ProShare Advisors LLC Sells 134 Shares of Kirby Co. (NYSE:KEX)

ProShare Advisors LLC trimmed its position in Kirby Co. (NYSE:KEX) by 4.6% during the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 2,749 shares of the shipping company’s stock after selling 134 shares during the period. ProShare Advisors LLC’s holdings in Kirby were worth $329,000 at the end of the most recent quarter.

A number of other institutional investors also recently modified their holdings of the company. International Assets Investment Management LLC acquired a new stake in shares of Kirby in the second quarter valued at about $26,000. ORG Partners LLC acquired a new stake in shares of Kirby in the second quarter valued at about $32,000. Opal Wealth Advisors LLC acquired a new stake in shares of Kirby in the second quarter valued at about $33,000. Blue Trust Inc. increased its position in shares of Kirby by 91.0% in the second quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock valued at $35,000 after acquiring an additional 141 shares during the last quarter. Finally, Mark Sheptoff Financial Planning LLC acquired a new stake in shares of Kirby in the second quarter valued at about $37,000. 96.15% of the stock is currently owned by institutional investors.

Kirby Price Performance

Shares of NYSE KEX opened at $122.67 on Thursday. The business’s 50 day moving average price is $118.36 and its two-hundred day moving average price is $114.11. The company has a market cap of $7.18 billion, a PE ratio of 29.00, a price-to-earnings-growth ratio of 0.77 and a beta of 1.17. The company has a quick ratio of 1.05, a current ratio of 1.70 and a debt-to-equity ratio of 0.32. Kirby Co. has a twelve month low of $72.11 and a twelve month high of $130.90.

Kirby (NYSE:KEX) last announced its quarterly earnings results on Thursday, August 1st. The shipping company reported $1.43 earnings per share for the quarter, topping analysts’ consensus estimates of $1.32 by $0.11. Kirby had a return on equity of 8.70% and a net margin of 8.72%. The firm had revenue of $824.40 million for the quarter, compared to the consensus estimate of $821.65 million. During the same quarter in the previous year, the business earned $0.95 earnings per share. The business’s revenue was up 6.1% compared to the same quarter last year. On average, analysts predict that Kirby Co. will post 5.46 EPS for the current year.

Analyst Ratings Changes

A number of analysts recently issued reports on KEX shares. Bank of America lifted their target price on Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a research report on Tuesday, July 23rd. StockNews.com downgraded Kirby from a “buy” rating to a “hold” rating in a research report on Sunday, September 22nd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Moderate Buy” and an average price target of $123.80.

Insider Transactions at Kirby

In other news, COO Christian G. O’neil sold 2,770 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now owns 16,079 shares in the company, valued at $1,772,066.59. The sale was disclosed in a filing with the SEC, which is available at this hyperlink. In related news, CEO David W. Grzebinski sold 26,358 shares of the business’s stock in a transaction that occurred on Monday, September 16th. The stock was sold at an average price of $120.46, for a total value of $3,175,084.68. Following the completion of the sale, the chief executive officer now directly owns 63,399 shares in the company, valued at $7,637,043.54. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO Christian G. O’neil sold 2,770 shares of the business’s stock in a transaction that occurred on Monday, August 5th. The shares were sold at an average price of $110.21, for a total value of $305,281.70. Following the completion of the sale, the chief operating officer now owns 16,079 shares of the company’s stock, valued at $1,772,066.59. The disclosure for this sale can be found here. Insiders sold a total of 46,012 shares of company stock worth $5,571,267 over the last quarter. Company 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.