EverSource Wealth Advisors LLC Raises Stock Position in Kirby Corporation (NYSE:KEX)

Key Points

• EverSource Wealth Advisors LLC increased its stake in Kirby Corporation by 156.2% during Q1, holding approximately 34,704 shares valued at $3,505,000 at the end of the reporting period.
• Several institutional investors, including Nuveen LLC and Deutsche Bank AG, also increased their positions in Kirby Corporation during the same quarter, indicating strong institutional interest with 96.15% of the stock owned by such investors.
• Kirby Corporation reported a quarterly EPS of $1.67, surpassing analyst expectations of $1.59, alongside a year-over-year revenue increase of 3.8% to $855.46 million.

EverSource Wealth Advisors LLC lifted its stake in shares of Kirby Corporation (NYSE:KEX - Free Report) by 156.2% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 34,704 shares of the shipping company's stock after acquiring an additional 21,156 shares during the quarter. EverSource Wealth Advisors LLC owned approximately 0.06% of Kirby worth $3,505,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of the stock. Nuveen LLC purchased a new position in shares of Kirby during the first quarter worth approximately $31,741,000. Benjamin Edwards Inc. increased its holdings in Kirby by 19.0% during the first quarter. Benjamin Edwards Inc. now owns 8,776 shares of the shipping company's stock valued at $886,000 after buying an additional 1,402 shares during the period. National Bank of Canada FI purchased a new position in Kirby during the first quarter valued at approximately $1,131,000. Deutsche Bank AG increased its holdings in Kirby by 45.8% during the first quarter. Deutsche Bank AG now owns 68,377 shares of the shipping company's stock valued at $6,907,000 after buying an additional 21,480 shares during the period. Finally, Ontario Teachers Pension Plan Board increased its holdings in Kirby by 19.0% during the first quarter. Ontario Teachers Pension Plan Board now owns 18,116 shares of the shipping company's stock valued at $1,830,000 after buying an additional 2,894 shares during the period. 96.15% of the stock is owned by hedge funds and other institutional investors.

Kirby Stock Performance

Shares of KEX stock opened at $97.96 on Friday. The firm has a market cap of $5.47 billion, a price-to-earnings ratio of 18.52, a PEG ratio of 0.99 and a beta of 1.01. The company's 50 day moving average is $111.55 and its 200 day moving average is $105.59. The company has a quick ratio of 0.96, a current ratio of 1.74 and a debt-to-equity ratio of 0.33. Kirby Corporation has a 52-week low of $83.94 and a 52-week high of $132.21.

Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings results on Thursday, July 31st. The shipping company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.08. Kirby had a net margin of 9.25% and a return on equity of 10.02%. The business had revenue of $855.46 million for the quarter, compared to analyst estimates of $851.94 million. During the same period in the previous year, the company earned $1.43 earnings per share. The business's revenue for the quarter was up 3.8% on a year-over-year basis. On average, sell-side analysts anticipate that Kirby Corporation will post 6.57 EPS for the current fiscal year.

Analyst Ratings Changes

Separately, Bank of America lifted their price objective on shares of Kirby from $116.00 to $125.00 and gave the company a "buy" rating in a 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.

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