Wealth Enhancement Advisory Services LLC Has $1.34 Million Holdings in Kirby Corporation $KEX

Key Points

• Wealth Enhancement Advisory Services LLC increased its stake in Kirby Corporation by 45.9%, holding a total of 11,434 shares worth approximately $1.34 million.
• Institutional ownership in Kirby Corporation is high, with 96.15% of the stock owned by institutional investors and hedge funds.
• Recent analyst ratings for Kirby include a range of opinions, with three analysts giving a Buy rating and a consensus target price of $114.50.

Wealth Enhancement Advisory Services LLC increased its stake in Kirby Corporation (NYSE:KEX - Free Report) by 45.9% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 11,434 shares of the shipping company's stock after purchasing an additional 3,597 shares during the period. Wealth Enhancement Advisory Services LLC's holdings in Kirby were worth $1,337,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Pallas Capital Advisors LLC boosted its position in shares of Kirby by 14.3% during the second quarter. Pallas Capital Advisors LLC now owns 4,291 shares of the shipping company's stock worth $487,000 after buying an additional 537 shares during the period. Parallel Advisors LLC boosted its position in Kirby by 49.4% during the 2nd quarter. Parallel Advisors LLC now owns 366 shares of the shipping company's stock worth $42,000 after acquiring an additional 121 shares during the last quarter. Thurston Springer Miller Herd & Titak Inc. boosted its position in Kirby by 244.8% during the 2nd quarter. Thurston Springer Miller Herd & Titak Inc. now owns 231 shares of the shipping company's stock worth $26,000 after acquiring an additional 164 shares during the last quarter. Voya Investment Management LLC boosted its position in Kirby by 19.0% during the 1st quarter. Voya Investment Management LLC now owns 292,236 shares of the shipping company's stock worth $29,519,000 after acquiring an additional 46,673 shares during the last quarter. Finally, First Hawaiian Bank boosted its position in Kirby by 3.0% during the 1st quarter. First Hawaiian Bank now owns 24,241 shares of the shipping company's stock worth $2,449,000 after acquiring an additional 717 shares during the last quarter. 96.15% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several research analysts recently commented on KEX shares. Bank of America reduced their target price on shares of Kirby from $110.00 to $107.00 and set a "buy" rating for the company in a report on Wednesday, September 3rd. Zacks Research upgraded shares of Kirby from a "strong sell" rating to a "hold" rating in a research note on Wednesday, September 3rd. BTIG Research restated a "buy" rating and set a $125.00 price objective on shares of Kirby in a research note on Thursday, September 18th. Finally, Citigroup started coverage on shares of Kirby in a research note on Monday, September 22nd. They set a "neutral" rating and a $91.00 price objective for the company. Three analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company. According to data from MarketBeat.com, Kirby has an average rating of "Moderate Buy" and an average target price of $114.50.

Kirby Stock Performance

NYSE KEX opened at $83.31 on Wednesday. The firm has a 50-day moving average of $95.70 and a 200-day moving average of $102.54. The company has a debt-to-equity ratio of 0.33, a quick ratio of 1.12 and a current ratio of 1.74. The stock has a market cap of $4.65 billion, a PE ratio of 15.75, a P/E/G ratio of 0.86 and a beta of 1.09. Kirby Corporation has a 52-week low of $81.90 and a 52-week high of $132.21.

Kirby (NYSE:KEX - Get Free Report) last issued its quarterly earnings data on Thursday, July 31st. The shipping company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.08. Kirby had a net margin of 9.25% and a return on equity of 10.02%. The firm had revenue of $855.46 million during the quarter, compared to the consensus estimate of $851.94 million. During the same period last year, the business posted $1.43 earnings per share. The business's revenue for the quarter was up 3.8% compared to the same quarter last year. On average, sell-side analysts anticipate that Kirby Corporation will post 6.57 EPS for the current year.

Kirby Profile

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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