Kirby (NYSE:KEX) CEO David Grzebinski Sells 18,310 Shares of Stock

Kirby Corporation (NYSE:KEX) CEO David Grzebinski sold 18,310 shares of the company’s stock in a transaction that occurred on Monday, November 2nd. The shares were sold at an average price of $141.32, for a total value of $2,587,569.20. Following the completion of the transaction, the chief executive officer directly owned 79,931 shares of the company’s stock, valued at approximately $11,295,848.92. This trade represents a 18.64% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website.

Kirby Stock Performance

NYSE KEX opened at $127.84 on Thursday. The company has a 50 day moving average of $137.23 and a 200-day moving average of $136.78. The company has a current ratio of 1.68, a quick ratio of 1.12 and a debt-to-equity ratio of 0.30. Kirby Corporation has a 1-year low of $105.10 and a 1-year high of $157.69. The firm has a market cap of $6.75 billion, a price-to-earnings ratio of 18.42, a PEG ratio of 1.23 and a beta of 0.81.

Kirby (NYSE:KEX) last released its earnings results on Wednesday, October 28th. The shipping company reported $2.09 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.00 by $0.09. Kirby had a net margin of 10.39% and a return on equity of 10.94%. The company had revenue of $977.21 million for the quarter, compared to the consensus estimate of $938.84 million. During the same period in the prior year, the company posted $1.65 EPS. The company’s revenue was up 12.2% compared to the same quarter last year. On average, equities analysts forecast that Kirby Corporation will post 7.26 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

KEX has been the subject of several research reports. Wall Street Zen downgraded shares of Kirby from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Stephens boosted their price target on Kirby from $170.00 to $175.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. JPMorgan Chase & Co. lifted their price target on shares of Kirby from $200.00 to $210.00 and gave the stock an “overweight” rating in a report on Thursday, October 29th. Citigroup reduced their price target on Kirby from $170.00 to $169.00 and set a “buy” rating on the stock in a research report on Thursday, October 8th. Finally, Bank of America boosted their target price on shares of Kirby from $169.00 to $182.00 and gave the company a “buy” rating in a report on Wednesday, July 8th. Eight investment analysts have rated the stock with a Buy rating and one has issued a Hold rating to the stock. According to MarketBeat, Kirby currently has a consensus rating of “Moderate Buy” and an average price target of $171.43.

Institutional Trading of Kirby

A number of hedge funds have recently made changes to their positions in KEX. Procyon Advisors LLC grew its position in Kirby by 2.9% in the 1st quarter. Procyon Advisors LLC now owns 2,811 shares of the shipping company’s stock worth $374,000 after purchasing an additional 78 shares during the period. Annis Gardner Whiting Capital Advisors LLC boosted its holdings in Kirby by 18.2% in the 1st quarter. Annis Gardner Whiting Capital Advisors LLC now owns 520 shares of the shipping company’s stock worth $69,000 after buying an additional 80 shares during the period. Kestra Advisory Services LLC grew its position in shares of Kirby by 1.3% during the third quarter. Kestra Advisory Services LLC now owns 6,715 shares of the shipping company’s stock worth $881,000 after purchasing an additional 88 shares in the last quarter. Rockefeller Capital Management L.P. grew its holdings in Kirby by 18.4% during the 4th quarter. Rockefeller Capital Management L.P. now owns 1,079 shares of the shipping company’s stock valued at $119,000 after buying an additional 168 shares in the last quarter. Finally, Provenance Wealth Advisors LLC bought a new position in shares of Kirby during the 3rd quarter valued at about $27,000. 96.15% of the stock is owned by institutional investors.

About Kirby

Kirby Corporation is a Houston-based marine transportation and industrial services company. Through its marine transportation operations, the company is the largest tank barge operator in the United States, transporting bulk liquid products on the nation’s inland and coastal waterways.

Kirby’s marine transportation business carries petrochemicals, refined petroleum products, black oil, agricultural chemicals and other bulk liquids for industrial customers. Its operations primarily serve the U.S.