Envestnet Asset Management Inc. Sells 4,055 Shares of Kirby Co. (NYSE:KEX)

Envestnet Asset Management Inc. trimmed its stake in shares of Kirby Co. (NYSE:KEX - Free Report) by 5.2% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 73,717 shares of the shipping company's stock after selling 4,055 shares during the period. Envestnet Asset Management Inc. owned about 0.13% of Kirby worth $7,799,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Sanctuary Advisors LLC boosted its holdings in shares of Kirby by 20.3% in the third quarter. Sanctuary Advisors LLC now owns 10,420 shares of the shipping company's stock worth $1,337,000 after buying an additional 1,758 shares during the period. Wilmington Savings Fund Society FSB boosted its stake in Kirby by 112.4% in the 3rd quarter. Wilmington Savings Fund Society FSB now owns 5,208 shares of the shipping company's stock worth $638,000 after purchasing an additional 2,756 shares during the period. Franklin Resources Inc. purchased a new position in Kirby during the 3rd quarter worth approximately $5,136,000. JPMorgan Chase & Co. raised its position in Kirby by 27.5% during the third quarter. JPMorgan Chase & Co. now owns 142,265 shares of the shipping company's stock valued at $17,418,000 after buying an additional 30,713 shares during the period. Finally, First Hawaiian Bank increased its holdings in shares of Kirby by 17.2% in the 4th quarter. First Hawaiian Bank now owns 23,524 shares of the shipping company's stock valued at $2,489,000 after purchasing an additional 3,459 shares during the period. Institutional investors and hedge funds own 96.15% of the company's stock.

Insider Activity

In other Kirby news, VP Scott P. Miller sold 1,244 shares of the business's stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $107.61, for a total transaction of $133,866.84. Following the completion of the transaction, the vice president now owns 5,545 shares of the company's stock, valued at $596,697.45. The trade was a 18.32 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.90% of the company's stock.

Kirby Stock Up 1.1 %

NYSE:KEX traded up $1.06 during trading hours on Wednesday, reaching $95.83. The company's stock had a trading volume of 211,089 shares, compared to its average volume of 541,389. Kirby Co. has a one year low of $83.94 and a one year high of $132.21. The business's 50-day moving average is $98.92 and its 200-day moving average is $110.04. 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 company has a market cap of $5.45 billion, a price-to-earnings ratio of 19.52, a price-to-earnings-growth ratio of 0.88 and a beta of 0.99.

Kirby (NYSE:KEX - Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The shipping company reported $1.29 EPS 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%. Equities research analysts predict that Kirby Co. will post 6.57 EPS for the current year.

Analyst Upgrades and Downgrades

A number of equities research analysts have issued reports on KEX shares. Bank of America decreased their target price on shares of Kirby from $133.00 to $123.00 and set a "buy" rating for the company in a research note on Friday, March 28th. Stifel Nicolaus lowered their price target on Kirby from $136.00 to $135.00 and set a "buy" rating for the company in a research note on Friday, January 31st. Finally, StockNews.com downgraded Kirby from a "buy" rating to a "hold" rating in a report on Thursday, January 9th.

Kirby Company 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.