Envestnet Asset Management Inc. Trims Holdings in Kirby Co. (NYSE:KEX)

Envestnet Asset Management Inc. lessened its stake in Kirby Co. (NYSE:KEX - Free Report) by 5.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 73,717 shares of the shipping company's stock after selling 4,055 shares during the quarter. Envestnet Asset Management Inc. owned about 0.13% of Kirby worth $7,799,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of KEX. Empowered Funds LLC bought a new stake in shares of Kirby during the fourth quarter worth $25,000. R Squared Ltd acquired a new position in shares of Kirby during the fourth quarter worth $76,000. Signaturefd LLC lifted its holdings in shares of Kirby by 13.1% during the fourth quarter. Signaturefd LLC now owns 1,746 shares of the shipping company's stock worth $185,000 after purchasing an additional 202 shares during the period. Huntington National Bank lifted its holdings in shares of Kirby by 6.8% during the fourth quarter. Huntington National Bank now owns 1,781 shares of the shipping company's stock worth $188,000 after purchasing an additional 113 shares during the period. Finally, Ieq Capital LLC acquired a new position in shares of Kirby during the fourth quarter worth $257,000. Institutional investors and hedge funds own 96.15% of the company's stock.

Analyst Ratings Changes

Several equities analysts recently issued reports on KEX shares. StockNews.com lowered shares of Kirby from a "buy" rating to a "hold" rating in a report on Thursday, January 9th. Bank of America decreased their price objective on Kirby from $133.00 to $123.00 and set a "buy" rating for the company in a report on Friday, March 28th. Finally, Stifel Nicolaus lowered their price objective on shares of Kirby from $136.00 to $135.00 and set a "buy" rating on the stock in a report on Friday, January 31st.

Insider Buying and Selling at Kirby

In other Kirby news, VP Scott P. Miller sold 1,244 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $107.61, for a total value of $133,866.84. Following the completion of the sale, the vice president now directly owns 5,545 shares of the company's stock, valued at $596,697.45. This trade represents a 18.32 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this link. Corporate insiders own 0.90% of the company's stock.

Kirby Stock Up 1.4 %

Shares of NYSE KEX traded up $1.33 during trading on Thursday, hitting $97.16. The stock had a trading volume of 22,270 shares, compared to its average volume of 539,761. Kirby Co. has a 12 month low of $83.94 and a 12 month high of $132.21. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.05. The company has a market capitalization of $5.53 billion, a PE ratio of 19.80, a PEG ratio of 0.88 and a beta of 0.99. The firm has a fifty day moving average of $98.67 and a two-hundred day moving average of $109.94.

Kirby (NYSE:KEX - Get Free Report) last posted its earnings results on Thursday, January 30th. The shipping company reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). Kirby had a return on equity of 9.71% and a net margin of 8.78%. As a group, equities research analysts forecast that Kirby Co. will post 6.57 EPS for the current fiscal 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.