Allspring Global Investments Holdings LLC Has $26.98 Million Holdings in Kirby Corporation (NYSE:KEX)

Allspring Global Investments Holdings LLC grew its position in Kirby Corporation (NYSE:KEX - Free Report) by 19.9% in the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 265,540 shares of the shipping company's stock after buying an additional 44,080 shares during the quarter. Allspring Global Investments Holdings LLC owned 0.47% of Kirby worth $26,982,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in the company. Colonial Trust Co SC grew its position in Kirby by 295.3% in the fourth quarter. Colonial Trust Co SC now owns 253 shares of the shipping company's stock valued at $27,000 after acquiring an additional 189 shares during the last quarter. Opal Wealth Advisors LLC acquired a new stake in shares of Kirby in the 1st quarter valued at approximately $28,000. UMB Bank n.a. grew its holdings in shares of Kirby by 147.2% during the 1st quarter. UMB Bank n.a. now owns 351 shares of the shipping company's stock valued at $35,000 after purchasing an additional 209 shares during the last quarter. Versant Capital Management Inc acquired a new position in Kirby during the 1st quarter worth approximately $44,000. Finally, LGT Financial Advisors LLC bought a new position in Kirby in the 4th quarter valued at approximately $63,000. Institutional investors own 96.15% of the company's stock.

Analysts Set New Price Targets

Separately, Bank of America upped their price target on shares of Kirby from $116.00 to $125.00 and gave the stock a "buy" rating in a report on Friday, May 16th.

Kirby Trading Down 0.4%

Shares of Kirby stock traded down $0.49 on Thursday, hitting $116.90. The stock had a trading volume of 527,752 shares, compared to its average volume of 545,263. The stock has a 50 day moving average of $109.29 and a 200 day moving average of $104.95. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.96 and a current ratio of 1.58. Kirby Corporation has a twelve month low of $83.94 and a twelve month high of $132.21. The firm has a market capitalization of $6.56 billion, a P/E ratio of 23.15, a PEG ratio of 1.05 and a beta of 0.96.

Kirby (NYSE:KEX - Get Free Report) last issued its quarterly earnings results on Thursday, May 1st. The shipping company reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.06. Kirby had a net margin of 9.02% and a return on equity of 9.81%. The company had revenue of $785.66 million for the quarter, compared to analyst estimates of $824.12 million. During the same quarter in the previous year, the business earned $1.19 earnings per share. Kirby's revenue was down 2.8% compared to the same quarter last year. Sell-side analysts expect that Kirby Corporation will post 6.57 earnings per share for the current fiscal year.

About Kirby

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.