ING Groep NV Invests $2.44 Million in Kirby Corporation $KEX

Key Points

• ING Groep NV disclosed a new stake in Kirby Corporation, buying 22,100 shares valued at about $2.44 million in the fourth quarter.
• Institutional ownership remains very high, with hedge funds and other investors holding 96.15% of Kirby’s stock. Several large investors, including Vanguard and Goldman Sachs, also increased their positions.
• Kirby reported better-than-expected quarterly results, posting EPS of $1.50 versus $1.41 expected and revenue of $844.1 million, while analysts currently maintain a Moderate Buy rating with a consensus price target of $146.20.

ING Groep NV acquired a new position in Kirby Corporation (NYSE:KEX - Free Report) during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 22,100 shares of the shipping company's stock, valued at approximately $2,435,000.

Several other hedge funds and other institutional investors have also modified their holdings of KEX. Vanguard Group Inc. increased its holdings in shares of Kirby by 2.4% during the 3rd quarter. Vanguard Group Inc. now owns 5,667,853 shares of the shipping company's stock worth $472,982,000 after purchasing an additional 134,261 shares during the period. Goldman Sachs Group Inc. increased its holdings in shares of Kirby by 92.0% during the 4th quarter. Goldman Sachs Group Inc. now owns 2,612,119 shares of the shipping company's stock worth $287,803,000 after purchasing an additional 1,251,700 shares during the period. Alliancebernstein L.P. increased its holdings in shares of Kirby by 72.5% during the 2nd quarter. Alliancebernstein L.P. now owns 2,282,865 shares of the shipping company's stock worth $258,900,000 after purchasing an additional 959,209 shares during the period. Select Equity Group L.P. increased its holdings in shares of Kirby by 10.8% during the 2nd quarter. Select Equity Group L.P. now owns 2,165,929 shares of the shipping company's stock worth $245,638,000 after purchasing an additional 211,231 shares during the period. Finally, King Luther Capital Management Corp increased its holdings in shares of Kirby by 3.0% during the 4th quarter. King Luther Capital Management Corp now owns 1,617,100 shares of the shipping company's stock worth $178,172,000 after purchasing an additional 47,099 shares during the period. Institutional investors and hedge funds own 96.15% of the company's stock.

Kirby Price Performance

Kirby stock opened at $143.18 on Wednesday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.59 and a quick ratio of 1.01. The company has a market capitalization of $7.66 billion, a PE ratio of 22.03, a price-to-earnings-growth ratio of 1.45 and a beta of 0.81. Kirby Corporation has a one year low of $79.51 and a one year high of $157.69. The business has a 50 day simple moving average of $143.43 and a 200 day simple moving average of $129.12.

Kirby (NYSE:KEX - Get Free Report) last issued its quarterly earnings data on Thursday, April 30th. The shipping company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.09. The firm had revenue of $844.10 million for the quarter, compared to analysts' expectations of $832.57 million. Kirby had a net margin of 10.51% and a return on equity of 10.62%. The company's quarterly revenue was up 7.4% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.33 earnings per share. Kirby has set its FY 2026 guidance at 6.650-7.280 EPS. On average, sell-side analysts forecast that Kirby Corporation will post 6.99 EPS for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the stock. Zacks Research upgraded shares of Kirby from a "strong sell" rating to a "hold" rating in a report on Friday, March 13th. Evercore restated an "outperform" rating and set a $158.00 price objective on shares of Kirby in a report on Friday, May 1st. Wall Street Zen downgraded shares of Kirby from a "buy" rating to a "hold" rating in a report on Saturday, May 23rd. Citigroup boosted their price objective on shares of Kirby from $147.00 to $160.00 and gave the stock a "buy" rating in a report on Thursday, April 9th. Finally, BTIG Research boosted their price objective on shares of Kirby from $160.00 to $170.00 and gave the stock a "buy" rating in a report on Thursday, April 30th. Six research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $146.20.

Insider Activity

In other Kirby news, COO Christian G. O'neil sold 11,287 shares of the company's stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $145.93, for a total transaction of $1,647,111.91. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, VP Ronald A. Dragg sold 1,726 shares of the company's stock in a transaction dated Monday, May 4th. The stock was sold at an average price of $145.01, for a total transaction of $250,287.26. Following the sale, the vice president directly owned 8,673 shares in the company, valued at $1,257,671.73. This represents a 16.60% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold a total of 17,691 shares of company stock valued at $2,579,036 over the last three months. 0.80% of the stock is owned by corporate insiders.

About Kirby

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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