New York State Common Retirement Fund Reduces Holdings in Kirby Co. (NYSE:KEX)

New York State Common Retirement Fund lowered its stake in Kirby Co. (NYSE:KEX - Free Report) by 28.8% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 25,960 shares of the shipping company's stock after selling 10,497 shares during the quarter. New York State Common Retirement Fund's holdings in Kirby were worth $2,747,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the stock. Artemis Investment Management LLP grew its stake in shares of Kirby by 112.0% in the 4th quarter. Artemis Investment Management LLP now owns 382,835 shares of the shipping company's stock valued at $40,504,000 after buying an additional 202,272 shares during the period. Victory Capital Management Inc. boosted its holdings in Kirby by 68.7% in the third quarter. Victory Capital Management Inc. now owns 477,233 shares of the shipping company's stock worth $58,428,000 after acquiring an additional 194,410 shares in the last quarter. DAVENPORT & Co LLC acquired a new stake in Kirby in the fourth quarter valued at approximately $16,390,000. Charles Schwab Investment Management Inc. increased its holdings in shares of Kirby by 27.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 699,052 shares of the shipping company's stock valued at $85,585,000 after acquiring an additional 152,146 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC raised its position in shares of Kirby by 92.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 221,460 shares of the shipping company's stock worth $23,247,000 after purchasing an additional 106,411 shares during the period. Institutional investors and hedge funds own 96.15% of the company's stock.

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Kirby Stock Up 0.8 %

NYSE:KEX traded up $0.77 during trading hours on Wednesday, hitting $99.65. 560,649 shares of the company traded hands, compared to its average volume of 675,849. The company has a quick ratio of 1.05, a current ratio of 1.45 and a debt-to-equity ratio of 0.26. The company has a market cap of $5.69 billion, a PE ratio of 20.30, a PEG ratio of 0.88 and a beta of 1.19. The firm's 50-day simple moving average is $106.40 and its 200-day simple moving average is $115.68. Kirby Co. has a one year low of $86.02 and a one year high of $132.21.

Kirby (NYSE:KEX - Get Free Report) last released its quarterly earnings results on Thursday, January 30th. The shipping company reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.01). Kirby had a return on equity of 9.71% and a net margin of 8.78%. Equities analysts predict that Kirby Co. will post 6.57 earnings per share for the current year.

Wall Street Analysts Forecast Growth

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

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 stock was sold at an average price of $107.61, for a total value of $133,866.84. Following the transaction, the vice president now owns 5,545 shares of the company's stock, valued at approximately $596,697.45. The trade was a 18.32 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 1.50% of the stock is currently owned by corporate insiders.

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.