Principal Financial Group Inc. lessened its stake in Kirby Co. (NYSE:KEX - Free Report) by 31.0% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 134,022 shares of the shipping company's stock after selling 60,098 shares during the period. Principal Financial Group Inc. owned approximately 0.23% of Kirby worth $16,408,000 at the end of the most recent quarter.
Other institutional investors and hedge funds have also recently modified their holdings of the company. Farther Finance Advisors LLC increased its position in Kirby by 420.0% during the third quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company's stock valued at $25,000 after acquiring an additional 168 shares during the last quarter. International Assets Investment Management LLC bought a new position in Kirby during the 2nd quarter valued at about $26,000. ORG Wealth Partners LLC purchased a new stake in Kirby in the 3rd quarter worth about $30,000. ORG Partners LLC bought a new stake in Kirby in the second quarter worth about $32,000. Finally, Opal Wealth Advisors LLC purchased a new position in shares of Kirby during the second quarter valued at approximately $33,000. 96.15% of the stock is currently owned by hedge funds and other institutional investors.
Kirby Stock Performance
NYSE:KEX opened at $128.05 on Friday. The firm has a 50-day moving average price of $122.17 and a two-hundred day moving average price of $119.61. The company has a market capitalization of $7.35 billion, a P/E ratio of 24.58, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17. Kirby Co. has a twelve month low of $72.11 and a twelve month high of $132.04. The company has a current ratio of 1.67, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29.
Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings data 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 last year, the business posted $1.05 EPS. The company's quarterly revenue was up 8.7% compared to the same quarter last year. As a group, research analysts expect that Kirby Co. will post 5.44 earnings per share for the current fiscal year.
Insider Activity
In other Kirby news, VP Amy D. Husted sold 2,853 shares of the firm's 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 sale, 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 ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David W. Grzebinski sold 26,358 shares of the business's stock in a transaction 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 transaction, the chief executive officer now owns 63,399 shares of the company's stock, valued at $7,637,043.54. This trade represents a 29.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders sold 60,596 shares of company stock worth $7,515,760. 1.50% of the stock is currently owned by insiders.
Wall Street Analyst Weigh In
KEX has been the topic of several research analyst reports. StockNews.com cut Kirby from a "buy" rating to a "hold" rating in a research note on Sunday, September 22nd. Bank of America upped their price objective on shares of Kirby from $138.00 to $141.00 and gave the stock a "buy" rating in a research note on Tuesday, July 23rd. One research analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. Based on data from MarketBeat, the company has an average rating of "Moderate Buy" and a consensus target price of $123.80.
Check Out Our Latest Stock Analysis on Kirby
About Kirby
(
Free Report)
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.
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