DAVENPORT & Co LLC Has $22.03 Million Holdings in Kirby Corporation $KEX

DAVENPORT & Co LLC increased its holdings in Kirby Corporation (NYSE:KEX) by 29.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 263,943 shares of the shipping company’s stock after purchasing an additional 60,635 shares during the quarter. DAVENPORT & Co LLC’s holdings in Kirby were worth $22,026,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. Benson Investment Management Company Inc. acquired a new position in Kirby during the 3rd quarter worth about $3,303,000. Luminus Management LLC raised its position in shares of Kirby by 292.0% during the third quarter. Luminus Management LLC now owns 116,956 shares of the shipping company’s stock worth $9,760,000 after acquiring an additional 87,120 shares during the last quarter. Central Pacific Bank Trust Division raised its position in shares of Kirby by 10.4% during the third quarter. Central Pacific Bank Trust Division now owns 4,930 shares of the shipping company’s stock worth $411,000 after acquiring an additional 465 shares during the last quarter. Corient Private Wealth LLC lifted its stake in shares of Kirby by 1.4% in the second quarter. Corient Private Wealth LLC now owns 31,660 shares of the shipping company’s stock worth $3,591,000 after acquiring an additional 434 shares during the period. Finally, Texas Permanent School Fund Corp boosted its holdings in Kirby by 1.0% in the second quarter. Texas Permanent School Fund Corp now owns 35,200 shares of the shipping company’s stock valued at $3,992,000 after acquiring an additional 363 shares during the last quarter. 96.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on the stock. Bank of America decreased their price objective on shares of Kirby from $110.00 to $107.00 and set a “buy” rating for the company in a research report on Wednesday, September 3rd. Wall Street Zen raised Kirby from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of Kirby in a research report on Wednesday, October 8th. Citigroup raised their price objective on Kirby from $128.00 to $131.00 and gave the company a “buy” rating in a research note on Friday, December 19th. Finally, Zacks Research upgraded Kirby from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 3rd. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. Based on data from MarketBeat, Kirby presently has a consensus rating of “Moderate Buy” and an average target price of $124.00.

Insider Buying and Selling at Kirby

In other Kirby news, Director Richard Ross Stewart sold 1,923 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $107.83, for a total value of $207,357.09. Following the sale, the director directly owned 15,488 shares in the company, valued at $1,670,071.04. This represents a 11.04% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO David W. Grzebinski sold 29,451 shares of the stock in a transaction on Friday, November 21st. The stock was sold at an average price of $107.41, for a total value of $3,163,331.91. Following the completion of the sale, the chief executive officer owned 79,709 shares in the company, valued at $8,561,543.69. This trade represents a 26.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold a total of 46,002 shares of company stock worth $4,959,871 in the last ninety days. Insiders own 0.90% of the company’s stock.

Kirby Price Performance

Shares of NYSE:KEX opened at $110.84 on Thursday. Kirby Corporation has a twelve month low of $79.51 and a twelve month high of $122.50. The firm has a market capitalization of $6.01 billion, a PE ratio of 20.56, a P/E/G ratio of 1.09 and a beta of 0.88. The company has a quick ratio of 1.08, a current ratio of 1.70 and a debt-to-equity ratio of 0.31. The company has a 50-day moving average price of $105.36 and a two-hundred day moving average price of $102.28.

Kirby (NYSE:KEX) last posted its earnings results on Wednesday, October 29th. The shipping company reported $1.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.60 by $0.05. Kirby had a return on equity of 10.05% and a net margin of 9.22%.The firm had revenue of $871.16 million for the quarter, compared to the consensus estimate of $843.29 million. During the same quarter in the prior year, the business posted $1.55 earnings per share. The business’s quarterly revenue was up 4.8% on a year-over-year basis. Equities analysts forecast that Kirby Corporation will post 6.57 EPS for the current year.

Kirby Profile

Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America’s largest fleets of inland tank barges and towing vessels. Kirby’s fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.

In addition to its marine operations, Kirby’s Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.