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XTX Topco Ltd Purchases 3,006 Shares of Kirby Corporation (NYSE:KEX)

Kirby logo with Transportation background

Key Points

  • XTX Topco Ltd increased its stake in Kirby Corporation by 43.3% in the first quarter, owning nearly 10,000 shares worth over $1 million.
  • Institutional investors now hold 96.15% of Kirby's stock, with several firms significantly increasing their positions in the company recently.
  • Kirby reported $1.67 earnings per share, exceeding estimates, and has received a target price upgrade from Bank of America from $116.00 to $125.00, maintaining a "buy" rating.
  • Interested in Kirby? Here are five stocks we like better.

XTX Topco Ltd grew its position in shares of Kirby Corporation (NYSE:KEX - Free Report) by 43.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 9,956 shares of the shipping company's stock after buying an additional 3,006 shares during the period. XTX Topco Ltd's holdings in Kirby were worth $1,006,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Premier Fund Managers Ltd increased its position in Kirby by 36.1% during the 1st quarter. Premier Fund Managers Ltd now owns 16,131 shares of the shipping company's stock valued at $1,624,000 after buying an additional 4,281 shares in the last quarter. Mackenzie Financial Corp lifted its position in shares of Kirby by 27.9% in the first quarter. Mackenzie Financial Corp now owns 11,683 shares of the shipping company's stock worth $1,180,000 after buying an additional 2,548 shares in the last quarter. TCW Group Inc. raised its position in Kirby by 2.6% during the first quarter. TCW Group Inc. now owns 27,815 shares of the shipping company's stock valued at $2,810,000 after purchasing an additional 705 shares during the period. Bastion Asset Management Inc. purchased a new stake in Kirby during the first quarter valued at approximately $3,593,000. Finally, Cetera Investment Advisers grew its stake in shares of Kirby by 15.1% during the first quarter. Cetera Investment Advisers now owns 7,246 shares of the shipping company's stock valued at $732,000 after buying an additional 949 shares during the last quarter. 96.15% of the stock is currently owned by institutional investors.

Kirby Stock Performance

NYSE:KEX traded up $0.19 during mid-day trading on Friday, reaching $95.50. The stock had a trading volume of 1,660,498 shares, compared to its average volume of 696,210. The business has a 50 day simple moving average of $113.62 and a 200 day simple moving average of $106.23. The firm has a market capitalization of $5.36 billion, a price-to-earnings ratio of 18.05, a PEG ratio of 0.86 and a beta of 1.01. Kirby Corporation has a twelve month low of $83.94 and a twelve month high of $132.21. The company has a debt-to-equity ratio of 0.33, a quick ratio of 0.96 and a current ratio of 1.58.

Kirby (NYSE:KEX - Get Free Report) last released its earnings results on Thursday, July 31st. The shipping company reported $1.67 EPS for the quarter, topping the consensus estimate of $1.59 by $0.08. Kirby had a net margin of 9.25% and a return on equity of 10.07%. The firm had revenue of $855.46 million during the quarter, compared to analysts' expectations of $851.94 million. During the same period in the previous year, the company earned $1.43 EPS. Kirby's revenue for the quarter was up 3.8% on a year-over-year basis. On average, analysts expect that Kirby Corporation will post 6.57 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Separately, Bank of America increased their price objective on Kirby from $116.00 to $125.00 and gave the company a "buy" rating in a report on Friday, May 16th.

View Our Latest Stock Analysis on Kirby

About Kirby

(Free Report)

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.

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Institutional Ownership by Quarter for Kirby (NYSE:KEX)

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