Kirby Corporation $KEX Shares Sold by Wealth Enhancement Advisory Services LLC

Wealth Enhancement Advisory Services LLC lowered its stake in shares of Kirby Corporation (NYSE:KEX) by 57.8% in the third quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 4,827 shares of the shipping company’s stock after selling 6,607 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in Kirby were worth $394,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of KEX. Goldman Sachs Group Inc. boosted its stake in Kirby by 30.4% during the 1st quarter. Goldman Sachs Group Inc. now owns 491,355 shares of the shipping company’s stock valued at $49,632,000 after purchasing an additional 114,618 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its stake in Kirby by 152.7% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,565 shares of the shipping company’s stock valued at $18,441,000 after acquiring an additional 110,320 shares in the last quarter. KLP Kapitalforvaltning AS grew its position in 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 purchasing an additional 2,400 shares in the last quarter. Optas LLC purchased a new position in shares of Kirby during the 2nd quarter valued at $215,000. Finally, IFP Advisors Inc acquired a new position in Kirby in the 2nd quarter worth about $29,000. 96.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

KEX has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of Kirby from a “hold” rating to a “buy” rating in a report on Saturday, November 1st. BTIG Research reduced their price target on Kirby from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, January 29th. Wolfe Research reiterated an “outperform” rating and set a $136.00 price target on shares of Kirby in a research note on Friday, January 30th. Weiss Ratings reissued a “hold (c+)” rating on shares of Kirby in a research note on Thursday, January 22nd. Finally, Citigroup boosted their target price on Kirby from $145.00 to $147.00 and gave the stock a “buy” rating in a report on Friday, January 30th. Five equities research analysts have rated the stock with a Buy rating and two have given a Hold rating to the stock. According to data from MarketBeat.com, Kirby has an average rating of “Moderate Buy” and a consensus target price of $129.40.

Kirby Price Performance

NYSE KEX opened at $122.61 on Friday. The company has a debt-to-equity ratio of 0.31, a quick ratio of 1.08 and a current ratio of 1.70. The stock has a 50-day simple moving average of $117.87 and a 200 day simple moving average of $103.80. The stock has a market capitalization of $6.65 billion, a PE ratio of 19.37, a P/E/G ratio of 1.08 and a beta of 0.88. Kirby Corporation has a twelve month low of $79.51 and a twelve month high of $132.18.

Kirby (NYSE:KEX) last posted its quarterly earnings data on Thursday, January 29th. The shipping company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.06. The company had revenue of $851.78 million during the quarter, compared to analysts’ expectations of $857.82 million. Kirby had a return on equity of 10.55% and a net margin of 10.54%.Kirby’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same period in the prior year, the business earned $1.29 earnings per share. Research analysts anticipate that Kirby Corporation will post 6.57 EPS for the current year.

Insider Buying and Selling

In related news, CEO David W. Grzebinski sold 29,451 shares of the stock in a transaction dated Friday, November 21st. The shares were sold at an average price of $107.41, for a total value of $3,163,331.91. Following the completion of the sale, the chief executive officer owned 79,709 shares in the company, valued at approximately $8,561,543.69. This trade represents a 26.98% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO Christian G. O’neil sold 11,145 shares of the business’s stock in a transaction dated Monday, December 22nd. The shares were sold at an average price of $111.68, for a total value of $1,244,673.60. Following the transaction, the chief operating officer owned 14,835 shares in the company, valued at $1,656,772.80. This represents a 42.90% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Over the last ninety days, insiders sold 62,576 shares of company stock worth $6,866,882. 0.90% of the stock is currently owned by corporate insiders.

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.