PNC Financial Services Group Inc. Has $179,000 Stake in World Kinect Corporation $WKC

PNC Financial Services Group Inc. lifted its holdings in World Kinect Corporation (NYSE:WKC) by 86.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 6,307 shares of the company’s stock after acquiring an additional 2,925 shares during the quarter. PNC Financial Services Group Inc.’s holdings in World Kinect were worth $179,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of the business. EP Wealth Advisors LLC increased its stake in shares of World Kinect by 17.0% in the 4th quarter. EP Wealth Advisors LLC now owns 7,604 shares of the company’s stock valued at $209,000 after buying an additional 1,104 shares during the period. Eukles Asset Management increased its position in World Kinect by 17.6% in the first quarter. Eukles Asset Management now owns 7,800 shares of the company’s stock worth $221,000 after purchasing an additional 1,165 shares during the period. Quantinno Capital Management LP bought a new stake in World Kinect during the 4th quarter worth about $224,000. Cetera Investment Advisers acquired a new position in World Kinect during the 4th quarter valued at about $242,000. Finally, Syon Capital LLC acquired a new position in World Kinect during the 4th quarter valued at about $273,000. 97.06% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on the stock. Raymond James Financial reissued an “outperform” rating and set a $33.00 price target (down from $35.00) on shares of World Kinect in a research note on Friday, August 1st. Bank of America cut their price target on World Kinect from $27.00 to $26.00 and set an “underperform” rating on the stock in a research note on Friday, April 25th. Finally, Morgan Stanley decreased their price objective on World Kinect from $32.00 to $26.00 and set an “underweight” rating for the company in a research note on Wednesday, August 6th. Two analysts have rated the stock with a sell rating, two have assigned a hold rating and one has assigned a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $29.40.

World Kinect Price Performance

Shares of WKC stock opened at $25.59 on Tuesday. The firm has a fifty day moving average of $27.70 and a 200-day moving average of $27.30. The company has a quick ratio of 0.98, a current ratio of 1.13 and a debt-to-equity ratio of 0.48. The firm has a market capitalization of $1.42 billion, a price-to-earnings ratio of -3.35, a price-to-earnings-growth ratio of 1.15 and a beta of 1.39. World Kinect Corporation has a 12-month low of $22.70 and a 12-month high of $31.70.

World Kinect (NYSE:WKC) last posted its earnings results on Thursday, July 31st. The company reported $0.59 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.48 by $0.11. World Kinect had a positive return on equity of 7.07% and a negative net margin of 1.11%. The business had revenue of $9.04 billion during the quarter, compared to analysts’ expectations of $9.32 billion. On average, equities research analysts forecast that World Kinect Corporation will post 2.56 earnings per share for the current year.

World Kinect Increases Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, July 16th. Investors of record on Tuesday, June 17th were issued a dividend of $0.20 per share. The ex-dividend date was Tuesday, June 17th. This is a boost from World Kinect’s previous quarterly dividend of $0.17. This represents a $0.80 dividend on an annualized basis and a dividend yield of 3.1%. World Kinect’s dividend payout ratio is -10.48%.

World Kinect Company Profile

World Kinect Corporation operates as an energy management company in the United States, the Americas, Europe, the Middle East, Africa, and the Asia Pacific. This segment also offers fuel management, price risk management, ground handling, dispatch services, and trip planning services, such as flight planning and scheduling, weather reports and overflight permits; payment and processing services; and operates a web-based marketplace platform.