Linscomb Wealth Inc. Sells 6,172 Shares of Kirby Co. (NYSE:KEX)

Linscomb Wealth Inc. trimmed its position in shares of Kirby Co. (NYSE:KEX) by 28.5% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 15,488 shares of the shipping company’s stock after selling 6,172 shares during the period. Linscomb Wealth Inc.’s holdings in Kirby were worth $1,639,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently made changes to their positions in KEX. Quest Partners LLC grew its holdings in shares of Kirby by 0.7% during the 3rd quarter. Quest Partners LLC now owns 12,462 shares of the shipping company’s stock worth $1,526,000 after purchasing an additional 89 shares in the last quarter. Americana Partners LLC lifted its position in Kirby by 2.1% in the third quarter. Americana Partners LLC now owns 4,900 shares of the shipping company’s stock worth $600,000 after purchasing an additional 100 shares during the period. Janney Montgomery Scott LLC boosted its stake in Kirby by 1.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 8,459 shares of the shipping company’s stock worth $895,000 after buying an additional 108 shares in the last quarter. Huntington National Bank increased its holdings in Kirby by 8.5% in the 3rd quarter. Huntington National Bank now owns 1,668 shares of the shipping company’s stock valued at $204,000 after buying an additional 130 shares during the period. Finally, Creative Planning raised its stake in shares of Kirby by 2.2% in the 3rd quarter. Creative Planning now owns 6,683 shares of the shipping company’s stock valued at $818,000 after buying an additional 147 shares in the last quarter. 96.15% of the stock is owned by institutional investors and hedge funds.

Insider Activity at Kirby

In other news, VP Scott P. Miller sold 1,244 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $107.61, for a total transaction of $133,866.84. Following the sale, the vice president now owns 5,545 shares in the company, valued at approximately $596,697.45. This represents a 18.32 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Insiders own 1.50% of the company’s stock.

Kirby Stock Up 1.8 %

KEX opened at $104.19 on Friday. Kirby Co. has a twelve month low of $86.02 and a twelve month high of $132.21. The firm has a market cap of $5.95 billion, a price-to-earnings ratio of 21.22, a PEG ratio of 0.88 and a beta of 1.19. The firm’s 50-day simple moving average is $106.80 and its 200-day simple moving average is $116.16. The company has a debt-to-equity ratio of 0.26, a quick ratio of 1.05 and a current ratio of 1.45.

Kirby (NYSE:KEX) last issued its quarterly earnings data on Thursday, January 30th. The shipping company reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.01). Kirby had a return on equity of 9.71% and a net margin of 8.78%. Equities research analysts anticipate that Kirby Co. will post 6.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

KEX has been the topic of several recent research reports. Stifel Nicolaus decreased their target price on shares of Kirby from $136.00 to $135.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. StockNews.com downgraded Kirby from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. One research analyst has rated the stock with a hold rating and four have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $129.25.

About Kirby

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.