DAVENPORT & Co LLC Decreases Position in Kirby Corporation $KEX

DAVENPORT & Co LLC trimmed its holdings in shares of Kirby Corporation (NYSE:KEX) by 5.6% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 249,218 shares of the shipping company’s stock after selling 14,725 shares during the period. DAVENPORT & Co LLC’s holdings in Kirby were worth $27,657,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. First Horizon Corp purchased a new position in shares of Kirby in the third quarter worth about $30,000. Frazier Financial Advisors LLC lifted its stake in shares of Kirby by 559.3% in the 3rd quarter. Frazier Financial Advisors LLC now owns 567 shares of the shipping company’s stock valued at $47,000 after acquiring an additional 481 shares during the last quarter. Annis Gardner Whiting Capital Advisors LLC purchased a new stake in Kirby during the 3rd quarter valued at about $53,000. FNY Investment Advisers LLC bought a new position in Kirby during the 3rd quarter worth approximately $56,000. Finally, Huntington National Bank grew its position in Kirby by 21.0% during the 3rd quarter. Huntington National Bank now owns 932 shares of the shipping company’s stock worth $78,000 after acquiring an additional 162 shares during the last quarter. 96.15% of the stock is owned by institutional investors.

Insider Buying and Selling

In other Kirby news, CEO David W. Grzebinski sold 34,152 shares of the business’s stock in a transaction on Tuesday, February 24th. The shares were sold at an average price of $130.05, for a total transaction of $4,441,467.60. Following the transaction, the chief executive officer directly owned 98,241 shares of the company’s stock, valued at approximately $12,776,242.05. The trade was a 25.80% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, VP Scott P. Miller sold 3,960 shares of the company’s stock in a transaction on Tuesday, February 10th. The stock was sold at an average price of $120.68, for a total transaction of $477,892.80. Following the completion of the transaction, the vice president owned 3,565 shares of the company’s stock, valued at $430,224.20. This trade represents a 52.62% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 71,495 shares of company stock valued at $9,226,173 over the last three months. Insiders own 0.80% of the company’s stock.

Kirby Trading Down 0.4%

KEX opened at $135.83 on Thursday. The business has a 50 day simple moving average of $126.98 and a two-hundred day simple moving average of $110.03. The firm has a market capitalization of $7.28 billion, a price-to-earnings ratio of 21.46, a PEG ratio of 1.22 and a beta of 0.83. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.53 and a quick ratio of 0.96. Kirby Corporation has a one year low of $79.51 and a one year high of $137.96.

Kirby (NYSE:KEX) last issued its quarterly earnings data on Thursday, January 29th. The shipping company reported $1.68 earnings per share for the quarter, topping analysts’ consensus estimates of $1.62 by $0.06. Kirby had a return on equity of 10.53% and a net margin of 10.54%.The firm had revenue of $851.78 million for the quarter, compared to analyst estimates of $857.82 million. During the same period last year, the company earned $1.29 EPS. The business’s quarterly revenue was up 6.2% compared to the same quarter last year. Analysts predict that Kirby Corporation will post 6.57 EPS for the current year.

Wall Street Analysts Forecast Growth

KEX has been the subject of several recent research reports. Zacks Research upgraded Kirby from a “strong sell” rating to a “hold” rating in a research report on Friday, March 13th. Evercore restated an “outperform” rating and issued a $138.00 target price on shares of Kirby in a report on Monday, March 9th. Wolfe Research reaffirmed an “outperform” rating and issued a $136.00 target price on shares of Kirby in a research note on Friday, January 30th. Weiss Ratings lowered shares of Kirby from a “buy (b-)” rating to a “hold (c+)” rating in a report on Tuesday, March 10th. Finally, Citigroup increased their price target on shares of Kirby from $145.00 to $147.00 and gave the company a “buy” rating in a research 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 stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $132.60.

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.