Nuveen Asset Management LLC Increases Position in Kirby Co. (NYSE:KEX)

Nuveen Asset Management LLC grew its holdings in shares of Kirby Co. (NYSE:KEX - Free Report) by 5.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 266,102 shares of the shipping company's stock after buying an additional 14,674 shares during the quarter. Nuveen Asset Management LLC owned 0.46% of Kirby worth $28,154,000 at the end of the most recent reporting period.

Other hedge funds have also recently made changes to their positions in the company. Empowered Funds LLC purchased a new stake in Kirby in the 4th quarter worth about $25,000. Colonial Trust Co SC raised its holdings in shares of Kirby by 295.3% in the fourth quarter. Colonial Trust Co SC now owns 253 shares of the shipping company's stock worth $27,000 after buying an additional 189 shares during the period. LGT Financial Advisors LLC purchased a new stake in shares of Kirby in the fourth quarter worth approximately $63,000. R Squared Ltd purchased a new stake in shares of Kirby in the fourth quarter worth approximately $76,000. Finally, Quarry LP purchased a new stake in shares of Kirby in the fourth quarter worth approximately $133,000. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several equities research analysts have recently weighed in on the company. Stifel Nicolaus reduced their price target on Kirby from $136.00 to $135.00 and set a "buy" rating on the stock in a report on Friday, January 31st. Bank of America increased their price target on Kirby from $116.00 to $125.00 and gave the stock a "buy" rating in a report on Friday, May 16th.

Kirby Trading Down 1.1%

NYSE:KEX traded down $1.22 during midday trading on Wednesday, hitting $109.67. The stock had a trading volume of 72,526 shares, compared to its average volume of 539,496. Kirby Co. has a one year low of $83.94 and a one year high of $132.21. The company has a market capitalization of $6.15 billion, a price-to-earnings ratio of 22.34, a PEG ratio of 0.88 and a beta of 0.91. The stock has a 50-day moving average of $100.44 and a 200 day moving average of $106.99. The company has a quick ratio of 1.05, a current ratio of 1.45 and a debt-to-equity ratio of 0.26.

Kirby (NYSE:KEX - Get Free Report) last announced its quarterly earnings data on Thursday, May 1st. The shipping company reported $1.33 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.27 by $0.06. Kirby had a return on equity of 9.71% and a net margin of 8.78%. The company had revenue of $785.66 million for the quarter, compared to analysts' expectations of $824.12 million. During the same quarter in the prior year, the firm earned $1.19 earnings per share. Kirby's revenue was down 2.8% compared to the same quarter last year. As a group, sell-side analysts forecast that Kirby Co. will post 6.57 EPS for the current year.

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.