Connor Clark & Lunn Investment Management Ltd. Takes Position in Kirby Corporation $KEX

Key Points

• Connor Clark & Lunn Investment Management purchased 139,136 Kirby shares worth approximately $18.9 million, representing a 0.26% stake. Institutional investors and hedge funds collectively own 96.15% of KEX.
• Analysts maintain a broadly positive outlook, with six Buy ratings and one Hold rating. Kirby has an average “Moderate Buy” rating and a consensus price target of $163.20.
• Kirby exceeded quarterly expectations, reporting $1.67 in EPS versus $1.63 expected and $922.4 million in revenue, up 7.8% year over year. The stock recently traded near $137.83, within its 52-week range of $79.51 to $157.69.

Connor Clark & Lunn Investment Management Ltd. bought a new stake in Kirby Corporation (NYSE:KEX - Free Report) in the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 139,136 shares of the shipping company's stock, valued at approximately $18,918,000. Connor Clark & Lunn Investment Management Ltd. owned 0.26% of Kirby as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the company. Rothschild Investment LLC raised its holdings in Kirby by 2,600.0% in the 4th quarter. Rothschild Investment LLC now owns 270 shares of the shipping company's stock valued at $30,000 after acquiring an additional 260 shares in the last quarter. Smartleaf Asset Management LLC lifted its position in shares of Kirby by 537.5% in the 4th quarter. Smartleaf Asset Management LLC now owns 306 shares of the shipping company's stock worth $34,000 after acquiring an additional 258 shares during the period. Parallel Advisors LLC grew its holdings in shares of Kirby by 50.0% during the 4th quarter. Parallel Advisors LLC now owns 402 shares of the shipping company's stock worth $44,000 after purchasing an additional 134 shares in the last quarter. Root Financial Partners LLC raised its stake in shares of Kirby by 182.9% in the first quarter. Root Financial Partners LLC now owns 430 shares of the shipping company's stock valued at $57,000 after purchasing an additional 278 shares in the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its position in Kirby by 18.2% in the first quarter. Annis Gardner Whiting Capital Advisors LLC now owns 520 shares of the shipping company's stock worth $69,000 after purchasing an additional 80 shares during the period. 96.15% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of research firms have weighed in on KEX. Evercore reiterated an "outperform" rating and set a $158.00 price target on shares of Kirby in a research note on Friday, May 1st. BTIG Research restated a "buy" rating and issued a $170.00 price objective on shares of Kirby in a research note on Wednesday, July 29th. Citigroup raised their price objective on shares of Kirby from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Weiss Ratings upgraded shares of Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, August 17th. Finally, Wall Street Zen cut shares of Kirby from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average target price of $163.20.

Kirby Stock Performance

Kirby stock opened at $137.83 on Wednesday. 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 stock has a fifty day moving average price of $138.47 and a two-hundred day moving average price of $137.61. Kirby Corporation has a 52-week low of $79.51 and a 52-week high of $157.69. The firm has a market capitalization of $7.28 billion, a P/E ratio of 21.20, a P/E/G ratio of 1.25 and a beta of 0.84.

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 (EPS) 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 company had revenue of $922.40 million during the quarter, compared to analysts' expectations of $870.38 million. During the same period last year, the business earned $1.67 earnings per share. The business's 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, analysts anticipate that Kirby Corporation will post 7.07 EPS for the current fiscal year.

About Kirby

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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