Kirby Corporation $KEX Shares Acquired by EverSource Wealth Advisors LLC

EverSource Wealth Advisors LLC lifted its holdings in shares of Kirby Corporation (NYSE:KEX) by 11.4% in the third quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 50,650 shares of the shipping company’s stock after buying an additional 5,189 shares during the period. EverSource Wealth Advisors LLC owned 0.09% of Kirby worth $4,227,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. First Horizon Corp acquired a new stake in shares of Kirby during the 3rd quarter worth approximately $30,000. Bell Investment Advisors Inc grew 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 buying an additional 114 shares during the last quarter. True Wealth Design LLC increased its position in Kirby by 466.7% in the second quarter. True Wealth Design LLC now owns 374 shares of the shipping company’s stock worth $42,000 after buying an additional 308 shares during the period. Frazier Financial Advisors LLC increased its position in Kirby by 559.3% in the third quarter. Frazier Financial Advisors LLC now owns 567 shares of the shipping company’s stock worth $47,000 after buying an additional 481 shares during the period. Finally, Hantz Financial Services Inc. lifted its stake in Kirby by 38.1% in the second quarter. Hantz Financial Services Inc. now owns 453 shares of the shipping company’s stock valued at $51,000 after buying an additional 125 shares during the last quarter. Institutional investors own 96.15% of the company’s stock.

Wall Street Analysts Forecast Growth

KEX has been the subject of several recent research reports. Evercore upped their price target on shares of Kirby from $109.00 to $122.00 and gave the stock an “outperform” rating in a research report on Thursday, October 30th. Zacks Research cut shares of Kirby from a “hold” rating to a “strong sell” rating in a research report on Thursday, February 12th. Citigroup raised their price target on shares of Kirby from $145.00 to $147.00 and gave the company a “buy” rating in a research note on Friday, January 30th. BTIG Research reduced their price objective on Kirby from $140.00 to $135.00 and set a “buy” rating for the company in a research report on Thursday, January 29th. Finally, Wolfe Research reissued an “outperform” rating and issued a $136.00 price objective on shares of Kirby in a report on Friday, January 30th. Six equities research analysts have rated the stock with a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Moderate Buy” and a consensus target price of $129.40.

Kirby Trading Up 1.6%

Shares of NYSE:KEX opened at $130.56 on Wednesday. The company has a 50 day moving average of $121.14 and a 200-day moving average of $105.25. The firm has a market cap of $7.00 billion, a P/E ratio of 20.63, a P/E/G ratio of 1.15 and a beta of 0.88. Kirby Corporation has a twelve month low of $79.51 and a twelve month high of $132.18. The company has a current ratio of 1.53, a quick ratio of 0.96 and a debt-to-equity ratio of 0.27.

Kirby (NYSE:KEX) last posted its quarterly earnings data on Thursday, January 29th. The shipping company reported $1.68 EPS for the quarter, beating analysts’ consensus estimates of $1.62 by $0.06. Kirby had a net margin of 10.54% and a return on equity of 10.53%. The business had revenue of $851.78 million for the quarter, compared to analyst estimates of $857.82 million. During the same quarter last year, the business earned $1.29 earnings per share. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. As a group, analysts anticipate that Kirby Corporation will post 6.57 earnings per share for the current fiscal year.

Insider Activity at Kirby

In related news, VP Amy D. Husted sold 11,667 shares of the firm’s stock in a transaction dated Friday, February 20th. The stock was sold at an average price of $129.33, for a total transaction of $1,508,893.11. Following the completion of the transaction, the vice president owned 14,814 shares of the company’s stock, valued at $1,915,894.62. This trade represents a 44.06% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, VP Scott P. Miller sold 3,960 shares of the business’s stock in a transaction dated Tuesday, February 10th. The stock was sold at an average price of $120.68, for a total transaction of $477,892.80. Following the completion of the sale, the vice president owned 3,565 shares in the company, valued at approximately $430,224.20. This trade represents a 52.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders sold 35,701 shares of company stock worth $4,308,738 in the last quarter. Company insiders own 0.90% of the company’s stock.

About Kirby

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.