Vanguard Group Inc. Has $472.98 Million Holdings in Kirby Corporation $KEX

Vanguard Group Inc. lifted its position in shares of Kirby Corporation (NYSE:KEX) by 2.4% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 5,667,853 shares of the shipping company’s stock after purchasing an additional 134,261 shares during the quarter. Vanguard Group Inc. owned 10.16% of Kirby worth $472,982,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of KEX. Ethic Inc. increased its stake in Kirby by 3.1% during 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 in the last quarter. Bell Investment Advisors Inc increased its position in shares of Kirby by 67.1% during the second quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company’s stock worth $32,000 after acquiring an additional 114 shares in the last quarter. State of Wyoming raised its holdings in shares of Kirby by 12.8% in the 3rd quarter. State of Wyoming now owns 1,003 shares of the shipping company’s stock worth $84,000 after acquiring an additional 114 shares during the last quarter. Hantz Financial Services Inc. lifted its position in Kirby by 38.1% in the 2nd quarter. Hantz Financial Services Inc. now owns 453 shares of the shipping company’s stock valued at $51,000 after acquiring an additional 125 shares in the last quarter. Finally, Wedbush Securities Inc. boosted its stake in Kirby by 4.5% during the 2nd quarter. Wedbush Securities Inc. now owns 2,946 shares of the shipping company’s stock valued at $334,000 after purchasing an additional 128 shares during the last quarter. 96.15% of the stock is currently owned by institutional investors.

Kirby Trading Down 0.1%

Shares of KEX stock opened at $130.13 on Thursday. Kirby Corporation has a 12-month low of $79.51 and a 12-month high of $132.18. The company has a quick ratio of 0.96, a current ratio of 1.53 and a debt-to-equity ratio of 0.27. The company has a 50 day moving average of $121.55 and a 200-day moving average of $105.42. The firm has a market cap of $6.98 billion, a P/E ratio of 20.56, a PEG ratio of 1.17 and a beta of 0.88.

Kirby (NYSE:KEX) last released its earnings results on Thursday, January 29th. The shipping company reported $1.68 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.62 by $0.06. Kirby had a return on equity of 10.53% and a net margin of 10.54%.The business had revenue of $851.78 million during the quarter, compared to the consensus estimate of $857.82 million. During the same period last year, the business posted $1.29 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. Sell-side analysts anticipate that Kirby Corporation will post 6.57 earnings per share for the current year.

Insider Buying and Selling

In related news, COO Christian G. O’neil sold 11,145 shares of the company’s stock in a transaction that occurred on Monday, December 22nd. The shares were sold at an average price of $111.68, for a total transaction of $1,244,673.60. Following the sale, the chief operating officer directly owned 14,835 shares in the company, valued at approximately $1,656,772.80. This represents a 42.90% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP William Matthew Woodruff sold 2,000 shares of the firm’s stock in a transaction that occurred on Monday, February 9th. The stock was sold at an average price of $121.88, for a total transaction of $243,760.00. Following the completion of the transaction, the vice president directly owned 687 shares of the company’s stock, valued at approximately $83,731.56. This trade represents a 74.43% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 35,701 shares of company stock worth $4,308,738 in the last quarter. 0.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on KEX. Evercore raised their target price on Kirby from $109.00 to $122.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Wolfe Research restated an “outperform” rating and set a $136.00 price objective on shares of Kirby in a research note on Friday, January 30th. Weiss Ratings upgraded shares of Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Wednesday, February 18th. Citigroup raised their price target on shares of Kirby from $145.00 to $147.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Finally, Zacks Research downgraded shares of Kirby from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 12th. Six research analysts have rated the stock with a Buy rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average price target of $129.40.

About Kirby

Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America’s largest fleets of inland tank barges and towing vessels. Kirby’s fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.

In addition to its marine operations, Kirby’s Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.