ArrowMark Colorado Holdings LLC Purchases 76,436 Shares of Kirby Co. (NYSE:KEX)

ArrowMark Colorado Holdings LLC raised its position in Kirby Co. (NYSE:KEX - Free Report) by 11.3% during the fourth quarter, according to its most recent filing with the SEC. The firm owned 754,785 shares of the shipping company's stock after purchasing an additional 76,436 shares during the period. Kirby accounts for approximately 1.1% of ArrowMark Colorado Holdings LLC's portfolio, making the stock its 29th largest position. ArrowMark Colorado Holdings LLC owned 1.31% of Kirby worth $79,856,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of KEX. Wellington Management Group LLP raised its holdings in shares of Kirby by 1.6% during the fourth quarter. Wellington Management Group LLP now owns 1,762,651 shares of the shipping company's stock valued at $186,488,000 after purchasing an additional 28,259 shares during the period. First Trust Advisors LP boosted its holdings in Kirby by 69.7% in the fourth quarter. First Trust Advisors LP now owns 876,292 shares of the shipping company's stock worth $92,712,000 after acquiring an additional 359,770 shares in the last quarter. Norges Bank acquired a new stake in Kirby in the fourth quarter valued at approximately $74,293,000. Victory Capital Management Inc. lifted its holdings in shares of Kirby by 10.2% in the 4th quarter. Victory Capital Management Inc. now owns 525,708 shares of the shipping company's stock worth $55,620,000 after purchasing an additional 48,475 shares in the last quarter. Finally, Northern Trust Corp increased its stake in Kirby by 10.2% during the 4th quarter. Northern Trust Corp now owns 518,255 shares of the shipping company's stock valued at $54,831,000 after purchasing an additional 47,895 shares in the last quarter. 96.15% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Kirby news, VP Scott P. Miller sold 1,244 shares of Kirby stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $107.61, for a total transaction of $133,866.84. Following the completion of the sale, the vice president now directly owns 5,545 shares in the company, valued at $596,697.45. The trade was a 18.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 0.90% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

A number of research analysts have recently weighed in on the company. StockNews.com lowered Kirby from a "buy" rating to a "hold" rating in a report on Thursday, January 9th. Bank of America reduced their target price on shares of Kirby from $133.00 to $123.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Finally, Stifel Nicolaus cut their price target on shares of Kirby from $136.00 to $135.00 and set a "buy" rating on the stock in a report on Friday, January 31st.

Kirby Stock Performance

Shares of NYSE KEX traded down $2.29 during trading on Tuesday, reaching $102.24. 463,421 shares of the stock traded hands, compared to its average volume of 539,602. The company has a 50-day moving average of $97.72 and a 200-day moving average of $108.44. Kirby Co. has a 52-week low of $83.94 and a 52-week high of $132.21. The stock has a market capitalization of $5.82 billion, a P/E ratio of 20.82, a price-to-earnings-growth ratio of 0.88 and a beta of 0.91. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.05.

Kirby (NYSE:KEX - Get Free Report) last posted its earnings results on Thursday, May 1st. The shipping company reported $1.33 earnings per share for the quarter, topping the consensus estimate of $1.27 by $0.06. Kirby had a net margin of 8.78% and a return on equity of 9.71%. The firm had revenue of $785.66 million during the quarter, compared to the consensus estimate of $824.12 million. During the same quarter last year, the company earned $1.19 earnings per share. The company's revenue was down 2.8% on a year-over-year basis. Analysts forecast that Kirby Co. will post 6.57 EPS for the current fiscal year.

Kirby Company Profile

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.