Kirby Corporation $KEX Shares Bought by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP increased its Kirby stake by 422.2% in the second quarter, purchasing 19,348 additional shares and bringing its holdings to 23,931 shares valued at approximately $3.25 million.
• Institutional investors and hedge funds own 96.15% of Kirby’s shares, with several other firms also raising their positions during the quarter.
• Analysts maintain a generally positive outlook, with a consensus rating of “Moderate Buy” and a $163.20 target price. Kirby recently exceeded quarterly earnings and revenue expectations, reporting $1.67 in EPS and $922.4 million in revenue.

Engineers Gate Manager LP lifted its holdings in Kirby Corporation (NYSE:KEX - Free Report) by 422.2% during the second quarter, according to the company in its most recent filing with the SEC. The fund owned 23,931 shares of the shipping company's stock after buying an additional 19,348 shares during the quarter. Engineers Gate Manager LP's holdings in Kirby were worth $3,254,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Integrated Wealth Concepts LLC bought a new stake in shares of Kirby during the 2nd quarter valued at about $216,000. NewEdge Advisors LLC boosted its stake in Kirby by 16,455.6% in the second quarter. NewEdge Advisors LLC now owns 1,490 shares of the shipping company's stock valued at $203,000 after acquiring an additional 1,481 shares during the period. Allworth Financial LP boosted its stake in Kirby by 85.1% in the second quarter. Allworth Financial LP now owns 1,851 shares of the shipping company's stock valued at $252,000 after acquiring an additional 851 shares during the period. Nykredit A S bought a new position in shares of Kirby during the second quarter valued at approximately $127,000. Finally, Parkside Financial Bank & Trust grew its holdings in shares of Kirby by 488.9% during the second quarter. Parkside Financial Bank & Trust now owns 477 shares of the shipping company's stock valued at $65,000 after purchasing an additional 396 shares during the last quarter. 96.15% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

KEX has been the subject of a number of analyst reports. BTIG Research restated a "buy" rating and set a $170.00 price objective on shares of Kirby in a research report on Wednesday, July 29th. Citigroup increased their target price on Kirby from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. 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. Wall Street Zen downgraded shares of Kirby from a "buy" rating to a "hold" rating in a report on Saturday, August 8th. Finally, Weiss Ratings lowered shares of Kirby from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Monday, August 31st. Five research analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. Based on data from MarketBeat.com, Kirby presently has a consensus rating of "Moderate Buy" and a consensus target price of $163.20.

Kirby Stock Performance

Shares of KEX opened at $139.36 on Monday. The firm has a 50-day moving average price of $139.36 and a 200 day moving average price of $139.04. The firm has a market capitalization of $7.36 billion, a PE ratio of 21.44, a P/E/G ratio of 1.25 and a beta of 0.86. The company has a quick ratio of 1.12, a current ratio of 1.68 and a debt-to-equity ratio of 0.30. Kirby Corporation has a 52-week low of $79.51 and a 52-week high of $157.69.

Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings results on Wednesday, July 29th. The shipping company reported $1.67 EPS for the quarter, topping analysts' consensus estimates of $1.63 by $0.04. The company had revenue of $922.40 million for the quarter, compared to the consensus estimate of $870.38 million. Kirby had a net margin of 10.18% and a return on equity of 10.44%. Kirby's revenue was up 7.8% on a year-over-year basis. During the same period in the previous year, the firm earned $1.67 EPS. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. On average, sell-side analysts anticipate that Kirby Corporation will post 7.11 earnings per share for the current fiscal year.

Kirby Profile

Kirby Corporation is a marine transportation and industrial services company headquartered in Houston, Texas. Through its marine transportation operations, the company moves bulk liquid products, including petroleum products, chemicals, and agricultural commodities, primarily in the United States.

Kirby operates one of the largest fleets of inland and coastal tank barges in the United States. Its marine transportation network serves the Mississippi River System, the Gulf Intracoastal Waterway, the Gulf of Mexico, and other U.S.

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