net margin of 0.43%.World Kinect’s quarterly revenue was up 50.3% on a year-over-year basis. During the same quarter last year, the company posted $0.59 earnings per share. World Kinect has set its FY 2026 guidance at 3.200-3.400 EPS. Sell-side analysts predict that World Kinect Corporation will post 3.6 EPS for the current year.

World Kinect Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.5%. This is an increase from World Kinect’s previous quarterly dividend of $0.20. World Kinect’s dividend payout ratio is presently -28.66%.

World Kinect Profile

World Kinect Energy Services, Inc (NYSE: WKC) is a global energy services company specializing in fuel procurement, supply chain management and risk mitigation solutions. The company offers an integrated platform that facilitates the sourcing, trading and logistics of refined fuels, natural gas, liquefied natural gas (LNG) and renewable energy products. Its services are designed to help industrial, commercial and institutional clients optimize energy costs, comply with environmental regulations and manage price volatility.

In addition to traditional commodity trading and delivery, World Kinect provides a suite of value-added services that include carbon offset and decarbonization strategies, energy efficiency consulting and emissions reporting.