Kirby Corporation $KEX Position Boosted by Allspring Global Investments Holdings LLC

Key Points

• Allspring Global Investments increased its Kirby stake by 6.9% in the first quarter, holding 219,435 shares valued at about $29.6 million.
• Other institutional investors also boosted positions, and institutional ownership remains high at 96.15% of Kirby’s stock.
• Wall Street sentiment is constructive: six analysts rate Kirby a Buy, with a consensus Moderate Buy and an average price target of $162.20.

Allspring Global Investments Holdings LLC grew its holdings in shares of Kirby Corporation (NYSE:KEX - Free Report) by 6.9% in the first quarter, according to its most recent filing with the SEC. The firm owned 219,435 shares of the shipping company's stock after acquiring an additional 14,120 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.41% of Kirby worth $29,584,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Goldman Sachs Group Inc. lifted its position in Kirby by 30.4% in the first quarter. Goldman Sachs Group Inc. now owns 491,355 shares of the shipping company's stock worth $49,632,000 after purchasing an additional 114,618 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in shares of Kirby by 152.7% during 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 purchasing an additional 110,320 shares during the period. Cerity Partners LLC increased its position in shares of 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 purchasing an additional 8,174 shares during the period. California Public Employees Retirement System raised its stake in shares of 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 buying an additional 3,292 shares in the last quarter. Finally, NewEdge Advisors LLC raised its stake in shares of Kirby by 52,000.0% in the 2nd quarter. NewEdge Advisors LLC now owns 2,084 shares of the shipping company's stock worth $236,000 after buying an additional 2,080 shares in the last quarter. Institutional investors own 96.15% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts recently weighed in on the company. Bank of America raised their target price on Kirby from $169.00 to $182.00 and gave the company a "buy" rating in a research note on Wednesday, July 8th. Evercore reiterated an "outperform" rating and issued a $158.00 price target on shares of Kirby in a research report on Friday, May 1st. Citigroup upped their price target on shares of Kirby from $160.00 to $165.00 and gave the company a "buy" rating in a report on Monday, July 13th. BTIG Research restated a "buy" rating and set a $170.00 price objective on shares of Kirby in a research report on Tuesday, July 14th. Finally, Weiss Ratings raised shares of Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Friday. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average price target of $162.20.

Insider Activity

In related news, VP Ronald A. Dragg sold 1,726 shares of the company's stock in a transaction on Monday, May 4th. The stock was sold at an average price of $145.01, for a total transaction of $250,287.26. Following the transaction, the vice president directly owned 8,673 shares of the company's stock, valued at approximately $1,257,671.73. The trade was a 16.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Christian G. O'neil sold 11,287 shares of the stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $145.93, for a total value of $1,647,111.91. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 17,691 shares of company stock worth $2,579,036 in the last quarter. Insiders own 0.80% of the company's stock.

Kirby Stock Down 0.3%

Shares of Kirby stock opened at $143.75 on Monday. Kirby Corporation has a 12-month low of $79.51 and a 12-month high of $157.69. The firm has a market capitalization of $7.69 billion, a PE ratio of 22.12, a price-to-earnings-growth ratio of 1.27 and a beta of 0.83. The company has a quick ratio of 1.01, a current ratio of 1.59 and a debt-to-equity ratio of 0.29. The stock's fifty day moving average is $141.30 and its 200-day moving average is $134.60.

Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings results on Thursday, April 30th. The shipping company reported $1.50 earnings per share for the quarter, beating analysts' consensus estimates of $1.41 by $0.09. Kirby had a return on equity of 10.62% and a net margin of 10.51%.The business had revenue of $844.10 million during the quarter, compared to analyst estimates of $832.57 million. During the same quarter last year, the company posted $1.33 EPS. Kirby's revenue for the quarter was up 7.4% on a year-over-year basis. Kirby has set its FY 2026 guidance at 6.650-7.280 EPS. Equities analysts anticipate that Kirby Corporation will post 7.06 earnings per share for the current year.

Kirby Company 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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