2,702 Shares in Kirby Corporation (NYSE:KEX) Bought by Elevation Point Wealth Partners LLC

Elevation Point Wealth Partners LLC bought a new stake in shares of Kirby Corporation (NYSE:KEX - Free Report) during the 1st quarter, according to the company in its most recent disclosure with the SEC. The fund bought 2,702 shares of the shipping company's stock, valued at approximately $273,000.

A number of other large investors also recently made changes to their positions in the business. Norges Bank purchased a new stake in Kirby in the 4th quarter worth approximately $74,293,000. Select Equity Group L.P. grew its holdings in shares of Kirby by 59.0% during the 4th quarter. Select Equity Group L.P. now owns 1,565,693 shares of the shipping company's stock valued at $165,650,000 after acquiring an additional 581,215 shares in the last quarter. First Trust Advisors LP increased its stake in shares of Kirby by 69.7% in the fourth quarter. First Trust Advisors LP now owns 876,292 shares of the shipping company's stock worth $92,712,000 after acquiring an additional 359,770 shares during the last quarter. Franklin Resources Inc. raised its holdings in shares of Kirby by 848.5% during the fourth quarter. Franklin Resources Inc. now owns 393,647 shares of the shipping company's stock worth $41,648,000 after acquiring an additional 352,144 shares in the last quarter. Finally, Squarepoint Ops LLC boosted its position in Kirby by 11,498.6% during the fourth quarter. Squarepoint Ops LLC now owns 194,508 shares of the shipping company's stock valued at $20,579,000 after purchasing an additional 192,831 shares during the last quarter. Institutional investors and hedge funds own 96.15% of the company's stock.

Kirby Stock Down 0.3%

NYSE KEX traded down $0.39 during trading on Friday, reaching $112.49. The company's stock had a trading volume of 156,846 shares, compared to its average volume of 541,273. The company has a current ratio of 1.58, a quick ratio of 0.96 and a debt-to-equity ratio of 0.33. The stock has a market capitalization of $6.31 billion, a PE ratio of 22.29, a PEG ratio of 1.01 and a beta of 0.97. Kirby Corporation has a 1-year low of $83.94 and a 1-year high of $132.21. The business has a 50-day moving average price of $105.49 and a 200-day moving average price of $105.23.

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

Analysts Set New Price Targets

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

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.