Lazard Asset Management LLC Acquires 4,294 Shares of Kirby Co. (NYSE:KEX)

Lazard Asset Management LLC grew its holdings in shares of Kirby Co. (NYSE:KEX - Free Report) by 59.9% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 11,463 shares of the shipping company's stock after purchasing an additional 4,294 shares during the quarter. Lazard Asset Management LLC's holdings in Kirby were worth $1,211,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC boosted its position in Kirby by 1.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 8,459 shares of the shipping company's stock worth $895,000 after purchasing an additional 108 shares during the period. Huntington National Bank raised its stake in shares of Kirby by 6.8% during the 4th quarter. Huntington National Bank now owns 1,781 shares of the shipping company's stock valued at $188,000 after purchasing an additional 113 shares during the period. Mercer Global Advisors Inc. ADV raised its stake in shares of Kirby by 1.0% during the 4th quarter. Mercer Global Advisors Inc. ADV now owns 13,035 shares of the shipping company's stock valued at $1,379,000 after purchasing an additional 124 shares during the period. Stifel Financial Corp raised its stake in shares of Kirby by 0.5% during the 4th quarter. Stifel Financial Corp now owns 29,047 shares of the shipping company's stock valued at $3,073,000 after purchasing an additional 138 shares during the period. Finally, Corient Private Wealth LLC raised its stake in shares of Kirby by 0.5% during the 4th quarter. Corient Private Wealth LLC now owns 30,914 shares of the shipping company's stock valued at $3,271,000 after purchasing an additional 140 shares during the period. Institutional investors own 96.15% of the company's stock.

Kirby Stock Performance

NYSE:KEX opened at $110.23 on Tuesday. The firm has a market cap of $6.18 billion, a PE ratio of 22.45, a price-to-earnings-growth ratio of 0.88 and a beta of 0.91. Kirby Co. has a fifty-two week low of $83.94 and a fifty-two week high of $132.21. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.05 and a current ratio of 1.45. The business has a 50 day moving average price of $99.32 and a 200-day moving average price of $107.47.

Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings results on Thursday, May 1st. The shipping company reported $1.33 EPS for the quarter, beating analysts' consensus estimates of $1.27 by $0.06. Kirby had a return on equity of 9.71% and a net margin of 8.78%. The business had revenue of $785.66 million during the quarter, compared to analyst estimates of $824.12 million. During the same quarter in the prior year, the company posted $1.19 EPS. Kirby's quarterly revenue was down 2.8% compared to the same quarter last year. Equities research analysts predict that Kirby Co. will post 6.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Several brokerages have commented on KEX. Bank of America raised their price target on shares of Kirby from $116.00 to $125.00 and gave the company a "buy" rating in a report on Friday. Stifel Nicolaus dropped their price objective on Kirby from $136.00 to $135.00 and set a "buy" rating for the company in a research note on Friday, January 31st.

About Kirby

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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