Janus Henderson Group PLC Sells 226,509 Shares of Kirby Co. (NYSE:KEX)

Janus Henderson Group PLC trimmed its position in shares of Kirby Co. (NYSE:KEX - Free Report) by 29.1% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 551,640 shares of the shipping company's stock after selling 226,509 shares during the period. Janus Henderson Group PLC owned approximately 0.96% of Kirby worth $67,537,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KEX. Encompass Capital Advisors LLC grew its stake in Kirby by 33.9% during the 2nd quarter. Encompass Capital Advisors LLC now owns 887,384 shares of the shipping company's stock worth $106,246,000 after buying an additional 224,802 shares during the last quarter. Hood River Capital Management LLC lifted its holdings in Kirby by 5.7% in the second quarter. Hood River Capital Management LLC now owns 812,283 shares of the shipping company's stock worth $97,255,000 after purchasing an additional 43,685 shares during the period. Charles Schwab Investment Management Inc. grew its position in Kirby by 27.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 699,052 shares of the shipping company's stock valued at $85,585,000 after buying an additional 152,146 shares in the last quarter. Select Equity Group L.P. acquired a new position in Kirby during the 2nd quarter valued at about $65,928,000. Finally, Millennium Management LLC raised its position in shares of Kirby by 13.1% during the 2nd quarter. Millennium Management LLC now owns 533,326 shares of the shipping company's stock worth $63,855,000 after buying an additional 61,573 shares in the last quarter. Hedge funds and other institutional investors own 96.15% of the company's stock.

Insider Activity at Kirby

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 approximately $7,637,043.54. The trade was a 29.37 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, VP Amy D. Husted sold 2,853 shares of the stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $126.54, for a total value of $361,018.62. Following the transaction, the vice president now owns 5,280 shares in the company, valued at approximately $668,131.20. This trade represents a 35.08 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 68,596 shares of company stock valued at $8,541,440. 1.50% of the stock is owned by corporate insiders.

Kirby Stock Down 0.9 %

NYSE:KEX traded down $1.14 on Friday, hitting $118.98. 384,210 shares of the company's stock traded hands, compared to its average volume of 455,684. The firm has a 50-day moving average price of $124.03 and a 200-day moving average price of $121.02. 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 company has a market cap of $6.83 billion, a PE ratio of 22.84, a price-to-earnings-growth ratio of 0.73 and a beta of 1.18. Kirby Co. has a 1 year low of $72.11 and a 1 year high of $132.21.

Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings data on Wednesday, October 30th. The shipping company reported $1.55 earnings per share (EPS) for the quarter, beating 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 firm had revenue of $831.10 million during the quarter, compared to analysts' expectations of $824.42 million. During the same quarter last year, the firm earned $1.05 earnings per share. The business's revenue for the quarter was up 8.7% on a year-over-year basis. Equities analysts anticipate that Kirby Co. will post 5.45 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Separately, StockNews.com lowered shares of Kirby from a "buy" rating to a "hold" rating in a research note on Sunday, September 22nd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Moderate Buy" and a consensus target price of $123.80.

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.