Great Lakes Advisors LLC Sells 41,782 Shares of Kirby Corporation $KEX

Key Points

• Great Lakes Advisors LLC decreased its ownership in Kirby Corporation by 32.5%, selling 41,782 shares and holding 86,834 shares worth approximately $8.77 million by the end of the most recent quarter.
• Institutions own 96.15% of Kirby's stock, with several other investors, including Brooklyn Investment Group and Brown Advisory Inc., increasing their stakes during the same period.
• Analysts have upgraded Kirby's rating to a "hold" and set an average price target of $121.00 after the company reported earnings of $1.67 per share, exceeding expectations.

Great Lakes Advisors LLC reduced its holdings in shares of Kirby Corporation (NYSE:KEX - Free Report) by 32.5% in the first quarter, according to its most recent filing with the SEC. The fund owned 86,834 shares of the shipping company's stock after selling 41,782 shares during the period. Great Lakes Advisors LLC owned about 0.15% of Kirby worth $8,771,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the business. Brooklyn Investment Group lifted its stake in shares of Kirby by 40.7% during the 1st quarter. Brooklyn Investment Group now owns 394 shares of the shipping company's stock worth $40,000 after acquiring an additional 114 shares during the last quarter. Brown Advisory Inc. lifted its stake in shares of Kirby by 0.3% during the 1st quarter. Brown Advisory Inc. now owns 36,597 shares of the shipping company's stock worth $3,697,000 after acquiring an additional 117 shares during the last quarter. Blue Trust Inc. lifted its stake in shares of Kirby by 28.7% during the 1st quarter. Blue Trust Inc. now owns 668 shares of the shipping company's stock worth $67,000 after acquiring an additional 149 shares during the last quarter. ProShare Advisors LLC lifted its stake in shares of Kirby by 6.4% during the 4th quarter. ProShare Advisors LLC now owns 2,685 shares of the shipping company's stock worth $284,000 after acquiring an additional 161 shares during the last quarter. Finally, State of Alaska Department of Revenue lifted its stake in shares of Kirby by 2.7% during the 1st quarter. State of Alaska Department of Revenue now owns 6,726 shares of the shipping company's stock worth $679,000 after acquiring an additional 180 shares during the last quarter. 96.15% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts recently issued reports on KEX shares. Zacks Research raised Kirby from a "strong sell" rating to a "hold" rating in a research note on Wednesday, September 3rd. Bank of America reduced their price objective on Kirby from $110.00 to $107.00 and set a "buy" rating on the stock in a report on Wednesday, September 3rd. Two analysts have rated the stock with a Buy rating and one has given a Hold rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and an average price target of $121.00.

Kirby Trading Up 0.0%

Shares of NYSE:KEX opened at $89.09 on Tuesday. Kirby Corporation has a 12-month low of $83.94 and a 12-month high of $132.21. The business's fifty day simple moving average is $105.64 and its 200-day simple moving average is $104.15. The company has a market capitalization of $4.97 billion, a PE ratio of 16.84, a P/E/G ratio of 0.91 and a beta of 1.09. The company has a current ratio of 1.74, a quick ratio of 1.12 and a debt-to-equity ratio of 0.33.

Kirby (NYSE:KEX - Get Free Report) last announced its quarterly earnings results on Thursday, July 31st. The shipping company reported $1.67 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.59 by $0.08. Kirby had a return on equity of 10.02% and a net margin of 9.25%.The business had revenue of $855.46 million for the quarter, compared to the consensus estimate of $851.94 million. During the same period last year, the business posted $1.43 EPS. The business's revenue was up 3.8% compared to the same quarter last year. As a group, equities research analysts predict that Kirby Corporation will post 6.57 earnings per share for the current fiscal year.

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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