World Kinect Corporation $WKC Shares Bought by Engineers Gate Manager LP

Key Points

• Engineers Gate Manager LP increased its World Kinect position by 64.6% in the second quarter, holding 116,078 shares worth approximately $3.82 million. Institutional investors and hedge funds collectively own 97.06% of the company.
• World Kinect reported quarterly EPS of $1.29, beating estimates of $0.75, while revenue rose 50.3% year over year to $13.59 billion. The company also increased its quarterly dividend to $0.23, or $0.92 annually, yielding about 2.6%.
• Analyst sentiment remains mixed, with the stock carrying an average “Hold” rating and a $30 price target, below its reported $35.10 share price. Insiders have sold 104,445 shares worth approximately $3.92 million over the past 90 days.

Engineers Gate Manager LP raised its position in World Kinect Corporation (NYSE:WKC - Free Report) by 64.6% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 116,078 shares of the company's stock after purchasing an additional 45,560 shares during the quarter. Engineers Gate Manager LP owned 0.23% of World Kinect worth $3,824,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also modified their holdings of the company. Cassaday & Co Wealth Management LLC acquired a new stake in World Kinect during the 1st quarter worth approximately $37,000. IFP Advisors Inc lifted its position in World Kinect by 858.9% during the second quarter. IFP Advisors Inc now owns 1,774 shares of the company's stock valued at $58,000 after buying an additional 1,589 shares in the last quarter. Transamerica Financial Advisors LLC purchased a new stake in World Kinect during the second quarter worth approximately $73,000. Aquatic Capital Management LLC purchased a new stake in World Kinect during the third quarter worth approximately $61,000. Finally, Nykredit A S acquired a new stake in shares of World Kinect in the second quarter worth $84,000. 97.06% of the stock is owned by institutional investors and hedge funds.

World Kinect Stock Performance

NYSE:WKC opened at $35.10 on Friday. The firm has a 50-day moving average of $36.44 and a two-hundred day moving average of $30.20. The company has a debt-to-equity ratio of 0.58, a current ratio of 1.06 and a quick ratio of 0.91. The stock has a market cap of $1.80 billion, a P/E ratio of -10.93, a PEG ratio of 0.54 and a beta of 1.16. World Kinect Corporation has a 1-year low of $22.21 and a 1-year high of $41.20.

World Kinect (NYSE:WKC - Get Free Report) last issued its quarterly earnings results on Thursday, July 23rd. The company reported $1.29 EPS for the quarter, beating analysts' consensus estimates of $0.75 by $0.54. World Kinect had a positive return on equity of 11.24% and a negative net margin of 0.43%.The firm had revenue of $13.59 billion during the quarter, compared to the consensus estimate of $10.50 billion. During the same quarter in the prior year, the business posted $0.59 earnings per share. World Kinect's revenue for the quarter was up 50.3% on a year-over-year basis. World Kinect has set its FY 2026 guidance at 3.200-3.400 EPS. On average, research analysts expect that World Kinect Corporation will post 3.6 earnings per share for the current fiscal year.

World Kinect Increases Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, July 16th. Shareholders of record on Tuesday, June 30th were given a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a dividend yield of 2.6%. The ex-dividend date of this dividend was Tuesday, June 30th. This is a positive change from World Kinect's previous quarterly dividend of $0.20. World Kinect's dividend payout ratio is currently -28.66%.

Insiders Place Their Bets

In other news, EVP Jose-Miguel Tejada sold 6,000 shares of the firm's stock in a transaction that occurred on Thursday, August 13th. The shares were sold at an average price of $37.16, for a total transaction of $222,960.00. Following the completion of the sale, the executive vice president owned 35,676 shares of the company's stock, valued at approximately $1,325,720.16. This trade represents a 14.40% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Michael Kasbar sold 25,000 shares of World Kinect stock in a transaction on Friday, July 10th. The stock was sold at an average price of $35.04, for a total transaction of $876,000.00. Following the completion of the sale, the chairman owned 986,450 shares of the company's stock, valued at approximately $34,565,208. This trade represents a 2.47% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last 90 days, insiders have sold 104,445 shares of company stock valued at $3,915,119. Corporate insiders own 3.80% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently weighed in on the stock. Zacks Research upgraded shares of World Kinect from a "hold" rating to a "strong-buy" rating in a report on Wednesday, July 22nd. Weiss Ratings cut World Kinect from a "hold (c-)" rating to a "sell (d)" rating in a research note on Tuesday, July 28th. Wall Street Zen lowered World Kinect from a "strong-buy" rating to a "buy" rating in a research note on Saturday, August 29th. Finally, Morgan Stanley set a $30.00 price target on World Kinect in a research report on Wednesday, July 29th. One research analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $30.00.

World Kinect Profile

World Kinect Corporation NYSE: WKC is an energy management company that provides fuel, energy and related services to customers in the aviation, marine and land transportation industries. Its offerings include the sourcing, marketing, distribution and delivery of conventional and alternative fuels, as well as energy procurement and risk-management solutions.

The company serves commercial airlines, business and general aviation operators, shipping companies, trucking and transportation businesses, government entities, utilities and other commercial customers.

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