Jupiter Topco LLC Purchases New Position in Kirby Corporation $KEX

Key Points

• Jupiter Topco LLC acquired 394,968 Kirby shares worth approximately $53.7 million, giving it a 0.75% stake in the shipping company.
• Institutional interest remains high, with hedge funds and other institutions owning 96.15% of Kirby’s outstanding stock; several major investors increased their positions during the first and second quarters.
• Kirby reported quarterly EPS of $1.67, beating estimates, while revenue rose 7.8% year over year to $922.4 million. Analysts maintain a “Moderate Buy” consensus with an average price target of $163.20.

Jupiter Topco LLC acquired a new position in shares of Kirby Corporation (NYSE:KEX - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 394,968 shares of the shipping company's stock, valued at approximately $53,703,000. Jupiter Topco LLC owned approximately 0.75% of Kirby as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of KEX. Goldman Sachs Group Inc. boosted its position in shares of 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 buying an additional 114,618 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position 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 valued at $18,441,000 after buying an additional 110,320 shares during the last quarter. Cerity Partners LLC lifted its stake in Kirby by 68.6% during the 2nd quarter. Cerity Partners LLC now owns 20,096 shares of the shipping company's stock valued at $2,279,000 after acquiring an additional 8,174 shares in the last quarter. California Public Employees Retirement System lifted its stake in Kirby by 3.5% during the 2nd quarter. California Public Employees Retirement System now owns 96,565 shares of the shipping company's stock valued at $10,951,000 after acquiring an additional 3,292 shares in the last quarter. Finally, NewEdge Advisors LLC lifted its stake in 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 acquiring an additional 2,080 shares in the last quarter. 96.15% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wall Street Zen lowered shares of Kirby from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. Weiss Ratings raised shares of Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Monday, August 17th. Citigroup boosted their price target on shares of Kirby from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Friday, July 31st. BTIG Research reaffirmed a "buy" rating and issued a $170.00 price objective on shares of Kirby in a research report on Wednesday, July 29th. Finally, Evercore reiterated an "outperform" rating and issued a $158.00 price objective on shares of Kirby in a research note on Friday, May 1st. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and an average price target of $163.20.

Kirby Stock Up 0.7%

Shares of NYSE:KEX opened at $139.96 on Friday. The company has a market capitalization of $7.39 billion, a PE ratio of 21.53, a price-to-earnings-growth ratio of 1.25 and a beta of 0.84. The company has a debt-to-equity ratio of 0.30, a current ratio of 1.68 and a quick ratio of 1.12. The business has a fifty day moving average price of $138.44 and a two-hundred day moving average price of $137.87. Kirby Corporation has a 1 year low of $79.51 and a 1 year high of $157.69.

Kirby (NYSE:KEX - Get Free Report) last announced its earnings results on Wednesday, July 29th. The shipping company reported $1.67 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.63 by $0.04. The firm 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 business's revenue was up 7.8% compared to the same quarter last year. During the same period last year, the firm posted $1.67 EPS. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. Analysts forecast that Kirby Corporation will post 7.07 earnings per share for the current 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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