JPMorgan Chase & Co. lowered its position in shares of Kirby Corp. (NYSE:KEX) by 16.5% during the second quarter, Holdings Channel reports. The institutional investor owned 91,879 shares of the company’s stock after selling 18,157 shares during the period. JPMorgan Chase & Co. owned 0.17% of Kirby Corp. worth $5,732,000 at the end of the most recent quarter.
Several other large investors also recently modified their holdings of KEX. Kempen Capital Management N.V. bought a new stake in shares of Kirby Corp. during the first quarter worth $145,000. Independent Portfolio Consultants Inc. boosted its stake in shares of Kirby Corp. by 8.9% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,500 shares of the company’s stock worth $156,000 after buying an additional 205 shares in the last quarter. Advisors Asset Management Inc. boosted its stake in shares of Kirby Corp. by 9.7% in the second quarter. Advisors Asset Management Inc. now owns 2,704 shares of the company’s stock worth $169,000 after buying an additional 238 shares in the last quarter. Huntington National Bank boosted its stake in shares of Kirby Corp. by 66.4% in the second quarter. Huntington National Bank now owns 3,317 shares of the company’s stock worth $207,000 after buying an additional 1,324 shares in the last quarter. Finally, LS Investment Advisors LLC boosted its stake in shares of Kirby Corp. by 71.7% in the second quarter. LS Investment Advisors LLC now owns 3,322 shares of the company’s stock worth $207,000 after buying an additional 1,387 shares in the last quarter. Institutional investors and hedge funds own 99.44% of the company’s stock.
Kirby Corp. (NYSE:KEX) traded up 0.33% during trading on Wednesday, reaching $60.20. The company’s stock had a trading volume of 154,049 shares. The firm has a market cap of $3.24 billion, a P/E ratio of 17.66 and a beta of 1.12. Kirby Corp. has a 52 week low of $44.63 and a 52 week high of $73.25. The stock’s 50 day moving average is $57.25 and its 200-day moving average is $61.39.
Kirby Corp. (NYSE:KEX) last posted its quarterly earnings data on Wednesday, July 27th. The company reported $0.72 earnings per share (EPS) for the quarter, topping the Zacks’ consensus estimate of $0.70 by $0.02. The business earned $441.60 million during the quarter, compared to the consensus estimate of $454.12 million. Kirby Corp. had a return on equity of 8.02% and a net margin of 9.63%. Kirby Corp.’s quarterly revenue was down 18.7% on a year-over-year basis. During the same period last year, the company earned $1.04 earnings per share. On average, equities research analysts forecast that Kirby Corp. will post $2.61 earnings per share for the current fiscal year.
Several equities research analysts have commented on the stock. Vetr upgraded shares of Kirby Corp. from a “sell” rating to a “hold” rating and set a $64.75 price target on the stock in a research report on Monday, June 27th. Zacks Investment Research upgraded shares of Kirby Corp. from a “sell” rating to a “hold” rating in a research report on Wednesday, June 29th. Jefferies Group reiterated a “buy” rating on shares of Kirby Corp. in a research report on Monday, August 1st. Stifel Nicolaus boosted their price target on shares of Kirby Corp. from $50.00 to $54.00 and gave the stock a “hold” rating in a research report on Wednesday, September 28th. Finally, RBC Capital Markets upgraded shares of Kirby Corp. from a “sector perform” rating to an “outperform” rating and boosted their price target for the stock from $55.00 to $68.00 in a research report on Tuesday, September 20th. Two investment analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. Kirby Corp. currently has an average rating of “Hold” and an average target price of $62.85.
Kirby Corp. Company Profile
Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services. The Company, through its Marine Transportation segment, is a provider of marine transportation services, operating tank barges and towing vessels transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all the three United States coasts and in Alaska and Hawaii.
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