Geode Capital Management LLC lowered its position in shares of Kirby Corporation (NYSE:KEX – Free Report) by 0.8% during the fourth quarter, HoldingsChannel reports. The fund owned 976,732 shares of the shipping company’s stock after selling 8,169 shares during the quarter. Geode Capital Management LLC’s holdings in Kirby were worth $107,647,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also bought and sold shares of KEX. Goldman Sachs Group Inc. grew its position in Kirby by 30.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 491,355 shares of the shipping company’s stock worth $49,632,000 after acquiring an additional 114,618 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in Kirby by 152.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,565 shares of the shipping company’s stock worth $18,441,000 after acquiring an additional 110,320 shares during the last quarter. Cerity Partners LLC grew its position in Kirby by 68.6% during the 2nd quarter. Cerity Partners LLC now owns 20,096 shares of the shipping company’s stock worth $2,279,000 after acquiring an additional 8,174 shares during the last quarter. California Public Employees Retirement System grew its position in Kirby by 3.5% during the 2nd quarter. California Public Employees Retirement System now owns 96,565 shares of the shipping company’s stock worth $10,951,000 after acquiring an additional 3,292 shares during the last quarter. Finally, NewEdge Advisors LLC grew its position in Kirby by 52,000.0% during the 2nd quarter. NewEdge Advisors LLC now owns 2,084 shares of the shipping company’s stock worth $236,000 after acquiring an additional 2,080 shares during the last quarter. Institutional investors own 96.15% of the company’s stock.
Wall Street Analyst Weigh In
A number of brokerages recently weighed in on KEX. Zacks Research upgraded Kirby from a “strong sell” rating to a “hold” rating in a research report on Friday, March 13th. Weiss Ratings upgraded Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, May 29th. Citigroup upped their price target on Kirby from $147.00 to $160.00 and gave the company a “buy” rating in a research report on Thursday, April 9th. Evercore reiterated an “outperform” rating and issued a $158.00 price target on shares of Kirby in a research report on Friday, May 1st. Finally, Wall Street Zen lowered Kirby from a “buy” rating to a “hold” rating in a research report on Saturday, May 23rd. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to data from MarketBeat, Kirby currently has an average rating of “Moderate Buy” and an average target price of $146.20.
Kirby Trading Down 1.1%
NYSE KEX opened at $141.09 on Friday. The business’s 50-day moving average price is $143.14 and its two-hundred day moving average price is $128.48. Kirby Corporation has a 12 month low of $79.51 and a 12 month high of $157.69. The firm has a market capitalization of $7.55 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 1.46 and a beta of 0.81. The company has a current ratio of 1.59, a quick ratio of 1.01 and a debt-to-equity ratio of 0.29.
Kirby (NYSE:KEX – Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The shipping company reported $1.50 EPS for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09. Kirby had a return on equity of 10.62% and a net margin of 10.51%.The firm had revenue of $844.10 million for the quarter, compared to analyst estimates of $832.57 million. During the same quarter in the previous year, the company posted $1.33 EPS. The business’s revenue was up 7.4% on a year-over-year basis. Kirby has set its FY 2026 guidance at 6.650-7.280 EPS. On average, analysts expect that Kirby Corporation will post 6.99 EPS for the current year.
Insiders Place Their Bets
In other news, VP Ronald A. Dragg sold 1,726 shares of the business’s stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $145.01, for a total value of $250,287.26. Following the transaction, the vice president directly owned 8,673 shares of the company’s stock, valued at $1,257,671.73. The trade was a 16.60% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Amy D. Husted sold 4,000 shares of the business’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $145.43, for a total value of $581,720.00. Following the completion of the transaction, the vice president directly owned 10,814 shares in the company, valued at $1,572,680.02. This represents a 27.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 17,691 shares of company stock valued at $2,579,036 over the last 90 days. 0.80% of the stock is owned by company insiders.
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.
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