Ieq Capital LLC Acquires New Position in World Kinect Corporation $WKC

Key Points

• Ieq Capital acquired 161,428 shares of World Kinect in the second quarter, a stake valued at approximately $5.3 million and representing 0.32% of the company. Institutional investors collectively own 97.06% of WKC.
• World Kinect reported strong quarterly results, with EPS of $1.29 versus the $0.75 consensus estimate and revenue of $13.59 billion, up 50.3% year over year. The company also raised its quarterly dividend to $0.23, or $0.92 annually.
• Analyst sentiment remains mixed: the stock has a consensus “Hold” rating and a $30 average price target, below its reported $35.99 opening price. Meanwhile, insiders sold 124,445 shares worth approximately $4.46 million over the past 90 days.

Ieq Capital LLC purchased a new stake in shares of World Kinect Corporation (NYSE:WKC - Free Report) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 161,428 shares of the company's stock, valued at approximately $5,317,000. Ieq Capital LLC owned about 0.32% of World Kinect at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. bought a new stake in World Kinect in the 4th quarter worth $9,427,000. Vanguard Group Inc. increased its holdings in World Kinect by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 6,713,507 shares of the company's stock valued at $157,297,000 after purchasing an additional 62,111 shares during the period. UBS Group AG raised its position in World Kinect by 38.1% during the 4th quarter. UBS Group AG now owns 226,440 shares of the company's stock valued at $5,305,000 after purchasing an additional 62,492 shares during the last quarter. GSA Capital Partners LLP lifted its holdings in World Kinect by 98.6% in the 4th quarter. GSA Capital Partners LLP now owns 96,774 shares of the company's stock worth $2,267,000 after buying an additional 48,048 shares during the period. Finally, Jefferies Financial Group Inc. purchased a new stake in World Kinect in the 4th quarter worth approximately $413,000. 97.06% of the stock is currently owned by institutional investors.

Insider Activity

In other World Kinect news, Director Paul H. Stebbins sold 33,445 shares of World Kinect stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $39.93, for a total value of $1,335,458.85. Following the completion of the transaction, the director directly owned 58,878 shares of the company's stock, valued at approximately $2,350,998.54. The trade was a 36.23% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, EVP Jose-Miguel Tejada sold 6,000 shares of the company's stock in a transaction that occurred on Thursday, August 13th. The stock was sold at an average price of $37.16, for a total transaction of $222,960.00. Following the completion of the transaction, the executive vice president owned 35,676 shares in the company, valued at approximately $1,325,720.16. This represents a 14.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last 90 days, insiders sold 124,445 shares of company stock valued at $4,455,900. Company insiders own 3.80% of the company's stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wall Street Zen upgraded World Kinect from a "buy" rating to a "strong-buy" rating in a report on Saturday, August 1st. Weiss Ratings cut shares of World Kinect from a "hold (c-)" rating to a "sell (d)" rating in a report on Tuesday, July 28th. Morgan Stanley set a $30.00 price objective on shares of World Kinect in a research report on Wednesday, July 29th. Finally, Zacks Research upgraded shares of World Kinect from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 22nd. One research analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $30.00.

World Kinect Price Performance

WKC stock opened at $35.99 on Monday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 0.91 and a current ratio of 1.06. The firm has a 50 day moving average price of $35.46 and a 200-day moving average price of $29.32. World Kinect Corporation has a 52-week low of $22.21 and a 52-week high of $41.20. The firm has a market capitalization of $1.84 billion, a price-to-earnings ratio of -11.21, a PEG ratio of 0.55 and a beta of 1.17.

World Kinect (NYSE:WKC - Get Free Report) last released its earnings results on Thursday, July 23rd. The company reported $1.29 EPS for the quarter, topping analysts' consensus estimates of $0.75 by $0.54. World Kinect had a positive return on equity of 11.24% and a negative net margin of 0.43%.The firm had revenue of $13.59 billion for the quarter, compared to analysts' expectations of $10.50 billion. During the same period in the prior year, the firm posted $0.59 earnings per share. The company's quarterly revenue was up 50.3% on a year-over-year basis. World Kinect has set its FY 2026 guidance at 3.200-3.400 EPS. Equities research analysts forecast that World Kinect Corporation will post 3.6 EPS for the current fiscal year.

World Kinect Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Investors of record on Tuesday, June 30th were paid a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.6%. The ex-dividend date was Tuesday, June 30th. This is a positive change from World Kinect's previous quarterly dividend of $0.20. World Kinect's dividend payout ratio (DPR) is presently -28.66%.

World Kinect Profile

World Kinect Energy Services, Inc NYSE: WKC is a global energy services company specializing in fuel procurement, supply chain management and risk mitigation solutions. The company offers an integrated platform that facilitates the sourcing, trading and logistics of refined fuels, natural gas, liquefied natural gas (LNG) and renewable energy products. Its services are designed to help industrial, commercial and institutional clients optimize energy costs, comply with environmental regulations and manage price volatility.

In addition to traditional commodity trading and delivery, World Kinect provides a suite of value-added services that include carbon offset and decarbonization strategies, energy efficiency consulting and emissions reporting.

Want to see what other hedge funds are holding WKC? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for World Kinect Corporation (NYSE:WKC - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.

Continue following MarketBeat

Add MarketBeat as your preferred source on Google to see our latest stories in your feed.

Add As Preferred Source