84,943 Shares in World Kinect Corporation $WKC Purchased by Connor Clark & Lunn Investment Management Ltd.

Connor Clark & Lunn Investment Management Ltd. bought a new stake in shares of World Kinect Corporation (NYSE:WKC) in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor bought 84,943 shares of the company’s stock, valued at approximately $2,798,000. Connor Clark & Lunn Investment Management Ltd. owned about 0.17% of World Kinect at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also made changes to their positions in WKC. Royal Bank of Canada raised its stake in World Kinect by 2.2% in the 1st quarter. Royal Bank of Canada now owns 68,228 shares of the company’s stock valued at $1,934,000 after purchasing an additional 1,481 shares during the last quarter. AQR Capital Management LLC grew its holdings in shares of World Kinect by 16.5% during the first quarter. AQR Capital Management LLC now owns 119,198 shares of the company’s stock worth $3,380,000 after buying an additional 16,874 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. grew its holdings in shares of World Kinect by 4.6% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,972 shares of the company’s stock worth $963,000 after buying an additional 1,497 shares in the last quarter. Millennium Management LLC raised its position in shares of World Kinect by 3.3% in the first quarter. Millennium Management LLC now owns 525,697 shares of the company’s stock valued at $14,909,000 after buying an additional 16,738 shares during the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in World Kinect by 18.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 220,791 shares of the company’s stock worth $6,262,000 after acquiring an additional 34,807 shares during the last quarter. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Insider Buying and Selling at World Kinect

In other news, Chairman Michael J. Kasbar sold 10,000 shares of the stock in a transaction dated Monday, August 3rd. The shares were sold at an average price of $39.41, for a total transaction of $394,100.00. Following the sale, the chairman owned 976,450 shares of the company’s stock, valued at approximately $38,481,894.50. This represents a 1.01% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul H. Stebbins sold 33,445 shares of the firm’s stock in a transaction that occurred on Wednesday, July 29th. The shares were sold at an average price of $39.93, for a total transaction of $1,335,458.85. Following the completion of the transaction, the director directly owned 58,878 shares of the company’s stock, valued at approximately $2,350,998.54. The trade was a 36.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 124,445 shares of company stock valued at $4,455,900 over the last three months. 3.80% of the stock is currently owned by company insiders.

World Kinect Stock Down 0.6%

NYSE:WKC opened at $35.61 on Friday. World Kinect Corporation has a 52 week low of $22.21 and a 52 week high of $41.20. The stock’s fifty day moving average is $35.92 and its two-hundred day moving average is $29.59. The stock has a market capitalization of $1.82 billion, a price-to-earnings ratio of -11.09, a price-to-earnings-growth ratio of 0.55 and a beta of 1.17. The company has a quick ratio of 0.91, a current ratio of 1.06 and a debt-to-equity ratio of 0.58.

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

World Kinect Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Tuesday, June 30th were paid a dividend of $0.23 per share. This represents a $0.92 dividend on an annualized basis and a yield of 2.6%. This is a boost from World Kinect’s previous quarterly dividend of $0.20. The ex-dividend date was Tuesday, June 30th. World Kinect’s payout ratio is currently -28.66%.

Analysts Set New Price Targets

Several equities research analysts recently commented on the company. Weiss Ratings cut World Kinect from a “hold (c-)” rating to a “sell (d)” rating in a report on Tuesday, July 28th. 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 target price on World Kinect in a research note on Wednesday, July 29th. Finally, Wall Street Zen raised shares of World Kinect from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. One 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 currently has a consensus rating of “Hold” and an average price target of $30.00.

About World Kinect

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.