Ronald Dragg Sells 5,429 Shares of Kirby (NYSE:KEX) Stock

Kirby Corporation (NYSE:KEX) VP Ronald Dragg sold 5,429 shares of the stock in a transaction dated Wednesday, February 4th. The shares were sold at an average price of $122.00, for a total value of $662,338.00. Following the transaction, the vice president owned 10,399 shares in the company, valued at $1,268,678. This trade represents a 34.30% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink.

Kirby Stock Performance

NYSE:KEX opened at $122.61 on Friday. The company has a market capitalization of $6.65 billion, a price-to-earnings ratio of 19.37, a PEG ratio of 1.08 and a beta of 0.88. The business has a 50 day moving average of $117.87 and a 200 day moving average of $103.80. The company has a debt-to-equity ratio of 0.31, a current ratio of 1.70 and a quick ratio of 1.08. Kirby Corporation has a 1-year low of $79.51 and a 1-year high of $132.18.

Kirby (NYSE:KEX) last posted its quarterly earnings results on Thursday, January 29th. The shipping company reported $1.68 EPS for the quarter, topping the consensus estimate of $1.62 by $0.06. Kirby had a net margin of 10.54% and a return on equity of 10.55%. The firm had revenue of $851.78 million for the quarter, compared to the consensus estimate of $857.82 million. During the same period last year, the firm posted $1.29 earnings per share. The business’s revenue was up 6.2% compared to the same quarter last year. On average, sell-side analysts predict that Kirby Corporation will post 6.57 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

A number of research analysts have recently issued reports on KEX shares. Evercore raised their price objective on Kirby from $109.00 to $122.00 and gave the company an “outperform” rating in a research note on Thursday, October 30th. Wall Street Zen upgraded Kirby from a “hold” rating to a “buy” rating in a research report on Saturday, November 1st. Citigroup lifted their price target on Kirby from $145.00 to $147.00 and gave the stock a “buy” rating in a research note on Friday, January 30th. BTIG Research dropped their price objective on Kirby from $140.00 to $135.00 and set a “buy” rating for the company in a research note on Thursday, January 29th. Finally, Wolfe Research restated an “outperform” rating and issued a $136.00 target price on shares of Kirby in a report on Friday, January 30th. Five research analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat, Kirby currently has an average rating of “Moderate Buy” and a consensus price target of $129.40.

Institutional Trading of Kirby

Several large investors have recently added to or reduced their stakes in KEX. Vanguard Group Inc. raised its holdings in Kirby by 2.4% in the 3rd quarter. Vanguard Group Inc. now owns 5,667,853 shares of the shipping company’s stock worth $472,982,000 after purchasing an additional 134,261 shares in the last quarter. Alliancebernstein L.P. increased its position in shares of Kirby by 72.5% during the second quarter. Alliancebernstein L.P. now owns 2,282,865 shares of the shipping company’s stock valued at $258,900,000 after buying an additional 959,209 shares during the period. Select Equity Group L.P. raised its stake in Kirby by 10.8% in the second quarter. Select Equity Group L.P. now owns 2,165,929 shares of the shipping company’s stock worth $245,638,000 after buying an additional 211,231 shares in the last quarter. King Luther Capital Management Corp raised its stake in Kirby by 8.5% in the third quarter. King Luther Capital Management Corp now owns 1,570,001 shares of the shipping company’s stock worth $131,017,000 after buying an additional 122,733 shares in the last quarter. Finally, Encompass Capital Advisors LLC lifted its holdings in Kirby by 32.4% in the second quarter. Encompass Capital Advisors LLC now owns 1,225,338 shares of the shipping company’s stock worth $138,966,000 after buying an additional 299,981 shares during the period. Institutional investors own 96.15% of the company’s stock.

Kirby Company 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.