Bank of Montreal Can Lowers Stock Holdings in Kirby Co. (NYSE:KEX)

Bank of Montreal Can lessened its stake in shares of Kirby Co. (NYSE:KEX) by 24.8% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 111,727 shares of the shipping company’s stock after selling 36,821 shares during the quarter. Bank of Montreal Can owned about 0.19% of Kirby worth $14,003,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC raised its position in Kirby by 420.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock worth $25,000 after buying an additional 168 shares during the last quarter. International Assets Investment Management LLC acquired a new stake in Kirby in the second quarter valued at about $26,000. ORG Wealth Partners LLC purchased a new stake in Kirby in the 3rd quarter valued at approximately $30,000. ORG Partners LLC acquired a new position in Kirby during the 2nd quarter worth approximately $32,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Kirby during the 2nd quarter worth approximately $33,000. 96.15% of the stock is owned by institutional investors and hedge funds.

Kirby Price Performance

KEX stock opened at $126.51 on Friday. The company has a market cap of $7.26 billion, a price-to-earnings ratio of 24.28, a PEG ratio of 0.75 and a beta of 1.17. The company has a current ratio of 1.67, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. The firm has a 50 day moving average of $124.16 and a 200-day moving average of $120.88. Kirby Co. has a 12-month low of $72.11 and a 12-month high of $132.21.

Kirby (NYSE:KEX) last posted its earnings results on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08. Kirby had a return on equity of 9.43% and a net margin of 9.37%. The company had revenue of $831.10 million for the quarter, compared to the consensus estimate of $824.42 million. During the same period in the previous year, the business earned $1.05 earnings per share. Kirby’s quarterly revenue was up 8.7% compared to the same quarter last year. As a group, equities analysts expect that Kirby Co. will post 5.45 EPS for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com lowered Kirby from a “buy” rating to a “hold” rating in a report on Sunday, September 22nd. One analyst has rated the stock with a hold rating and five have issued a buy rating to the company. According to MarketBeat, the stock has an average rating of “Moderate Buy” and an average price target of $123.80.

Insider Activity at Kirby

In other news, VP Ronald A. Dragg sold 2,313 shares of the firm’s stock in a transaction that occurred on Thursday, November 7th. The shares were sold at an average price of $127.30, for a total transaction of $294,444.90. Following the completion of the transaction, the vice president now directly owns 7,683 shares of the company’s stock, valued at $978,045.90. This trade represents a 23.14 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO Christian G. O’neil sold 15,041 shares of Kirby stock in a transaction that occurred on Tuesday, November 12th. The stock was sold at an average price of $130.00, for a total value of $1,955,330.00. Following the transaction, the chief operating officer now owns 7,746 shares of the company’s stock, valued at $1,006,980. This represents a 66.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 68,596 shares of company stock valued at $8,541,440. 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.