Great Lakes Advisors LLC Has $13.61 Million Holdings in Kirby Co. (NYSE:KEX)

Great Lakes Advisors LLC reduced its holdings in Kirby Co. (NYSE:KEX - Free Report) by 3.0% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 128,616 shares of the shipping company's stock after selling 3,921 shares during the quarter. Great Lakes Advisors LLC owned approximately 0.22% of Kirby worth $13,608,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also modified their holdings of the business. Farther Finance Advisors LLC raised its position in Kirby by 420.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company's stock worth $25,000 after purchasing an additional 168 shares during the last quarter. Empowered Funds LLC bought a new position in Kirby in the 4th quarter worth approximately $25,000. Brooklyn Investment Group bought a new position in Kirby in the 3rd quarter worth approximately $42,000. R Squared Ltd bought a new position in Kirby in the 4th quarter worth approximately $76,000. Finally, Virtus Fund Advisers LLC raised its position in Kirby by 38.8% in the 3rd quarter. Virtus Fund Advisers LLC now owns 833 shares of the shipping company's stock worth $102,000 after purchasing an additional 233 shares during the last quarter. 96.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Remove Ads

Insider Activity

In related news, VP Scott P. Miller sold 1,244 shares of the firm's stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $107.61, for a total transaction of $133,866.84. Following the sale, the vice president now owns 5,545 shares of the company's stock, valued at approximately $596,697.45. This trade represents a 18.32 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.50% of the stock is currently owned by company insiders.

Kirby Trading Up 3.0 %

Shares of KEX stock traded up $2.88 during trading hours on Friday, reaching $99.05. The company had a trading volume of 500,040 shares, compared to its average volume of 515,340. The company has a 50 day moving average of $105.15 and a 200 day moving average of $114.68. The company has a debt-to-equity ratio of 0.26, a current ratio of 1.45 and a quick ratio of 1.05. The firm has a market cap of $5.64 billion, a price-to-earnings ratio of 20.17, a P/E/G ratio of 0.88 and a beta of 1.18. Kirby Co. has a 1-year low of $88.34 and a 1-year high of $132.21.

Kirby (NYSE:KEX - Get Free Report) last posted its quarterly earnings results on Thursday, January 30th. The shipping company reported $1.29 earnings per share for the quarter, missing analysts' consensus estimates of $1.30 by ($0.01). Kirby had a net margin of 8.78% and a return on equity of 9.71%. On average, equities research analysts anticipate that Kirby Co. will post 6.57 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.