Quantbot Technologies LP Takes Position in Kirby Corporation $KEX

Key Points

• Quantbot Technologies LP acquired 35,851 Kirby shares worth approximately $4.9 million, while institutional investors and hedge funds collectively owned 96.15% of KEX.
• Kirby exceeded quarterly expectations, reporting $1.67 EPS versus the $1.63 consensus estimate and $922.4 million in revenue, up 7.8% year over year.
• Analysts remain broadly bullish, with six Buy ratings and one Hold; the stock carries a “Moderate Buy” consensus and an average price target of $163.20, compared with its $140.21 opening price.

Quantbot Technologies LP bought a new position in shares of Kirby Corporation (NYSE:KEX - Free Report) during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor bought 35,851 shares of the shipping company's stock, valued at approximately $4,875,000. Quantbot Technologies LP owned 0.07% of Kirby at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in KEX. BlackRock Inc. purchased a new stake in Kirby in the 2nd quarter valued at about $733,274,000. Goldman Sachs Group Inc. boosted its position in shares of Kirby by 92.0% in the fourth quarter. Goldman Sachs Group Inc. now owns 2,612,119 shares of the shipping company's stock worth $287,803,000 after acquiring an additional 1,251,700 shares during the last quarter. First Trust Advisors LP grew its holdings in Kirby by 109.4% in the fourth quarter. First Trust Advisors LP now owns 2,256,667 shares of the shipping company's stock valued at $248,640,000 after purchasing an additional 1,178,963 shares during the period. Alliancebernstein L.P. grew its holdings in Kirby by 72.5% in the second quarter. Alliancebernstein L.P. now owns 2,282,865 shares of the shipping company's stock valued at $258,900,000 after purchasing an additional 959,209 shares during the period. Finally, Norges Bank acquired a new position in Kirby during the fourth quarter worth approximately $81,355,000. 96.15% of the stock is owned by institutional investors and hedge funds.

Kirby Price Performance

Shares of KEX opened at $140.21 on Friday. Kirby Corporation has a 52 week low of $79.51 and a 52 week 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 $7.40 billion, a price-to-earnings ratio of 21.57, a PEG ratio of 1.26 and a beta of 0.84. The stock has a 50 day moving average of $138.60 and a 200-day moving average of $137.24.

Kirby (NYSE:KEX - Get Free Report) last announced its quarterly earnings data on Wednesday, July 29th. The shipping company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.63 by $0.04. The firm had revenue of $922.40 million for 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%.The firm'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 earnings per share. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. As a group, analysts forecast that Kirby Corporation will post 7.07 EPS for the current year.

Wall Street Analysts Forecast Growth

KEX has been the topic of a number of recent analyst reports. Evercore reaffirmed an "outperform" rating and set a $158.00 price target on shares of Kirby in a research note on Friday, May 1st. BTIG Research reissued a "buy" rating and set a $170.00 price objective on shares of Kirby in a research note on Wednesday, July 29th. Weiss Ratings upgraded Kirby from a "hold (c+)" rating to a "buy (b-)" rating in a report on Monday, August 17th. Citigroup increased their target price on Kirby from $165.00 to $170.00 and gave the stock a "buy" rating in a research report on Friday, July 31st. Finally, Bank of America lifted their target price on Kirby from $169.00 to $182.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company's stock. According to data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and an average target price of $163.20.

Kirby 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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