VELA Investment Management LLC Has $17.75 Million Stock Holdings in Kirby Corporation $KEX

Key Points

• VELA Investment Management reduced its Kirby stake by 6.7% in the second quarter, selling 9,355 shares. It still held 130,543 shares worth approximately $17.75 million, representing 3.8% of its portfolio.
• Kirby reported quarterly EPS of $1.67, exceeding estimates of $1.63, while revenue rose 7.8% year over year to $922.4 million. Institutional investors collectively own 96.15% of the company.
• Analyst sentiment remains positive overall, with five Buy ratings and two Holds producing a “Moderate Buy” consensus and an average price target of $163.20, versus a recent share price of $140.51.

VELA Investment Management LLC cut its stake in shares of Kirby Corporation (NYSE:KEX - Free Report) by 6.7% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The firm owned 130,543 shares of the shipping company's stock after selling 9,355 shares during the quarter. Kirby makes up approximately 3.8% of VELA Investment Management LLC's portfolio, making the stock its biggest position. VELA Investment Management LLC owned 0.25% of Kirby worth $17,750,000 as of its most recent SEC filing.

A number of other institutional investors have also recently made changes to their positions in the stock. Rothschild Investment LLC raised its position in shares of Kirby by 2,600.0% during the fourth quarter. Rothschild Investment LLC now owns 270 shares of the shipping company's stock worth $30,000 after acquiring an additional 260 shares during the last quarter. Smartleaf Asset Management LLC boosted its holdings in Kirby by 537.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 306 shares of the shipping company's stock valued at $34,000 after acquiring an additional 258 shares during the last quarter. Parallel Advisors LLC boosted its holdings in Kirby by 50.0% in the fourth quarter. Parallel Advisors LLC now owns 402 shares of the shipping company's stock valued at $44,000 after acquiring an additional 134 shares during the last quarter. Root Financial Partners LLC increased its position in Kirby by 182.9% during the 1st quarter. Root Financial Partners LLC now owns 430 shares of the shipping company's stock valued at $57,000 after purchasing an additional 278 shares during the period. Finally, Annis Gardner Whiting Capital Advisors LLC increased its position in Kirby by 18.2% during the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 520 shares of the shipping company's stock valued at $69,000 after purchasing an additional 80 shares during the period. Institutional investors own 96.15% of the company's stock.

Kirby Price Performance

Shares of KEX opened at $140.51 on Monday. Kirby Corporation has a 52-week low of $79.51 and a 52-week high of $157.69. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.12 and a current ratio of 1.68. The business's 50 day moving average price is $138.73 and its two-hundred day moving average price is $138.66. The firm has a market cap of $7.42 billion, a PE ratio of 21.62, a price-to-earnings-growth ratio of 1.26 and a beta of 0.86.

Kirby (NYSE:KEX - Get Free Report) last posted its quarterly earnings results on Wednesday, July 29th. The shipping company reported $1.67 earnings per share (EPS) for the quarter, topping analysts' consensus estimates 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 company's revenue for the quarter was up 7.8% compared to the same quarter last year. During the same period in the prior year, the business earned $1.67 EPS. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. On average, equities analysts anticipate that Kirby Corporation will post 7.11 EPS for the current year.

Wall Street Analyst Weigh In

Several research analysts have issued reports on KEX shares. Weiss Ratings lowered shares of Kirby from a "buy (b-)" rating to a "hold (c+)" rating in a report on Monday, August 31st. Wall Street Zen lowered shares of Kirby from a "buy" rating to a "hold" rating in a research note on Saturday, August 8th. BTIG Research reiterated a "buy" rating and set a $170.00 price objective on shares of Kirby in a research report on Wednesday, July 29th. Citigroup lifted their target price on shares of Kirby from $165.00 to $170.00 and gave the stock a "buy" rating in a research note on Friday, July 31st. Finally, Bank of America boosted their target price on shares of Kirby from $169.00 to $182.00 and gave the company a "buy" rating in a report on Wednesday, July 8th. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, the stock currently 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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