104,687 Shares in Kirby Corporation $KEX Acquired by Man Group plc

Key Points

• Man Group plc acquired 104,687 Kirby shares worth approximately $14.2 million, giving it a 0.20% stake. Institutional investors collectively own 96.15% of the company.
• Kirby exceeded quarterly expectations, reporting $1.67 in earnings per share and $922.4 million in revenue, up 7.8% year over year. Analysts expect about $7.07 in full-year EPS.
• Analyst sentiment remains positive, with six Buy ratings and one Hold rating, producing a “Moderate Buy” consensus and an average price target of $163.20 versus the shares’ $139.96 opening price.

Man Group plc bought a new stake in shares of Kirby Corporation (NYSE:KEX - Free Report) in the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor bought 104,687 shares of the shipping company's stock, valued at approximately $14,234,000. Man Group plc owned about 0.20% of Kirby at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in the business. Goldman Sachs Group Inc. grew its position in Kirby by 30.4% in the first quarter. Goldman Sachs Group Inc. now owns 491,355 shares of the shipping company's stock worth $49,632,000 after buying an additional 114,618 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in shares of 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 valued at $18,441,000 after acquiring an additional 110,320 shares during the last quarter. Cerity Partners LLC lifted its position in shares of Kirby by 68.6% during the 2nd quarter. Cerity Partners LLC now owns 20,096 shares of the shipping company's stock valued at $2,279,000 after acquiring an additional 8,174 shares during the last quarter. California Public Employees Retirement System boosted its stake in shares of 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 in the last quarter. Finally, NewEdge Advisors LLC grew its holdings in shares of Kirby by 52,000.0% in 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. 96.15% of the stock is currently owned by institutional investors.

Kirby Price Performance

Shares of KEX opened at $139.96 on Friday. The company has a market capitalization of $7.39 billion, a price-to-earnings ratio of 21.53, a P/E/G ratio of 1.25 and a beta of 0.84. Kirby Corporation has a fifty-two week low of $79.51 and a fifty-two week high of $157.69. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.68 and a quick ratio of 1.12. The business's 50-day moving average is $138.44 and its 200-day moving average is $137.87.

Kirby (NYSE:KEX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The shipping company reported $1.67 EPS for the quarter, topping 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 firm's quarterly revenue was up 7.8% compared to the same quarter last year. During the same period last year, the company posted $1.67 earnings per share. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. Equities research analysts expect that Kirby Corporation will post 7.07 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the company. Weiss Ratings raised Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, August 17th. Wall Street Zen cut Kirby from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Bank of America upped their price objective on shares of Kirby from $169.00 to $182.00 and gave the company a "buy" rating in a research note on Wednesday, July 8th. Evercore reiterated an "outperform" rating and issued a $158.00 target price on shares of Kirby in a report on Friday, May 1st. Finally, BTIG Research reissued a "buy" rating and issued a $170.00 target price on shares of Kirby in a research report on Wednesday, July 29th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $163.20.

Kirby Company Profile

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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