43,832 Kirby Corporation $KEX Shares Acquired by Assenagon Asset Management S.A.

Key Points

• Assenagon Asset Management increased its Kirby stake by 16.2%, acquiring 43,832 additional shares to own 314,208 shares valued at approximately $41.24 million. Institutional investors collectively hold 96.15% of Kirby’s stock.
• Kirby reported quarterly revenue of $922.4 million and earnings of $1.67 per share, exceeding analyst expectations, while revenue increased 7.8% year over year.
• Analyst sentiment remains positive, with seven Buy ratings and one Hold rating; the stock has a “Moderate Buy” consensus and an average price target of $169.17 versus its reported price of $136.18.

Assenagon Asset Management S.A. boosted its position in Kirby Corporation (NYSE:KEX - Free Report) by 16.2% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 314,208 shares of the shipping company's stock after acquiring an additional 43,832 shares during the quarter. Assenagon Asset Management S.A. owned 0.60% of Kirby worth $41,240,000 at the end of the most recent quarter.

A number of other institutional investors also recently added to or reduced their stakes in the company. Curated Wealth Partners LLC purchased a new stake in shares of Kirby in the 3rd quarter valued at approximately $231,000. Krilogy Financial LLC lifted its position in shares of Kirby by 9.8% during the 3rd quarter. Krilogy Financial LLC now owns 4,725 shares of the shipping company's stock worth $642,000 after purchasing an additional 421 shares during the last quarter. Farther Finance Advisors LLC lifted its position in shares of Kirby by 127.6% during the 3rd quarter. Farther Finance Advisors LLC now owns 1,409 shares of the shipping company's stock worth $185,000 after purchasing an additional 790 shares during the last quarter. Congress Asset Management Co. lifted its position in shares of Kirby by 8.2% during the 3rd quarter. Congress Asset Management Co. now owns 761,099 shares of the shipping company's stock worth $99,894,000 after purchasing an additional 57,371 shares during the last quarter. Finally, Sequoia Financial Advisors LLC grew its stake in shares of Kirby by 8.3% during the second quarter. Sequoia Financial Advisors LLC now owns 4,679 shares of the shipping company's stock worth $636,000 after purchasing an additional 357 shares in the last quarter. Hedge funds and other institutional investors own 96.15% of the company's stock.

Kirby Stock Down 0.7%

KEX stock opened at $136.18 on Friday. The company has a market cap of $7.19 billion, a price-to-earnings ratio of 20.95, a price-to-earnings-growth ratio of 1.22 and a beta of 0.84. The company has a fifty day moving average price of $137.25 and a 200 day moving average price of $139.95. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.68 and a quick ratio of 1.12. Kirby Corporation has a 12 month low of $84.05 and a 12 month high of $157.69.

Kirby (NYSE:KEX - Get Free Report) last posted its quarterly earnings data on Wednesday, July 29th. The shipping company reported $1.67 EPS for the quarter, beating the consensus estimate of $1.63 by $0.04. Kirby had a return on equity of 10.44% and a net margin of 10.18%. The firm had revenue of $922.40 million during the quarter, compared to the consensus estimate of $870.38 million. During the same period in the prior year, the business earned $1.67 EPS. The firm's revenue was up 7.8% compared to the same quarter last year. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. Sell-side analysts expect that Kirby Corporation will post 7.10 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research firms recently commented on KEX. Bank of America increased their target price on Kirby from $169.00 to $182.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. BTIG Research reaffirmed a "buy" rating and set a $170.00 price objective on shares of Kirby in a research report on Wednesday, July 29th. Citigroup lowered their price objective on Kirby from $170.00 to $169.00 and set a "buy" rating for the company in a research report on Thursday, October 8th. Weiss Ratings upgraded Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, September 14th. Finally, JPMorgan Chase & Co. began coverage on Kirby in a research report on Wednesday. They set an "overweight" rating and a $200.00 target price on the stock. Seven analysts have rated the stock with a Buy rating and one has given a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $169.17.

About Kirby

Kirby Corporation is a marine transportation and engine-services company headquartered in Houston, Texas. Founded in 1921, the company operates primarily in the United States and is one of the largest domestic operators of tank barges.

Through its marine transportation business, Kirby transports bulk liquid products on the nation's inland waterway system and along the U.S. coast. Its cargoes include refined petroleum products, petrochemicals, black oil, agricultural chemicals and other specialty liquids.

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