Kirby Corporation $KEX Shares Sold by Charles Schwab Investment Management Inc.

Charles Schwab Investment Management Inc. lowered its holdings in Kirby Corporation (NYSE:KEX) by 0.1% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 685,948 shares of the shipping company’s stock after selling 590 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.22% of Kirby worth $77,793,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Thurston Springer Miller Herd & Titak Inc. lifted its stake in shares of Kirby by 244.8% in the second quarter. Thurston Springer Miller Herd & Titak Inc. now owns 231 shares of the shipping company’s stock valued at $26,000 after purchasing an additional 164 shares during the period. Maseco LLP purchased a new position in Kirby in the second quarter valued at about $28,000. IFP Advisors Inc acquired a new stake in shares of Kirby during the 2nd quarter valued at approximately $29,000. Bell Investment Advisors Inc boosted its stake in shares of Kirby by 67.1% during the 2nd quarter. Bell Investment Advisors Inc now owns 284 shares of the shipping company’s stock worth $32,000 after acquiring an additional 114 shares in the last quarter. Finally, Parallel Advisors LLC grew its holdings in shares of Kirby by 49.4% in the 2nd quarter. Parallel Advisors LLC now owns 366 shares of the shipping company’s stock worth $42,000 after acquiring an additional 121 shares during the period. 96.15% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other Kirby news, CEO David W. Grzebinski sold 29,451 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $107.41, for a total transaction of $3,163,331.91. Following the transaction, the chief executive officer owned 79,709 shares of the company’s stock, valued at $8,561,543.69. This represents a 26.98% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this link. Also, VP Ronald A. Dragg sold 2,715 shares of Kirby stock in a transaction on Wednesday, November 12th. The shares were sold at an average price of $110.29, for a total value of $299,437.35. Following the completion of the sale, the vice president directly owned 10,325 shares of the company’s stock, valued at approximately $1,138,744.25. This represents a 20.82% decrease in their position. The disclosure for this sale is available in the SEC filing. In the last quarter, insiders sold 44,502 shares of company stock worth $4,788,691. 0.90% of the stock is owned by company insiders.

Kirby Price Performance

NYSE:KEX opened at $113.56 on Friday. Kirby Corporation has a 12-month low of $79.51 and a 12-month high of $127.57. The firm has a market cap of $6.16 billion, a price-to-earnings ratio of 21.07, a price-to-earnings-growth ratio of 1.05 and a beta of 1.05. The company’s 50-day moving average is $95.15 and its two-hundred day moving average is $102.10. The company has a current ratio of 1.74, a quick ratio of 1.12 and a debt-to-equity ratio of 0.33.

Kirby (NYSE:KEX) last posted its quarterly earnings data on Wednesday, October 29th. The shipping company reported $1.65 earnings per share for the quarter, beating analysts’ consensus estimates of $1.60 by $0.05. Kirby had a net margin of 9.22% and a return on equity of 10.06%. The business had revenue of $871.16 million during the quarter, compared to analyst estimates of $843.29 million. During the same quarter in the previous year, the business posted $1.55 earnings per share. The company’s revenue was up 4.8% on a year-over-year basis. Research analysts expect that Kirby Corporation will post 6.57 EPS for the current year.

Wall Street Analyst Weigh In

Several brokerages recently issued reports on KEX. Citigroup raised Kirby from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $110.00 to $128.00 in a report on Wednesday, November 5th. Bank of America cut their price target on Kirby from $110.00 to $107.00 and set a “buy” rating for the company in a research note on Wednesday, September 3rd. Weiss Ratings reissued a “hold (c+)” rating on shares of Kirby in a research note on Wednesday, October 8th. BTIG Research restated a “buy” rating and set a $125.00 target price on shares of Kirby in a report on Thursday, September 18th. Finally, Evercore ISI upped their price target on shares of Kirby from $109.00 to $122.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of “Moderate Buy” and an average target price of $123.40.

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.