Envestnet Asset Management Inc. Purchases 3,924 Shares of Kirby Corporation (NYSE:KEX)

Envestnet Asset Management Inc. raised its holdings in shares of Kirby Corporation (NYSE:KEX - Free Report) by 5.3% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 77,641 shares of the shipping company's stock after acquiring an additional 3,924 shares during the period. Envestnet Asset Management Inc. owned about 0.14% of Kirby worth $7,842,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the business. VELA Investment Management LLC grew its position in Kirby by 4.0% during the first quarter. VELA Investment Management LLC now owns 130,254 shares of the shipping company's stock valued at $13,157,000 after acquiring an additional 5,055 shares during the last quarter. Principal Financial Group Inc. grew its position in Kirby by 0.4% during the first quarter. Principal Financial Group Inc. now owns 132,089 shares of the shipping company's stock valued at $13,342,000 after acquiring an additional 470 shares during the last quarter. DAVENPORT & Co LLC grew its position in Kirby by 21.7% during the first quarter. DAVENPORT & Co LLC now owns 188,613 shares of the shipping company's stock valued at $18,980,000 after acquiring an additional 33,613 shares during the last quarter. Peregrine Capital Management LLC grew its position in Kirby by 14.5% during the first quarter. Peregrine Capital Management LLC now owns 94,585 shares of the shipping company's stock valued at $9,554,000 after acquiring an additional 12,007 shares during the last quarter. Finally, Skylands Capital LLC grew its position in Kirby by 81.4% during the first quarter. Skylands Capital LLC now owns 61,600 shares of the shipping company's stock valued at $6,222,000 after acquiring an additional 27,650 shares during the last quarter. 96.15% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Bank of America increased their price objective on Kirby from $116.00 to $125.00 and gave the company a "buy" rating in a research note on Friday, May 16th.

Kirby Trading Up 2.0%

Shares of NYSE:KEX traded up $2.37 during trading on Friday, reaching $118.36. 360,277 shares of the company traded hands, compared to its average volume of 481,108. The firm has a market capitalization of $6.64 billion, a price-to-earnings ratio of 23.44, a P/E/G ratio of 1.04 and a beta of 0.96. Kirby Corporation has a 52-week low of $83.94 and a 52-week high of $132.21. 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 business's fifty day moving average is $113.45 and its 200-day moving average is $106.06.

Kirby (NYSE:KEX - Get Free Report) last announced its quarterly earnings results on Thursday, May 1st. The shipping company reported $1.33 EPS for the quarter, topping analysts' consensus estimates of $1.27 by $0.06. Kirby had a return on equity of 9.81% and a net margin of 9.02%. The company had revenue of $785.66 million during the quarter, compared to analyst estimates of $824.12 million. During the same quarter last year, the firm posted $1.19 earnings per share. The firm's revenue was down 2.8% on a year-over-year basis. As a group, analysts forecast that Kirby Corporation will post 6.57 EPS for the current year.

Kirby Company 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.