Norges Bank Invests $81.36 Million in Kirby Corporation $KEX

Key Points

• Norges Bank disclosed a new stake in Kirby Corporation, buying 738,379 shares worth about $81.36 million and owning roughly 1.36% of the company.
• Kirby reported strong quarterly results, with EPS of $1.50 beating estimates and revenue of $844.1 million topping expectations; the company also raised FY 2026 guidance to 6.65-7.28 EPS.
• Despite the earnings beat, the stock was down about 1.1%, while analysts remain broadly positive with a Moderate Buy consensus and an average price target of $146.20.

Norges Bank bought a new position in Kirby Corporation (NYSE:KEX - Free Report) in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor bought 738,379 shares of the shipping company's stock, valued at approximately $81,355,000. Norges Bank owned approximately 1.36% of Kirby as of its most recent filing with the SEC.

Several other institutional investors have also recently made changes to their positions in the company. State of Wyoming raised its position in shares of Kirby by 12.8% in the 3rd quarter. State of Wyoming now owns 1,003 shares of the shipping company's stock worth $84,000 after acquiring an additional 114 shares in the last quarter. Fifth Third Bancorp raised its position in shares of Kirby by 18.2% in the 4th quarter. Fifth Third Bancorp now owns 739 shares of the shipping company's stock worth $81,000 after acquiring an additional 114 shares in the last quarter. Xponance Inc. raised its position in shares of Kirby by 1.8% in the 3rd quarter. Xponance Inc. now owns 6,809 shares of the shipping company's stock worth $568,000 after acquiring an additional 118 shares in the last quarter. Procyon Advisors LLC raised its position in shares of Kirby by 4.6% in the 4th quarter. Procyon Advisors LLC now owns 2,733 shares of the shipping company's stock worth $301,000 after acquiring an additional 121 shares in the last quarter. Finally, M&T Bank Corp raised its position in shares of Kirby by 2.5% in the 4th quarter. M&T Bank Corp now owns 5,179 shares of the shipping company's stock worth $571,000 after acquiring an additional 125 shares in the last quarter. Institutional investors own 96.15% of the company's stock.

Kirby Stock Down 1.1%

KEX stock opened at $141.09 on Friday. Kirby Corporation has a twelve month low of $79.51 and a twelve month high of $157.69. 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 firm has a market cap of $7.55 billion, a PE ratio of 21.71, a price-to-earnings-growth ratio of 1.45 and a beta of 0.81. The business has a 50 day moving average of $143.14 and a 200 day moving average of $128.48.

Kirby (NYSE:KEX - Get Free Report) last posted its quarterly earnings data 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 company 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 earned $1.33 EPS. The firm'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. On average, research analysts forecast that Kirby Corporation will post 6.99 EPS for the current fiscal year.

Insider Buying and Selling

In other Kirby news, VP William Matthew Woodruff sold 678 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $147.37, for a total transaction of $99,916.86. Following the sale, the vice president directly owned 9 shares in the company, valued at approximately $1,326.33. This trade represents a 98.69% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, COO Christian G. O'neil sold 11,287 shares of the stock in a transaction on Friday, May 15th. The shares were 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 sold 17,691 shares of company stock worth $2,579,036 in the last 90 days. Corporate insiders own 0.80% of the company's stock.

Analysts Set New Price Targets

Several research analysts have recently issued reports on the company. Wall Street Zen lowered Kirby from a "buy" rating to a "hold" rating in a research report on Saturday, May 23rd. Citigroup raised their price objective on Kirby from $147.00 to $160.00 and gave the company a "buy" rating in a research report on Thursday, April 9th. Weiss Ratings raised Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a research report on Friday, May 29th. Zacks Research raised Kirby from a "strong sell" rating to a "hold" rating in a research report on Friday, March 13th. Finally, BTIG Research raised their price objective on Kirby from $160.00 to $170.00 and gave the company a "buy" rating in a research report on Thursday, April 30th. Six analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. According to MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $146.20.

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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