Janney Montgomery Scott LLC Has $1.12 Million Stock Position in Kirby Corporation (NYSE:KEX)

Janney Montgomery Scott LLC raised its stake in Kirby Corporation (NYSE:KEX) by 30.9% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 11,075 shares of the shipping company’s stock after purchasing an additional 2,616 shares during the quarter. Janney Montgomery Scott LLC’s holdings in Kirby were worth $1,119,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also recently modified their holdings of KEX. Norges Bank purchased a new stake in shares of Kirby in the fourth quarter worth approximately $74,293,000. Select Equity Group L.P. raised its stake in shares of Kirby by 59.0% in the fourth quarter. Select Equity Group L.P. now owns 1,565,693 shares of the shipping company’s stock worth $165,650,000 after purchasing an additional 581,215 shares during the last quarter. First Trust Advisors LP raised its stake in shares of Kirby by 69.7% in the fourth quarter. First Trust Advisors LP now owns 876,292 shares of the shipping company’s stock worth $92,712,000 after purchasing an additional 359,770 shares during the last quarter. Franklin Resources Inc. raised its stake in shares of Kirby by 848.5% in the fourth quarter. Franklin Resources Inc. now owns 393,647 shares of the shipping company’s stock worth $41,648,000 after purchasing an additional 352,144 shares during the last quarter. Finally, Vaughan Nelson Investment Management L.P. raised its stake in shares of Kirby by 122.3% in the first quarter. Vaughan Nelson Investment Management L.P. now owns 633,812 shares of the shipping company’s stock worth $64,022,000 after purchasing an additional 348,665 shares during the last quarter. 96.15% of the stock is owned by hedge funds and other institutional investors.

Kirby Stock Performance

Shares of KEX opened at $115.07 on Friday. The company has a current ratio of 1.58, a quick ratio of 0.96 and a debt-to-equity ratio of 0.33. The company has a market capitalization of $6.46 billion, a price-to-earnings ratio of 22.79, a PEG ratio of 1.03 and a beta of 0.97. The stock has a 50 day moving average of $107.67 and a 200 day moving average of $104.88. Kirby Corporation has a 12 month low of $83.94 and a 12 month high of $132.21.

Kirby (NYSE:KEX) last issued its quarterly earnings results on Thursday, May 1st. The shipping company reported $1.33 EPS for the quarter, beating analysts’ consensus estimates of $1.27 by $0.06. The company had revenue of $785.66 million during the quarter, compared to the consensus estimate of $824.12 million. Kirby had a return on equity of 9.81% and a net margin of 9.02%. Kirby’s revenue was down 2.8% on a year-over-year basis. During the same period last year, the business posted $1.19 earnings per share. As a group, sell-side analysts forecast that Kirby Corporation will post 6.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

Separately, Bank of America increased their price objective on Kirby from $116.00 to $125.00 and gave the stock a “buy” rating in a research note on Friday, May 16th.

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.