Quantbot Technologies LP Makes New Investment in Kirby Co. (NYSE:KEX)

Quantbot Technologies LP acquired a new stake in shares of Kirby Co. (NYSE:KEX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm acquired 16,554 shares of the shipping company’s stock, valued at approximately $1,751,000.

Several other hedge funds have also recently modified their holdings of KEX. Artemis Investment Management LLP grew its holdings in Kirby by 112.0% during the 4th quarter. Artemis Investment Management LLP now owns 382,835 shares of the shipping company’s stock valued at $40,504,000 after buying an additional 202,272 shares in the last quarter. Raymond James Financial Inc. purchased a new position in shares of Kirby in the fourth quarter valued at $18,749,000. DAVENPORT & Co LLC bought a new stake in Kirby in the fourth quarter worth $16,390,000. Charles Schwab Investment Management Inc. raised its stake in Kirby by 27.8% during the third quarter. Charles Schwab Investment Management Inc. now owns 699,052 shares of the shipping company’s stock valued at $85,585,000 after purchasing an additional 152,146 shares in the last quarter. Finally, Allspring Global Investments Holdings LLC lifted its position in Kirby by 92.5% during the fourth quarter. Allspring Global Investments Holdings LLC now owns 221,460 shares of the shipping company’s stock valued at $23,247,000 after purchasing an additional 106,411 shares during the last quarter. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Insider Transactions at Kirby

In other Kirby news, VP Scott P. Miller sold 1,244 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $107.61, for a total value of $133,866.84. Following the completion of the sale, the vice president now directly owns 5,545 shares in the company, valued at $596,697.45. This trade represents a 18.32 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 0.90% of the company’s stock.

Kirby Trading Up 3.1 %

Shares of NYSE:KEX opened at $104.47 on Tuesday. The company has a current ratio of 1.45, a quick ratio of 1.05 and a debt-to-equity ratio of 0.26. The company has a market capitalization of $5.94 billion, a PE ratio of 21.28, a P/E/G ratio of 0.88 and a beta of 1.18. Kirby Co. has a 12-month low of $92.13 and a 12-month high of $132.21. The business’s fifty day simple moving average is $104.67 and its 200-day simple moving average is $113.94.

Kirby (NYSE:KEX) last posted its earnings results on Thursday, January 30th. The shipping company reported $1.29 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.30 by ($0.01). Kirby had a net margin of 8.78% and a return on equity of 9.71%. As a group, equities research analysts predict that Kirby Co. will post 6.57 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of analysts have recently weighed in on KEX shares. StockNews.com downgraded shares of Kirby from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Stifel Nicolaus reduced their price objective on Kirby from $136.00 to $135.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. One investment analyst has rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. According to data from MarketBeat, the company currently has a consensus rating of “Moderate Buy” and a consensus target price of $129.25.

About Kirby

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.