Kirby Co. (NYSE:KEX) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lowered its stake in Kirby Co. (NYSE:KEX) by 1.2% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 24,270 shares of the shipping company’s stock after selling 288 shares during the period. Allspring Global Investments Holdings LLC’s holdings in Kirby were worth $2,313,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds also recently bought and sold shares of the company. Turtle Creek Wealth Advisors LLC acquired a new stake in Kirby in the 4th quarter valued at about $53,000. Quest Partners LLC acquired a new stake in shares of Kirby during the 4th quarter worth about $58,000. Kapitalo Investimentos Ltda acquired a new stake in shares of Kirby during the 4th quarter worth about $165,000. V Square Quantitative Management LLC acquired a new stake in shares of Kirby during the 4th quarter worth about $194,000. Finally, AXQ Capital LP acquired a new stake in shares of Kirby during the 3rd quarter worth about $224,000. Institutional investors and hedge funds own 96.15% of the company’s stock.

Kirby Trading Down 0.2 %

NYSE:KEX opened at $120.76 on Wednesday. The stock’s 50 day moving average price is $117.22 and its 200 day moving average price is $97.19. The company has a market capitalization of $7.07 billion, a PE ratio of 28.55, a P/E/G ratio of 0.73 and a beta of 1.18. The company has a quick ratio of 1.12, a current ratio of 1.81 and a debt-to-equity ratio of 0.33. Kirby Co. has a 52-week low of $72.11 and a 52-week high of $124.92.

Kirby (NYSE:KEX) last released its quarterly earnings results on Friday, April 26th. The shipping company reported $1.19 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.97 by $0.22. Kirby had a return on equity of 7.96% and a net margin of 8.01%. The firm had revenue of $808.00 million for the quarter, compared to the consensus estimate of $784.49 million. During the same quarter last year, the business posted $0.68 EPS. The firm’s quarterly revenue was up 7.7% compared to the same quarter last year. On average, research analysts anticipate that Kirby Co. will post 5.3 EPS for the current year.

Insider Buying and Selling at Kirby

In other Kirby news, VP Scott P. Miller sold 487 shares of Kirby stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $99.78, for a total value of $48,592.86. Following the transaction, the vice president now directly owns 1,000 shares in the company, valued at approximately $99,780. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other Kirby news, VP Scott P. Miller sold 487 shares of Kirby stock in a transaction that occurred on Thursday, April 11th. The stock was sold at an average price of $99.78, for a total value of $48,592.86. Following the transaction, the vice president now directly owns 1,000 shares in the company, valued at approximately $99,780. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, Director Richard Ross Stewart sold 676 shares of Kirby stock in a transaction that occurred on Tuesday, April 30th. The shares were sold at an average price of $109.60, for a total value of $74,089.60. Following the completion of the transaction, the director now owns 23,488 shares in the company, valued at $2,574,284.80. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 33,806 shares of company stock worth $3,945,225. 1.40% of the stock is currently owned by insiders.

Analyst Ratings Changes

Several equities research analysts have recently weighed in on the company. Wolfe Research assumed coverage on Kirby in a research report on Monday, April 22nd. They set an “outperform” rating and a $126.00 target price on the stock. Bank of America raised their target price on Kirby from $131.00 to $138.00 and gave the stock a “buy” rating in a research report on Monday, June 17th. StockNews.com raised Kirby from a “hold” rating to a “buy” rating in a research report on Tuesday, April 16th. Stifel Nicolaus raised their target price on Kirby from $131.00 to $132.00 and gave the stock a “buy” rating in a research report on Tuesday, May 21st. Finally, BTIG Research raised their target price on Kirby from $100.00 to $115.00 and gave the stock a “buy” rating in a research report on Wednesday, April 3rd. Six investment analysts have rated the stock with a buy rating, According to MarketBeat, Kirby presently has a consensus rating of “Buy” and an average price target of $123.20.

Kirby Company Profile

Kirby Corporation operates domestic tank barges in the United States. Its Marine Transportation segment provides marine transportation service and towing vessel transporting bulk liquid product, as well as operates tank barge throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along three United States coasts, and in Alaska and Hawaii.