155,000 Shares in Kirby Co. (NYSE:KEX) Bought by DAVENPORT & Co LLC

DAVENPORT & Co LLC bought a new stake in Kirby Co. (NYSE:KEX - Free Report) during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 155,000 shares of the shipping company's stock, valued at approximately $16,390,000. DAVENPORT & Co LLC owned 0.27% of Kirby at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Quest Partners LLC grew its position in Kirby by 0.7% in the 3rd quarter. Quest Partners LLC now owns 12,462 shares of the shipping company's stock valued at $1,526,000 after buying an additional 89 shares during the last quarter. Americana Partners LLC boosted its holdings in shares of Kirby by 2.1% in the third quarter. Americana Partners LLC now owns 4,900 shares of the shipping company's stock valued at $600,000 after acquiring an additional 100 shares in the last quarter. Janney Montgomery Scott LLC increased its stake in shares of Kirby by 1.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 8,459 shares of the shipping company's stock worth $895,000 after acquiring an additional 108 shares during the period. Huntington National Bank lifted its position in Kirby by 8.5% in the third quarter. Huntington National Bank now owns 1,668 shares of the shipping company's stock valued at $204,000 after purchasing an additional 130 shares during the period. Finally, Creative Planning boosted its holdings in Kirby by 2.2% in the 3rd quarter. Creative Planning now owns 6,683 shares of the shipping company's stock valued at $818,000 after purchasing an additional 147 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company's stock.

Insider Activity at Kirby

In related news, Director Richard Ross Stewart sold 8,000 shares of the firm's stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $128.21, for a total value of $1,025,680.00. Following the sale, the director now directly owns 15,488 shares of the company's stock, valued at approximately $1,985,716.48. This trade represents a 34.06 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, COO Christian G. O'neil sold 15,041 shares of the business's stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $130.00, for a total transaction of $1,955,330.00. Following the completion of the sale, the chief operating officer now owns 7,746 shares of the company's stock, valued at approximately $1,006,980. The trade was a 66.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 24,285 shares of company stock valued at $3,114,877. Company insiders own 1.40% of the company's stock.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the company. StockNews.com downgraded Kirby from a "buy" rating to a "hold" rating in a research note on Thursday, January 9th. Stifel Nicolaus decreased their target price on shares of Kirby from $136.00 to $135.00 and set a "buy" rating on the stock in a research report on Friday, January 31st. One investment analyst has rated the stock with a hold rating and four have given a buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Moderate Buy" and a consensus price target of $129.25.

Kirby Price Performance

NYSE:KEX traded down $1.61 during mid-day trading on Thursday, hitting $107.09. 628,079 shares of the company's stock traded hands, compared to its average volume of 749,666. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.05 and a current ratio of 1.67. The company has a market cap of $6.15 billion, a PE ratio of 21.81, a price-to-earnings-growth ratio of 0.55 and a beta of 1.19. The firm's 50 day simple moving average is $110.68 and its 200 day simple moving average is $117.43. Kirby Co. has a 1 year low of $83.24 and a 1 year high of $132.21.

Kirby (NYSE:KEX - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The shipping company reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). Kirby had a return on equity of 9.78% and a net margin of 8.78%. Sell-side analysts expect that Kirby Co. will post 6.54 EPS for the current year.

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.