DAVENPORT & Co LLC Sells 14,725 Shares of Kirby Corporation $KEX

DAVENPORT & Co LLC lowered its position in shares of Kirby Corporation (NYSE:KEX) by 5.6% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 249,218 shares of the shipping company’s stock after selling 14,725 shares during the period. DAVENPORT & Co LLC owned 0.46% of Kirby worth $27,657,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also bought and sold shares of the company. First Horizon Corp bought a new position in Kirby in the 3rd quarter valued at $30,000. Frazier Financial Advisors LLC increased its holdings in shares of 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 purchasing an additional 481 shares during the period. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in shares of Kirby in the third quarter worth $53,000. FNY Investment Advisers LLC purchased a new stake in shares of Kirby in the third quarter worth $56,000. Finally, Huntington National Bank boosted its stake in Kirby by 21.0% during the third quarter. Huntington National Bank now owns 932 shares of the shipping company’s stock valued at $78,000 after buying an additional 162 shares during the period. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Kirby Stock Down 0.4%

Shares of NYSE:KEX opened at $135.83 on Thursday. The firm has a market capitalization of $7.28 billion, a PE ratio of 21.46, a price-to-earnings-growth ratio of 1.22 and a beta of 0.83. The company has a debt-to-equity ratio of 0.27, a quick ratio of 0.96 and a current ratio of 1.53. Kirby Corporation has a 52-week low of $79.51 and a 52-week high of $137.96. The firm has a fifty day moving average of $126.98 and a 200 day moving average of $110.03.

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

Insider Activity

In other Kirby news, VP Scott P. Miller sold 3,960 shares of the company’s stock in a transaction that occurred on Tuesday, February 10th. The stock was sold at an average price of $120.68, for a total value of $477,892.80. Following the completion of the sale, the vice president owned 3,565 shares of the company’s stock, valued at $430,224.20. This represents a 52.62% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. Also, VP Amy D. Husted sold 11,667 shares of the stock in a transaction that occurred on Friday, February 20th. The shares were sold at an average price of $129.33, for a total transaction of $1,508,893.11. Following the transaction, the vice president owned 14,814 shares in the company, valued at $1,915,894.62. The trade was a 44.06% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 71,495 shares of company stock worth $9,226,173. 0.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

KEX has been the subject of several recent analyst reports. Wolfe Research restated an “outperform” rating and set a $136.00 target price on shares of Kirby in a research report on Friday, January 30th. BTIG Research dropped 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. Citigroup lifted their price target on Kirby from $145.00 to $147.00 and gave the company a “buy” rating in a research report on Friday, January 30th. Weiss Ratings cut shares of Kirby from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Tuesday, March 10th. Finally, Evercore reaffirmed an “outperform” rating and issued a $138.00 target price on shares of Kirby in a research note on Monday, March 9th. Five analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and an average price target of $132.60.

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.