Janus Henderson Group PLC lifted its stake in shares of Kirby Co. (NYSE:KEX) by 71.3% in the third quarter, Holdings Channel reports. The fund owned 13,700 shares of the shipping company’s stock after acquiring an additional 5,700 shares during the quarter. Janus Henderson Group PLC’s holdings in Kirby were worth $1,127,000 at the end of the most recent quarter.
Several other institutional investors and hedge funds also recently modified their holdings of KEX. Van ECK Associates Corp increased its holdings in Kirby by 90.8% in the second quarter. Van ECK Associates Corp now owns 797,270 shares of the shipping company’s stock worth $66,652,000 after purchasing an additional 379,470 shares in the last quarter. Wells Fargo & Company MN increased its holdings in Kirby by 124.6% in the second quarter. Wells Fargo & Company MN now owns 528,341 shares of the shipping company’s stock worth $44,169,000 after purchasing an additional 293,152 shares in the last quarter. Victory Capital Management Inc. increased its holdings in Kirby by 394.9% in the second quarter. Victory Capital Management Inc. now owns 173,981 shares of the shipping company’s stock worth $14,545,000 after purchasing an additional 138,823 shares in the last quarter. BlackRock Inc. increased its holdings in Kirby by 2.7% in the second quarter. BlackRock Inc. now owns 4,962,214 shares of the shipping company’s stock worth $414,843,000 after purchasing an additional 128,826 shares in the last quarter. Finally, Castleark Management LLC bought a new stake in Kirby in the second quarter worth approximately $10,668,000. Institutional investors own 94.14% of the company’s stock.
A number of brokerages have weighed in on KEX. ValuEngine upgraded Kirby from a “hold” rating to a “buy” rating in a report on Tuesday, November 6th. Zacks Investment Research upgraded Kirby from a “sell” rating to a “hold” rating in a report on Friday, September 21st. Finally, Wells Fargo & Co lowered their target price on Kirby from $91.00 to $90.00 and set a “buy” rating for the company in a report on Monday, October 29th. One research analyst has rated the stock with a sell rating, two have given a hold rating and seven have assigned a buy rating to the company. The company presently has a consensus rating of “Buy” and a consensus target price of $89.25.
In other news, VP Amy D. Husted sold 1,200 shares of the business’s stock in a transaction that occurred on Tuesday, November 13th. The stock was sold at an average price of $74.79, for a total transaction of $89,748.00. Following the completion of the sale, the vice president now owns 15,246 shares in the company, valued at $1,140,248.34. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Insiders own 2.40% of the company’s stock.
NYSE KEX opened at $69.05 on Friday. The company has a market cap of $4.26 billion, a PE ratio of 33.68, a PEG ratio of 1.89 and a beta of 0.99. Kirby Co. has a 52 week low of $63.50 and a 52 week high of $94.05. The company has a quick ratio of 1.06, a current ratio of 1.86 and a debt-to-equity ratio of 0.43.
Kirby (NYSE:KEX) last released its quarterly earnings data on Thursday, October 25th. The shipping company reported $0.70 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.64 by $0.06. The firm had revenue of $704.85 million during the quarter, compared to the consensus estimate of $780.20 million. Kirby had a return on equity of 5.05% and a net margin of 11.30%. On average, equities analysts anticipate that Kirby Co. will post 2.82 earnings per share for the current fiscal year.
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Kirby Corporation operates domestic tank barges in the United States. It operates in two segments, Marine Transportation and Distribution and Services. The Marine Transportation segment provides marine transportation services and towing vessels transporting bulk liquid products, as well as operates tank barges throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.
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