Wellington Management Group LLP reduced its stake in Kirby Corporation (NYSE:KEX - Free Report) by 27.0% in the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 1,150,107 shares of the shipping company's stock after selling 425,386 shares during the quarter. Wellington Management Group LLP owned approximately 2.18% of Kirby worth $156,380,000 at the end of the most recent quarter.
Other hedge funds and other institutional investors have also modified their holdings of the company. Empowered Funds LLC acquired a new position in shares of Kirby during the 2nd quarter valued at about $275,000. Equitable Holdings Inc. purchased a new position in Kirby during the second quarter worth about $622,000. Formula Growth Ltd. acquired a new position in Kirby in the 2nd quarter valued at about $1,597,000. Public Employees Retirement System of Ohio purchased a new stake in shares of Kirby in the 2nd quarter valued at approximately $2,176,000. Finally, Capstone Investment Advisors LLC purchased a new stake in shares of Kirby in the 2nd quarter valued at approximately $800,000. 96.15% of the stock is owned by institutional investors and hedge funds.
Kirby Price Performance
KEX opened at $141.73 on Tuesday. The stock's 50-day moving average price is $138.42 and its 200 day moving average price is $138.15. Kirby Corporation has a 12-month low of $79.51 and a 12-month high of $157.69. The company has a current ratio of 1.68, a quick ratio of 1.12 and a debt-to-equity ratio of 0.30. The firm has a market cap of $7.48 billion, a price-to-earnings ratio of 21.80, a PEG ratio of 1.25 and a beta of 0.84.
Kirby (NYSE:KEX - Get Free Report) last announced its earnings results on Wednesday, July 29th. The shipping company reported $1.67 EPS for the quarter, beating analysts' consensus estimates of $1.63 by $0.04. The company had revenue of $922.40 million during the quarter, compared to analysts' expectations of $870.38 million. Kirby had a return on equity of 10.44% and a net margin of 10.18%.Kirby's revenue for the quarter was up 7.8% on a year-over-year basis. During the same period last year, the business posted $1.67 EPS. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. As a group, sell-side analysts expect that Kirby Corporation will post 7.07 earnings per share for the current year.
Analyst Upgrades and Downgrades
Several research analysts recently weighed in on KEX shares. BTIG Research reiterated a "buy" rating and issued a $170.00 price objective on shares of Kirby in a research report on Wednesday, July 29th. Bank of America lifted their target price on Kirby from $169.00 to $182.00 and gave the company a "buy" rating in a research report on Wednesday, July 8th. Citigroup increased their price target on Kirby from $165.00 to $170.00 and gave the stock a "buy" rating in a report on Friday, July 31st. Wall Street Zen downgraded Kirby from a "buy" rating to a "hold" rating in a research report on Saturday, August 8th. Finally, Weiss Ratings upgraded shares of Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, August 17th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Moderate Buy" and a consensus price target of $163.20.
Check Out Our Latest Stock Analysis on Kirby
About Kirby
(
Free Report)
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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