Great Lakes Advisors LLC Acquires Shares of 19,485 Kirby Corporation $KEX

Key Points

• Great Lakes Advisors acquired 19,485 Kirby shares worth approximately $2.65 million during the second quarter. Institutional investors collectively own 96.15% of the company.
• Analyst sentiment remains favorable, with six Buy ratings and one Hold rating. Kirby has an average “Moderate Buy” rating and an average price target of $163.20, while Bank of America raised its target to $182.
• Kirby exceeded quarterly expectations with adjusted earnings of $1.67 per share versus the $1.63 consensus estimate and revenue of $922.4 million, up 7.8% year over year. Shares opened at $139.21, near their 50-day moving average.

Great Lakes Advisors LLC acquired a new stake in shares of Kirby Corporation (NYSE:KEX - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 19,485 shares of the shipping company's stock, valued at approximately $2,649,000.

Other hedge funds have also recently modified their holdings of the company. Goldman Sachs Group Inc. grew its stake in Kirby by 30.4% during the first quarter. Goldman Sachs Group Inc. now owns 491,355 shares of the shipping company's stock valued at $49,632,000 after acquiring an additional 114,618 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in Kirby by 152.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,565 shares of the shipping company's stock worth $18,441,000 after purchasing an additional 110,320 shares in the last quarter. Cerity Partners LLC lifted its stake in Kirby by 68.6% in the 2nd quarter. Cerity Partners LLC now owns 20,096 shares of the shipping company's stock worth $2,279,000 after purchasing an additional 8,174 shares in the last quarter. California Public Employees Retirement System lifted its stake in Kirby by 3.5% in the 2nd quarter. California Public Employees Retirement System now owns 96,565 shares of the shipping company's stock worth $10,951,000 after purchasing an additional 3,292 shares in the last quarter. Finally, NewEdge Advisors LLC boosted its holdings in shares of Kirby by 52,000.0% during the 2nd quarter. NewEdge Advisors LLC now owns 2,084 shares of the shipping company's stock valued at $236,000 after purchasing an additional 2,080 shares during the last quarter. Hedge funds and other institutional investors own 96.15% of the company's stock.

Analysts Set New Price Targets

A number of research analysts have recently weighed in on KEX shares. Weiss Ratings upgraded Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday. BTIG Research reiterated a "buy" rating and issued a $170.00 target price on shares of Kirby in a research report on Wednesday, July 29th. Wall Street Zen lowered Kirby from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Bank of America raised their price target on Kirby from $169.00 to $182.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Finally, Evercore reaffirmed an "outperform" rating and issued a $158.00 price objective on shares of Kirby in a research note on Friday, May 1st. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $163.20.

Kirby Stock Up 0.4%

Shares of NYSE KEX opened at $139.21 on Friday. The firm's 50-day moving average price is $138.67 and its 200-day moving average price is $137.22. The company has a current ratio of 1.68, a quick ratio of 1.12 and a debt-to-equity ratio of 0.30. The stock has a market capitalization of $7.35 billion, a price-to-earnings ratio of 21.42, a P/E/G ratio of 1.25 and a beta of 0.84. Kirby Corporation has a 12-month low of $79.51 and a 12-month high of $157.69.

Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The shipping company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.63 by $0.04. The company had revenue of $922.40 million during the quarter, compared to analyst estimates of $870.38 million. Kirby had a return on equity of 10.44% and a net margin of 10.18%.The firm's revenue was up 7.8% on a year-over-year basis. During the same quarter last year, the business posted $1.67 earnings per share. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. On average, equities research analysts anticipate that Kirby Corporation will post 7.07 EPS for the current fiscal year.

Kirby Profile

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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