VELA Investment Management LLC Sells 9,355 Shares of Kirby Corporation $KEX

VELA Investment Management LLC lessened its stake in shares of Kirby Corporation (NYSE:KEX) by 6.8% in the 2nd quarter, Holdings Channel.com reports. The firm owned 128,374 shares of the shipping company’s stock after selling 9,355 shares during the quarter. Kirby comprises about 3.8% of VELA Investment Management LLC’s portfolio, making the stock its largest holding. VELA Investment Management LLC’s holdings in Kirby were worth $17,455,000 at the end of the most recent reporting period.

Other hedge funds have also recently modified their holdings of the company. Rothschild Investment LLC grew its position in Kirby by 2,600.0% in the 4th quarter. Rothschild Investment LLC now owns 270 shares of the shipping company’s stock valued at $30,000 after buying an additional 260 shares during the last quarter. Smartleaf Asset Management LLC raised its position in Kirby by 537.5% during the 4th quarter. Smartleaf Asset Management LLC now owns 306 shares of the shipping company’s stock worth $34,000 after buying an additional 258 shares during the last quarter. Parallel Advisors LLC raised its position in Kirby by 50.0% during the 4th quarter. Parallel Advisors LLC now owns 402 shares of the shipping company’s stock worth $44,000 after buying an additional 134 shares during the last quarter. Root Financial Partners LLC raised its position in Kirby by 182.9% during the 1st quarter. Root Financial Partners LLC now owns 430 shares of the shipping company’s stock worth $57,000 after buying an additional 278 shares during the last quarter. Finally, Annis Gardner Whiting Capital Advisors LLC lifted its stake in shares of 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 acquiring an additional 80 shares during the period. 96.15% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on KEX shares. Weiss Ratings downgraded shares of Kirby from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday, August 31st. Bank of America increased their price target on shares of Kirby from $169.00 to $182.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Wall Street Zen downgraded shares of Kirby from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Citigroup lifted their price objective on Kirby from $165.00 to $170.00 and gave the company a “buy” rating in a report on Friday, July 31st. Finally, BTIG Research reiterated a “buy” rating and set a $170.00 target price on shares of Kirby in a research report on Wednesday, July 29th. Five investment analysts have rated the stock with a Buy rating and two have given a Hold rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $163.20.

Kirby Stock Performance

Shares of KEX opened at $140.51 on Monday. The company has a 50-day simple moving average of $138.73 and a 200-day simple moving average of $138.66. The company has a quick ratio of 1.12, a current ratio of 1.68 and a debt-to-equity ratio of 0.30. The company has a market capitalization of $7.42 billion, a PE ratio of 21.62, a P/E/G ratio of 1.26 and a beta of 0.86. Kirby Corporation has a 52-week low of $79.51 and a 52-week high of $157.69.

Kirby (NYSE:KEX) last issued its earnings results on Wednesday, July 29th. The shipping company reported $1.67 earnings per share for the quarter, topping the consensus estimate of $1.63 by $0.04. Kirby had a net margin of 10.18% and a return on equity of 10.44%. The company had revenue of $922.40 million for the quarter, compared to analyst estimates of $870.38 million. During the same period in the prior year, the business posted $1.67 earnings per share. The firm’s revenue for the quarter was up 7.8% compared to the same quarter last year. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. Equities research analysts predict that Kirby Corporation will post 7.11 earnings per share for the current fiscal year.

Kirby Company 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.