Louisiana State Employees Retirement System Buys Shares of 24,600 World Kinect Corporation $WKC

Louisiana State Employees Retirement System purchased a new position in shares of World Kinect Corporation (NYSE:WKC) during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 24,600 shares of the company’s stock, valued at approximately $568,000.

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in WKC. Royal Bank of Canada increased its position in World Kinect by 2.2% in the first quarter. Royal Bank of Canada now owns 68,228 shares of the company’s stock worth $1,934,000 after buying an additional 1,481 shares during the period. AQR Capital Management LLC lifted its position in World Kinect by 16.5% in the 1st quarter. AQR Capital Management LLC now owns 119,198 shares of the company’s stock valued at $3,380,000 after purchasing an additional 16,874 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in World Kinect by 4.6% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,972 shares of the company’s stock valued at $963,000 after purchasing an additional 1,497 shares during the last quarter. Millennium Management LLC boosted its stake in World Kinect by 3.3% during the 1st quarter. Millennium Management LLC now owns 525,697 shares of the company’s stock valued at $14,909,000 after purchasing an additional 16,738 shares during the period. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in World Kinect by 18.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 220,791 shares of the company’s stock worth $6,262,000 after purchasing an additional 34,807 shares during the last quarter. Institutional investors and hedge funds own 97.06% of the company’s stock.

Analyst Ratings Changes

WKC has been the subject of several analyst reports. Wall Street Zen upgraded World Kinect from a “hold” rating to a “buy” rating in a research report on Saturday, May 2nd. Morgan Stanley increased their price target on World Kinect from $25.00 to $26.00 and gave the stock an “underweight” rating in a research note on Tuesday, May 5th. Zacks Research lowered World Kinect from a “strong-buy” rating to a “hold” rating in a report on Tuesday, June 2nd. Finally, Weiss Ratings upgraded shares of World Kinect from a “sell (d+)” rating to a “hold (c-)” rating in a research note on Monday, June 29th. One investment analyst has rated the stock with a Buy rating, two have assigned a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $29.50.

World Kinect Price Performance

Shares of NYSE:WKC opened at $33.18 on Wednesday. World Kinect Corporation has a 12 month low of $22.21 and a 12 month high of $33.95. The stock has a market cap of $1.70 billion, a price-to-earnings ratio of -3.25, a PEG ratio of 0.68 and a beta of 1.19. The stock’s 50 day moving average price is $29.93 and its 200 day moving average price is $26.64. The company has a debt-to-equity ratio of 0.65, a current ratio of 1.05 and a quick ratio of 0.87.

World Kinect (NYSE:WKC) last issued its quarterly earnings results on Thursday, April 23rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.44. World Kinect had a positive return on equity of 8.27% and a negative net margin of 1.53%.The firm had revenue of $9.69 billion during the quarter, compared to analyst estimates of $9.29 billion. During the same period last year, the company posted $0.48 EPS. The firm’s quarterly revenue was up 2.5% on a year-over-year basis. World Kinect has set its FY 2026 guidance at 2.650-2.850 EPS. Equities research analysts anticipate that World Kinect Corporation will post 2.79 earnings per share for the current fiscal year.

World Kinect Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, July 16th. Shareholders of record on Tuesday, June 30th will be issued a $0.23 dividend. This represents a $0.92 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date of this dividend is Tuesday, June 30th. This is a positive change from World Kinect’s previous quarterly dividend of $0.20. World Kinect’s dividend payout ratio is currently -9.01%.

Insider Buying and Selling at World Kinect

In related news, Director Richard A. Kassar sold 10,000 shares of the firm’s stock in a transaction that occurred on Monday, May 11th. The shares were sold at an average price of $26.97, for a total transaction of $269,700.00. Following the completion of the sale, the director directly owned 53,812 shares in the company, valued at approximately $1,451,309.64. This trade represents a 15.67% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Michael J. Kasbar sold 10,000 shares of World Kinect stock in a transaction that occurred on Thursday, July 2nd. The stock was sold at an average price of $33.38, for a total transaction of $333,800.00. Following the completion of the transaction, the chairman owned 1,011,450 shares in the company, valued at approximately $33,762,201. This trade represents a 0.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold a total of 107,928 shares of company stock valued at $3,107,065 over the last 90 days. Insiders own 3.80% of the company’s stock.

About World Kinect

World Kinect Energy Services, Inc (NYSE: WKC) is a global energy services company specializing in fuel procurement, supply chain management and risk mitigation solutions. The company offers an integrated platform that facilitates the sourcing, trading and logistics of refined fuels, natural gas, liquefied natural gas (LNG) and renewable energy products. Its services are designed to help industrial, commercial and institutional clients optimize energy costs, comply with environmental regulations and manage price volatility.

In addition to traditional commodity trading and delivery, World Kinect provides a suite of value-added services that include carbon offset and decarbonization strategies, energy efficiency consulting and emissions reporting.