BlackRock Inc. purchased a new stake in Kirby Corporation (NYSE:KEX - Free Report) during the second quarter, according to the company in its most recent filing with the SEC. The firm purchased 5,392,912 shares of the shipping company's stock, valued at approximately $733,274,000. BlackRock Inc. owned about 10.08% of Kirby as of its most recent SEC filing.
Other institutional investors also recently made changes to their positions in the company. Fifth Third Wealth Advisors LLC grew its holdings in shares of Kirby by 4.2% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,917 shares of the shipping company's stock worth $255,000 after purchasing an additional 77 shares during the period. Procyon Advisors LLC raised its holdings in Kirby by 2.9% in the first quarter. Procyon Advisors LLC now owns 2,811 shares of the shipping company's stock valued at $374,000 after buying an additional 78 shares during the period. Annis Gardner Whiting Capital Advisors LLC lifted its position in Kirby by 18.2% during the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 520 shares of the shipping company's stock valued at $69,000 after buying an additional 80 shares in the last quarter. Fifth Third Bancorp lifted its position in Kirby by 18.2% during the fourth quarter. Fifth Third Bancorp now owns 739 shares of the shipping company's stock valued at $81,000 after buying an additional 114 shares in the last quarter. Finally, M&T Bank Corp grew its stake in Kirby by 2.5% during the fourth quarter. M&T Bank Corp now owns 5,179 shares of the shipping company's stock worth $571,000 after buying an additional 125 shares during the period. 96.15% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of analysts recently weighed in on KEX shares. BTIG Research reaffirmed a "buy" rating and set a $170.00 price target on shares of Kirby in a research report on Wednesday, July 29th. Bank of America raised their price objective on Kirby from $169.00 to $182.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. Citigroup boosted their price objective on Kirby from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Wall Street Zen downgraded Kirby from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Weiss Ratings upgraded Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Monday, August 17th. Six investment analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, Kirby has a consensus rating of "Moderate Buy" and a consensus price target of $163.20.
Read Our Latest Analysis on KEX
Kirby Stock Up 0.7%
Shares of Kirby stock opened at $140.21 on Friday. Kirby Corporation has a 1-year low of $79.51 and a 1-year high of $157.69. The company has a market capitalization of $7.40 billion, a PE ratio of 21.57, a P/E/G ratio of 1.26 and a beta of 0.84. 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 has a 50-day moving average of $138.60 and a 200-day moving average of $137.24.
Kirby (NYSE:KEX - Get Free Report) last issued its quarterly earnings data on Wednesday, July 29th. The shipping company reported $1.67 earnings per share for the quarter, beating analysts' consensus estimates 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 analyst estimates of $870.38 million. During the same quarter last year, the firm earned $1.67 EPS. Kirby's quarterly revenue was up 7.8% on a year-over-year basis. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. As a group, equities analysts forecast that Kirby Corporation will post 7.07 EPS for the current fiscal year.
Kirby Company Profile
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Free Report)
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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