Kirby Corporation $KEX Holdings Raised by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC raised its stake in shares of Kirby Corporation (NYSE:KEX) by 6.9% in the first quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 219,435 shares of the shipping company’s stock after buying an additional 14,120 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Kirby were worth $29,584,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of KEX. Bank of New York Mellon Corp raised its holdings in shares of Kirby by 1.5% during the first quarter. Bank of New York Mellon Corp now owns 337,835 shares of the shipping company’s stock worth $44,892,000 after acquiring an additional 5,020 shares in the last quarter. Sanctuary Advisors LLC grew its position in Kirby by 4.4% during the first quarter. Sanctuary Advisors LLC now owns 8,491 shares of the shipping company’s stock worth $1,128,000 after buying an additional 355 shares in the last quarter. State of Michigan Retirement System increased its stake in Kirby by 2.4% during the first quarter. State of Michigan Retirement System now owns 13,059 shares of the shipping company’s stock valued at $1,735,000 after acquiring an additional 300 shares during the period. Principal Financial Group Inc. increased its stake in Kirby by 42.9% during the first quarter. Principal Financial Group Inc. now owns 166,734 shares of the shipping company’s stock valued at $22,156,000 after acquiring an additional 50,092 shares during the period. Finally, Chicago Partners Investment Group LLC bought a new position in Kirby during the first quarter valued at about $242,000. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Kirby Stock Down 0.3%

Shares of NYSE KEX opened at $143.75 on Monday. The stock has a market cap of $7.69 billion, a PE ratio of 22.12, a PEG ratio of 1.27 and a beta of 0.83. The business has a fifty day moving average of $141.30 and a two-hundred day moving average of $134.60. Kirby Corporation has a 52-week low of $79.51 and a 52-week high of $157.69. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.01 and a current ratio of 1.59.

Kirby (NYSE:KEX) last posted its earnings results on Thursday, April 30th. The shipping company reported $1.50 earnings per share for the quarter, topping the consensus estimate of $1.41 by $0.09. The business had revenue of $844.10 million for the quarter, compared to analyst estimates of $832.57 million. Kirby had a net margin of 10.51% and a return on equity of 10.62%. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.33 EPS. Kirby has set its FY 2026 guidance at 6.650-7.280 EPS. As a group, equities research analysts expect that Kirby Corporation will post 7.06 earnings per share for the current fiscal year.

Insider Activity

In other news, VP Ronald A. Dragg sold 1,726 shares of Kirby stock in a transaction that occurred on Monday, May 4th. The shares were sold at an average price of $145.01, for a total value of $250,287.26. Following the completion of the transaction, the vice president owned 8,673 shares in the company, valued at approximately $1,257,671.73. The trade was a 16.60% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO Christian G. O’neil sold 11,287 shares of the business’s stock in a transaction that occurred on Friday, May 15th. The stock was sold at an average price of $145.93, for a total value of $1,647,111.91. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 17,691 shares of company stock valued at $2,579,036 over the last three months. 0.80% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts have commented on KEX shares. Weiss Ratings upgraded Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday. Wall Street Zen upgraded Kirby from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Evercore restated an “outperform” rating and issued a $158.00 target price on shares of Kirby in a research note on Friday, May 1st. BTIG Research reaffirmed a “buy” rating and issued a $170.00 target price on shares of Kirby in a research report on Tuesday, July 14th. Finally, Citigroup lifted their price target on shares of Kirby from $160.00 to $165.00 and gave the stock a “buy” rating in a research note on Monday, July 13th. Six investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company. According to MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $162.20.

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.