Kirby Corporation $KEX Stock Holdings Increased by JPMorgan Chase & Co.

JPMorgan Chase & Co. boosted its holdings in shares of Kirby Corporation (NYSE:KEX) by 31.8% in the 3rd quarter, Holdings Channel reports. The firm owned 262,044 shares of the shipping company’s stock after buying an additional 63,185 shares during the period. JPMorgan Chase & Co.’s holdings in Kirby were worth $21,868,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in KEX. Tudor Investment Corp ET AL bought a new position in shares of Kirby in the third quarter valued at $8,772,000. FNY Investment Advisers LLC bought a new stake in shares of Kirby during the 3rd quarter worth $56,000. Armistice Capital LLC acquired a new position in shares of Kirby in the 3rd quarter worth $208,000. Caxton Associates LLP acquired a new position in shares of Kirby in the 3rd quarter worth $205,000. Finally, Sender Co & Partners Inc. acquired a new stake in shares of Kirby during the third quarter worth $360,000. 96.15% of the stock is currently owned by institutional investors.

Insider Transactions at Kirby

In other news, VP Scott P. Miller sold 3,960 shares of the stock in a transaction on Tuesday, February 10th. The shares were sold at an average price of $120.68, for a total transaction of $477,892.80. Following the transaction, the vice president owned 3,565 shares in the company, valued at $430,224.20. This represents a 52.62% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, COO Christian G. O’neil sold 11,287 shares of the stock in a transaction on Monday, March 2nd. The stock was sold at an average price of $132.34, for a total transaction of $1,493,721.58. Following the transaction, the chief operating officer directly owned 11,287 shares in the company, valued at $1,493,721.58. The trade was a 50.00% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold a total of 71,495 shares of company stock valued at $9,226,173 in the last ninety days. 0.80% of the stock is currently owned by insiders.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on KEX shares. Citigroup upped their target price on Kirby from $145.00 to $147.00 and gave the company a “buy” rating in a report on Friday, January 30th. Evercore reissued an “outperform” rating and issued a $138.00 price target on shares of Kirby in a research note on Monday, March 9th. Wolfe Research restated an “outperform” rating and set a $136.00 price objective on shares of Kirby in a report on Friday, January 30th. Weiss Ratings lowered shares of Kirby from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Tuesday, March 10th. Finally, BTIG Research decreased their target price on shares of Kirby from $140.00 to $135.00 and set a “buy” rating for the company in a report on Thursday, January 29th. Five investment analysts have rated the stock with a Buy rating and two have issued a Hold rating to the company’s stock. Based on data from MarketBeat, Kirby has a consensus rating of “Moderate Buy” and a consensus price target of $132.60.

Kirby Price Performance

KEX opened at $136.53 on Wednesday. The firm has a market capitalization of $7.32 billion, a P/E ratio of 21.57, a PEG ratio of 1.17 and a beta of 0.83. The stock has a fifty day moving average of $126.75 and a 200-day moving average of $109.85. The company has a quick ratio of 0.96, a current ratio of 1.53 and a debt-to-equity ratio of 0.27. Kirby Corporation has a 12-month low of $79.51 and a 12-month high of $137.96.

Kirby (NYSE:KEX) last released its earnings results on Thursday, January 29th. The shipping company reported $1.68 earnings per share for the quarter, beating the consensus estimate of $1.62 by $0.06. Kirby had a return on equity of 10.53% and a net margin of 10.54%.The company had revenue of $851.78 million for the quarter, compared to analysts’ expectations of $857.82 million. During the same quarter in the previous year, the business posted $1.29 EPS. The business’s revenue for the quarter was up 6.2% on a year-over-year basis. Equities analysts forecast that Kirby Corporation will post 6.57 EPS for the current fiscal year.

About Kirby

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.