Kirby Co. (NYSE:KEX) Shares Acquired by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its position in Kirby Co. (NYSE:KEX) by 237.0% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 81,782 shares of the shipping company’s stock after acquiring an additional 57,512 shares during the period. Allspring Global Investments Holdings LLC owned 0.14% of Kirby worth $9,792,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also recently made changes to their positions in the company. ORG Partners LLC acquired a new stake in Kirby during the 2nd quarter worth $32,000. Opal Wealth Advisors LLC purchased a new position in shares of Kirby in the second quarter worth about $33,000. Blue Trust Inc. boosted its position in Kirby by 91.0% during the second quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock worth $35,000 after acquiring an additional 141 shares during the last quarter. 1832 Asset Management L.P. grew its stake in Kirby by 56.1% during the 1st quarter. 1832 Asset Management L.P. now owns 398 shares of the shipping company’s stock valued at $38,000 after acquiring an additional 143 shares in the last quarter. Finally, Lazard Asset Management LLC acquired a new stake in Kirby in the 1st quarter valued at about $45,000. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently issued reports on KEX shares. Stifel Nicolaus upped their price target on Kirby from $131.00 to $132.00 and gave the company a “buy” rating in a research report on Tuesday, May 21st. Bank of America lifted their price target on Kirby from $138.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. Six equities research analysts have rated the stock with a buy rating, According to data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $123.80.

Kirby Price Performance

NYSE:KEX opened at $119.95 on Friday. The company has a market capitalization of $7.02 billion, a P/E ratio of 28.36, a P/E/G ratio of 0.70 and a beta of 1.18. The company has a quick ratio of 1.12, a current ratio of 1.81 and a debt-to-equity ratio of 0.33. Kirby Co. has a 52 week low of $72.11 and a 52 week high of $130.90. The stock’s fifty day moving average is $118.99 and its two-hundred day moving average is $108.67.

Kirby (NYSE:KEX) last posted its earnings results on Thursday, August 1st. The shipping company reported $1.43 EPS for the quarter, beating analysts’ consensus estimates of $1.32 by $0.11. The company had revenue of $824.40 million for the quarter, compared to analysts’ expectations of $821.65 million. Kirby had a net margin of 8.72% and a return on equity of 8.75%. Kirby’s revenue for the quarter was up 6.1% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.95 earnings per share. Equities analysts expect that Kirby Co. will post 5.3 EPS for the current year.

Insider Activity at Kirby

In other Kirby news, COO Christian G. O’neil sold 2,770 shares of the company’s stock in a transaction on Monday, August 5th. The stock was sold at an average price of $110.21, for a total transaction of $305,281.70. Following the transaction, the chief operating officer now directly owns 16,079 shares in the company, valued at $1,772,066.59. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In other Kirby news, COO Christian G. O’neil sold 2,770 shares of the business’s stock in a transaction dated Monday, August 5th. The shares were sold at an average price of $110.21, for a total transaction of $305,281.70. Following the sale, the chief operating officer now directly owns 16,079 shares in the company, valued at $1,772,066.59. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO David W. Grzebinski sold 3,000 shares of the firm’s stock in a transaction that occurred on Wednesday, June 26th. The shares were sold at an average price of $120.31, for a total transaction of $360,930.00. Following the completion of the transaction, the chief executive officer now directly owns 63,399 shares of the company’s stock, valued at approximately $7,627,533.69. The disclosure for this sale can be found here. In the last quarter, insiders sold 7,270 shares of company stock worth $845,462. Insiders own 1.50% of the company’s stock.

Kirby Profile

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.