LPL Financial LLC Grows Stake in Kirby Co. (NYSE:KEX)

LPL Financial LLC boosted its holdings in shares of Kirby Co. (NYSE:KEX) by 43.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,054 shares of the shipping company’s stock after buying an additional 2,149 shares during the period. LPL Financial LLC’s holdings in Kirby were worth $746,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Victory Capital Management Inc. grew its stake in Kirby by 10.2% during the 4th quarter. Victory Capital Management Inc. now owns 525,708 shares of the shipping company’s stock valued at $55,620,000 after purchasing an additional 48,475 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in Kirby by 2.6% in the 4th quarter. Bank of New York Mellon Corp now owns 415,042 shares of the shipping company’s stock worth $43,911,000 after buying an additional 10,486 shares during the period. Artemis Investment Management LLP raised its position in Kirby by 112.0% during the 4th quarter. Artemis Investment Management LLP now owns 382,835 shares of the shipping company’s stock worth $40,504,000 after buying an additional 202,272 shares during the last quarter. Primecap Management Co. CA lifted its stake in Kirby by 0.8% during the 4th quarter. Primecap Management Co. CA now owns 270,150 shares of the shipping company’s stock valued at $28,582,000 after acquiring an additional 2,150 shares during the period. Finally, Allspring Global Investments Holdings LLC boosted its holdings in shares of Kirby by 92.5% in the 4th quarter. Allspring Global Investments Holdings LLC now owns 221,460 shares of the shipping company’s stock valued at $23,247,000 after acquiring an additional 106,411 shares during the last quarter. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at Kirby

In other Kirby news, VP Scott P. Miller sold 1,244 shares of the company’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 in the company, valued at $596,697.45. This represents a 18.32 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 0.90% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts recently issued reports on the stock. Stifel Nicolaus reduced their target price on shares of Kirby from $136.00 to $135.00 and set a “buy” rating for the company in a report on Friday, January 31st. 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, StockNews.com cut shares of Kirby from a “buy” rating to a “hold” rating in a research note on Thursday, January 9th.

Kirby Price Performance

Shares of NYSE KEX opened at $94.85 on Wednesday. Kirby Co. has a one year low of $83.94 and a one year high of $132.21. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.05 and a current ratio of 1.45. The firm has a fifty day moving average of $98.92 and a 200 day moving average of $110.04. The firm has a market cap of $5.40 billion, a PE ratio of 19.32, a PEG ratio of 0.88 and a beta of 0.99.

Kirby (NYSE:KEX) last posted its quarterly earnings data on Thursday, January 30th. The shipping company reported $1.29 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, research analysts predict that Kirby Co. will post 6.57 EPS for the current fiscal 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.