Peregrine Capital Management LLC Sells 7,667 Shares of Kirby Corporation $KEX

Peregrine Capital Management LLC decreased its holdings in shares of Kirby Corporation (NYSE:KEX) by 5.9% in the 4th quarter, Holdings Channel.com reports. The firm owned 123,333 shares of the shipping company’s stock after selling 7,667 shares during the quarter. Peregrine Capital Management LLC’s holdings in Kirby were worth $13,589,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors also recently added to or reduced their stakes in the company. Goldman Sachs Group Inc. lifted its holdings in shares of Kirby by 30.4% during the first quarter. Goldman Sachs Group Inc. now owns 491,355 shares of the shipping company’s stock worth $49,632,000 after buying an additional 114,618 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its position in Kirby by 152.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,565 shares of the shipping company’s stock worth $18,441,000 after acquiring an additional 110,320 shares during the period. Cerity Partners LLC raised its stake in Kirby by 68.6% during the 2nd quarter. Cerity Partners LLC now owns 20,096 shares of the shipping company’s stock valued at $2,279,000 after purchasing an additional 8,174 shares during the last quarter. California Public Employees Retirement System boosted its holdings in Kirby by 3.5% in the 2nd quarter. California Public Employees Retirement System now owns 96,565 shares of the shipping company’s stock valued at $10,951,000 after purchasing an additional 3,292 shares during the period. Finally, NewEdge Advisors LLC boosted its holdings in Kirby by 52,000.0% in the 2nd quarter. NewEdge Advisors LLC now owns 2,084 shares of the shipping company’s stock valued at $236,000 after purchasing an additional 2,080 shares during the period. 96.15% of the stock is owned by institutional investors.

Kirby Price Performance

Shares of Kirby stock traded up $3.08 during midday trading on Thursday, hitting $151.36. 37,802 shares of the company were exchanged, compared to its average volume of 760,454. The firm has a 50 day simple moving average of $133.10 and a 200-day simple moving average of $117.67. The company has a debt-to-equity ratio of 0.27, a current ratio of 1.53 and a quick ratio of 0.96. The firm has a market cap of $8.12 billion, a P/E ratio of 23.83, a PEG ratio of 1.37 and a beta of 0.83. Kirby Corporation has a 52 week low of $79.51 and a 52 week high of $151.06.

Kirby (NYSE:KEX) last issued its earnings results on Thursday, January 29th. The shipping company reported $1.68 EPS for the quarter, beating the consensus estimate of $1.62 by $0.06. The company had revenue of $851.78 million for the quarter, compared to the consensus estimate of $857.82 million. Kirby had a net margin of 10.54% and a return on equity of 10.53%. The firm’s revenue for the quarter was up 6.2% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.29 EPS. Research analysts forecast that Kirby Corporation will post 6.81 earnings per share for the current year.

Analysts Set New Price Targets

Several research firms have recently issued reports on KEX. Wolfe Research restated an “outperform” rating and set a $136.00 price objective on shares of Kirby in a report on Friday, January 30th. Zacks Research raised Kirby from a “strong sell” rating to a “hold” rating in a research report on Friday, March 13th. Evercore restated an “outperform” rating and set a $138.00 price target on shares of Kirby in a research note on Monday, March 9th. BTIG Research upped their price target on Kirby from $135.00 to $160.00 and gave the company a “buy” rating in a report on Wednesday, April 15th. Finally, Weiss Ratings downgraded Kirby from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Thursday, April 16th. Five research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. Based on data from MarketBeat, Kirby presently has an average rating of “Moderate Buy” and a consensus target price of $140.20.

Insider Activity

In other news, COO Christian G. O’neil sold 11,287 shares of Kirby stock in a transaction that occurred on Monday, March 2nd. The shares were sold at an average price of $132.34, for a total value of $1,493,721.58. Following the completion of the transaction, the chief operating officer owned 11,287 shares in the company, valued at approximately $1,493,721.58. The trade was a 50.00% 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, VP Scott P. Miller sold 3,960 shares of the firm’s stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $120.68, for a total value of $477,892.80. Following the sale, the vice president directly owned 3,565 shares of the company’s stock, valued at $430,224.20. This represents a 52.62% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last three months, insiders sold 71,495 shares of company stock valued at $9,226,173. Corporate insiders own 0.80% of the company’s stock.

Kirby 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.