Kirby Corporation $KEX Shares Purchased by EFG Asset Management North America Corp.

EFG Asset Management North America Corp. raised its position in Kirby Corporation (NYSE:KEX) by 25.1% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 31,568 shares of the shipping company’s stock after buying an additional 6,338 shares during the period. EFG Asset Management North America Corp. owned about 0.06% of Kirby worth $2,633,000 at the end of the most recent reporting period.

A number of other hedge funds have also made changes to their positions in the company. Ethic Inc. boosted its stake in shares of Kirby by 3.1% in the second quarter. Ethic Inc. now owns 3,236 shares of the shipping company’s stock worth $372,000 after acquiring an additional 98 shares during the last quarter. Bell Investment Advisors Inc boosted its stake in 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 purchasing an additional 114 shares during the last quarter. Hantz Financial Services Inc. grew its holdings in shares of Kirby by 38.1% during the second quarter. Hantz Financial Services Inc. now owns 453 shares of the shipping company’s stock worth $51,000 after buying an additional 125 shares in the last quarter. Wedbush Securities Inc. grew its holdings in shares of Kirby by 4.5% during the second quarter. Wedbush Securities Inc. now owns 2,946 shares of the shipping company’s stock worth $334,000 after buying an additional 128 shares in the last quarter. Finally, GAMMA Investing LLC lifted its stake in shares of Kirby by 21.9% in the second quarter. GAMMA Investing LLC now owns 819 shares of the shipping company’s stock worth $93,000 after buying an additional 147 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.

Insider Activity

In related news, VP Amy D. Husted sold 10,413 shares of the firm’s stock in a transaction dated Friday, November 21st. The stock was sold at an average price of $107.42, for a total transaction of $1,118,564.46. Following the completion of the transaction, the vice president directly owned 11,760 shares in the company, valued at $1,263,259.20. This trade represents a 46.96% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, CEO David W. Grzebinski sold 29,451 shares of the business’s stock in a transaction dated 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 sale, the chief executive officer owned 79,709 shares in the company, valued at $8,561,543.69. This trade represents a 26.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold 57,147 shares of company stock worth $6,204,544 in the last quarter. Insiders own 0.90% of the company’s stock.

Kirby Price Performance

Shares of KEX opened at $128.53 on Wednesday. The firm has a 50-day simple moving average of $116.06 and a two-hundred day simple moving average of $103.38. The stock has a market cap of $6.97 billion, a PE ratio of 23.85, a P/E/G ratio of 1.11 and a beta of 0.88. Kirby Corporation has a 1-year low of $79.51 and a 1-year high of $132.18. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.70 and a quick ratio of 1.08.

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, topping analysts’ consensus estimates of $1.60 by $0.05. The firm had revenue of $871.16 million during the quarter, compared to analysts’ expectations of $843.29 million. Kirby had a net margin of 9.22% and a return on equity of 10.05%. The firm’s quarterly revenue was up 4.8% on a year-over-year basis. During the same quarter last year, the company posted $1.55 EPS. As a group, analysts forecast that Kirby Corporation will post 6.57 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on KEX shares. BTIG Research increased their price objective on shares of Kirby from $125.00 to $140.00 and gave the company a “buy” rating in a report on Thursday, January 15th. Wolfe Research reaffirmed an “outperform” rating and issued a $134.00 price target on shares of Kirby in a report on Thursday, January 8th. Weiss Ratings reissued a “hold (c+)” rating on shares of Kirby in a research note on Thursday, January 22nd. Evercore ISI upped their target price on Kirby from $109.00 to $122.00 and gave the company an “outperform” rating in a report on Thursday, October 30th. Finally, Wall Street Zen upgraded Kirby from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. Six investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Moderate Buy” and a consensus price target of $130.50.

Kirby Company Profile

Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America’s largest fleets of inland tank barges and towing vessels. Kirby’s fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.

In addition to its marine operations, Kirby’s Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.