Wellington Management Group LLP reduced its stake in Kirby Corporation (NYSE:KEX – Free Report) by 27.0% during the 2nd quarter, Holdings Channel reports. The fund owned 1,150,107 shares of the shipping company’s stock after selling 425,386 shares during the quarter. Wellington Management Group LLP’s holdings in Kirby were worth $156,380,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Goldman Sachs Group Inc. raised its position in Kirby by 30.4% in the 1st quarter. Goldman Sachs Group Inc. now owns 491,355 shares of the shipping company’s stock valued at $49,632,000 after purchasing an additional 114,618 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in shares of Kirby by 152.7% during the first 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 buying an additional 110,320 shares in the last quarter. Cerity Partners LLC increased its stake in shares of Kirby by 68.6% during the second quarter. Cerity Partners LLC now owns 20,096 shares of the shipping company’s stock worth $2,279,000 after buying an additional 8,174 shares during the period. California Public Employees Retirement System raised its holdings in Kirby by 3.5% in the second quarter. California Public Employees Retirement System now owns 96,565 shares of the shipping company’s stock valued at $10,951,000 after acquiring an additional 3,292 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in Kirby by 52,000.0% in the second quarter. NewEdge Advisors LLC now owns 2,084 shares of the shipping company’s stock valued at $236,000 after acquiring an additional 2,080 shares in the last quarter. 96.15% of the stock is currently owned by hedge funds and other institutional investors.
Analyst Ratings Changes
Several research analysts have commented on the stock. Weiss Ratings upgraded shares of Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a report on Monday, August 17th. BTIG Research restated a “buy” rating and issued a $170.00 price objective on shares of Kirby in a report on Wednesday, July 29th. Bank of America lifted their price objective on shares of Kirby from $169.00 to $182.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Wall Street Zen lowered Kirby from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Finally, Citigroup raised their price target on Kirby from $165.00 to $170.00 and gave the company a “buy” rating in a research note on Friday, July 31st. Six equities research analysts have rated the stock with a Buy rating and one has given a Hold rating to the company’s stock. According to MarketBeat, the company has an average rating of “Moderate Buy” and a consensus price target of $163.20.
Kirby Stock Up 1.9%
KEX stock opened at $141.73 on Tuesday. The stock has a market cap of $7.48 billion, a P/E ratio of 21.80, a PEG ratio of 1.25 and a beta of 0.84. The company has a current ratio of 1.68, a quick ratio of 1.12 and a debt-to-equity ratio of 0.30. Kirby Corporation has a twelve month low of $79.51 and a twelve month high of $157.69. The company’s 50 day moving average is $138.42 and its two-hundred day moving average is $138.15.
Kirby (NYSE:KEX – Get Free Report) last issued its earnings results on Wednesday, July 29th. The shipping company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.04. The business had revenue of $922.40 million during the quarter, compared to analysts’ expectations of $870.38 million. Kirby had a net margin of 10.18% and a return on equity of 10.44%. The company’s revenue for the quarter was up 7.8% on a year-over-year basis. During the same quarter in the prior year, the business posted $1.67 EPS. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. Research analysts expect that Kirby Corporation will post 7.07 earnings per share for the current fiscal year.
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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