Amundi Sells 232,047 Shares of Kirby Corporation $KEX

Key Points

• Amundi cut its Kirby stake by 81.6% in the first quarter, selling 232,047 shares and retaining 52,316 shares valued at approximately $6.95 million.
• Other institutional investors increased their positions, including Goldman Sachs, AllianceBernstein, First Trust Advisors and Dimensional Fund Advisors. Institutions collectively own 96.15% of Kirby’s outstanding stock.
• Kirby beat quarterly earnings and revenue expectations, reporting $1.67 in EPS and $922.4 million in revenue. Analysts maintain a “Moderate Buy” consensus with an average price target of $163.20, although insiders sold about $2.33 million in stock over the past 90 days.

Amundi trimmed its holdings in Kirby Corporation (NYSE:KEX - Free Report) by 81.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 52,316 shares of the shipping company's stock after selling 232,047 shares during the period. Amundi owned approximately 0.10% of Kirby worth $6,952,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also bought and sold shares of KEX. Dimensional Fund Advisors LP raised its stake in shares of Kirby by 5.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,617,538 shares of the shipping company's stock valued at $347,829,000 after purchasing an additional 133,030 shares during the period. Goldman Sachs Group Inc. grew its holdings in Kirby by 92.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,612,119 shares of the shipping company's stock valued at $287,803,000 after buying an additional 1,251,700 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Kirby by 72.5% during the second quarter. Alliancebernstein L.P. now owns 2,282,865 shares of the shipping company's stock valued at $258,900,000 after buying an additional 959,209 shares during the period. First Trust Advisors LP increased its position in shares of Kirby by 109.4% during the fourth quarter. First Trust Advisors LP now owns 2,256,667 shares of the shipping company's stock valued at $248,640,000 after buying an additional 1,178,963 shares during the period. Finally, Select Equity Group L.P. lifted its holdings in shares of Kirby by 10.8% in the second quarter. Select Equity Group L.P. now owns 2,165,929 shares of the shipping company's stock worth $245,638,000 after buying an additional 211,231 shares in the last quarter. Institutional investors own 96.15% of the company's stock.

Kirby Trading Down 0.9%

Shares of KEX stock opened at $131.23 on Thursday. The business has a 50-day moving average of $139.88 and a 200 day moving average of $136.47. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.59 and a quick ratio of 1.01. Kirby Corporation has a 1-year low of $79.51 and a 1-year high of $157.69. The stock has a market capitalization of $7.02 billion, a PE ratio of 20.19, a P/E/G ratio of 1.15 and a beta of 0.84.

Kirby (NYSE:KEX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The shipping company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.04. The firm had revenue of $922.40 million during the quarter, compared to the consensus estimate of $870.38 million. Kirby had a return on equity of 10.49% and a net margin of 10.18%.The business's revenue was up 7.8% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.67 earnings per share. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. As a group, sell-side analysts anticipate that Kirby Corporation will post 7.28 earnings per share for the current year.

Insider Activity at Kirby

In related news, COO Christian G. O'neil sold 11,287 shares of the business's stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $145.93, for a total transaction of $1,647,111.91. The sale was disclosed in a filing with the SEC, which is accessible through this link. Also, VP Amy D. Husted sold 4,000 shares of the company's stock in a transaction that occurred on Friday, May 15th. The shares were sold at an average price of $145.43, for a total value of $581,720.00. Following the transaction, the vice president directly owned 10,814 shares of the company's stock, valued at $1,572,680.02. The trade was a 27.00% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 15,965 shares of company stock worth $2,328,749 in the last 90 days. Company insiders own 0.80% of the company's stock.

Analyst Upgrades and Downgrades

A number of analysts recently weighed in on the stock. Bank of America upped their target price on shares of Kirby from $169.00 to $182.00 and gave the stock a "buy" rating in a report on Wednesday, July 8th. BTIG Research restated a "buy" rating and set a $170.00 price target on shares of Kirby in a research report on Wednesday, July 29th. Citigroup upped their price target on shares of Kirby from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Evercore reiterated an "outperform" rating and set a $158.00 price target on shares of Kirby in a research report on Friday, May 1st. Finally, Wall Street Zen raised Kirby from a "hold" rating to a "buy" rating in a report on Saturday, June 13th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat, Kirby currently has an average rating of "Moderate Buy" and an average price target of $163.20.

Kirby 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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