IFP Advisors Inc Makes New $29,000 Investment in Kirby Corporation $KEX

IFP Advisors Inc acquired a new position in shares of Kirby Corporation (NYSE:KEX) during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor acquired 257 shares of the shipping company’s stock, valued at approximately $29,000.

A number of other large investors have also added to or reduced their stakes in the company. Tectonic Advisors LLC lifted its stake in shares of Kirby by 19.1% in the 2nd quarter. Tectonic Advisors LLC now owns 101,499 shares of the shipping company’s stock valued at $11,511,000 after acquiring an additional 16,311 shares during the last quarter. Optas LLC bought a new stake in shares of Kirby during the 2nd quarter valued at about $215,000. KLP Kapitalforvaltning AS increased its position in shares of Kirby by 72.7% during the second quarter. KLP Kapitalforvaltning AS now owns 5,700 shares of the shipping company’s stock valued at $646,000 after buying an additional 2,400 shares during the period. DAVENPORT & Co LLC boosted its position in shares of Kirby by 7.8% during the second quarter. DAVENPORT & Co LLC now owns 203,308 shares of the shipping company’s stock valued at $23,057,000 after purchasing an additional 14,695 shares in the last quarter. Finally, Simplicity Wealth LLC increased its stake in shares of Kirby by 25.8% in the 2nd quarter. Simplicity Wealth LLC now owns 9,204 shares of the shipping company’s stock worth $1,044,000 after acquiring an additional 1,885 shares in the last quarter. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Kirby Stock Performance

Shares of NYSE:KEX opened at $85.51 on Thursday. The firm has a fifty day simple moving average of $88.40 and a two-hundred day simple moving average of $100.67. Kirby Corporation has a 52 week low of $79.51 and a 52 week high of $132.21. The stock has a market capitalization of $4.77 billion, a P/E ratio of 16.17, a PEG ratio of 0.90 and a beta of 1.00. The company has a quick ratio of 1.12, a current ratio of 1.74 and a debt-to-equity ratio of 0.33.

Kirby (NYSE:KEX) last announced its quarterly earnings data on Thursday, July 31st. The shipping company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.08. Kirby had a net margin of 9.25% and a return on equity of 10.02%. The business had revenue of $855.46 million during the quarter, compared to the consensus estimate of $851.94 million. During the same quarter last year, the firm earned $1.43 earnings per share. The firm’s quarterly revenue was up 3.8% compared to the same quarter last year. On average, analysts expect that Kirby Corporation will post 6.57 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several equities analysts have recently issued reports on the company. Citigroup initiated coverage on Kirby in a research report on Monday, September 22nd. They issued a “neutral” rating and a $91.00 price target for the company. BTIG Research restated a “buy” rating and set a $125.00 target price on shares of Kirby in a research note on Thursday, September 18th. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kirby in a report on Wednesday, October 8th. Zacks Research raised Kirby from a “strong sell” rating to a “hold” rating in a report on Wednesday, September 3rd. Finally, Bank of America cut their target price on shares of Kirby from $110.00 to $107.00 and set a “buy” rating for the company in a research report on Wednesday, September 3rd. Four investment analysts have rated the stock with a Buy rating and three have given a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $113.40.

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.