Kirby Corporation $KEX Shares Bought by Amundi

Key Points

• Amundi increased its holdings in Kirby Corporation (NYSE:KEX) by 44.6% in the first quarter, totaling approximately $2.74 million with 29,504 shares owned.
• Multiple institutional investors also raised their stakes, with Select Equity Group L.P. increasing its holdings by 59.0% in the fourth quarter.
• Kirby reported strong earnings of $1.67 per share for the last quarter, exceeding analysts' expectations, and its quarterly revenue rose 3.8% year-over-year.

Amundi grew its holdings in Kirby Corporation (NYSE:KEX - Free Report) by 44.6% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 29,504 shares of the shipping company's stock after acquiring an additional 9,105 shares during the period. Amundi owned about 0.05% of Kirby worth $2,741,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors have also modified their holdings of the company. Deutsche Bank AG grew its stake in Kirby by 2,655.4% during the 4th quarter. Deutsche Bank AG now owns 46,897 shares of the shipping company's stock worth $4,962,000 after purchasing an additional 45,195 shares in the last quarter. Focus Partners Wealth grew its position in shares of Kirby by 35.3% during the fourth quarter. Focus Partners Wealth now owns 3,624 shares of the shipping company's stock worth $383,000 after buying an additional 945 shares in the last quarter. Gotham Asset Management LLC acquired a new position in shares of Kirby during the fourth quarter worth about $1,061,000. Jefferies Financial Group Inc. grew its position in shares of Kirby by 66.1% during the fourth quarter. Jefferies Financial Group Inc. now owns 6,052 shares of the shipping company's stock worth $640,000 after buying an additional 2,408 shares in the last quarter. Finally, Lazard Asset Management LLC grew its holdings in Kirby by 59.9% during the 4th quarter. Lazard Asset Management LLC now owns 11,463 shares of the shipping company's stock worth $1,211,000 after acquiring an additional 4,294 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company's stock.

Analysts Set New Price Targets

KEX has been the subject of several analyst reports. Bank of America lowered their price target on shares of Kirby from $110.00 to $107.00 and set a "buy" rating for the company in a report on Wednesday, September 3rd. Zacks Research upgraded shares of Kirby from a "strong sell" rating to a "hold" rating in a research note on Wednesday, September 3rd. Two analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to data from MarketBeat, Kirby currently has an average rating of "Moderate Buy" and an average price target of $121.00.

Kirby Stock Performance

NYSE KEX traded down $1.92 during trading hours on Wednesday, hitting $82.66. The company had a trading volume of 1,058,949 shares, compared to its average volume of 948,703. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.12 and a current ratio of 1.74. Kirby Corporation has a 1-year low of $82.55 and a 1-year high of $132.21. The company has a market cap of $4.61 billion, a PE ratio of 15.63, a price-to-earnings-growth ratio of 0.86 and a beta of 1.09. The business has a 50 day moving average of $101.34 and a 200-day moving average of $103.33.

Kirby (NYSE:KEX - Get Free Report) last announced its earnings results on Thursday, July 31st. The shipping company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.59 by $0.08. The firm had revenue of $855.46 million during the quarter, compared to analysts' expectations of $851.94 million. Kirby had a return on equity of 10.02% and a net margin of 9.25%.The business's revenue was up 3.8% on a year-over-year basis. During the same period in the prior year, the firm earned $1.43 EPS. As a group, equities research analysts expect that Kirby Corporation will post 6.57 EPS for the current year.

Kirby 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.