Kirby Co. (NYSE:KEX) Shares Sold by California Public Employees Retirement System

California Public Employees Retirement System lowered its stake in shares of Kirby Co. (NYSE:KEX) by 5.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 106,222 shares of the shipping company’s stock after selling 6,039 shares during the quarter. California Public Employees Retirement System’s holdings in Kirby were worth $11,238,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Empowered Funds LLC acquired a new stake in Kirby during the 4th quarter worth $25,000. R Squared Ltd purchased a new position in shares of Kirby during the fourth quarter worth about $76,000. Signaturefd LLC increased its position in shares of Kirby by 13.1% during the fourth quarter. Signaturefd LLC now owns 1,746 shares of the shipping company’s stock worth $185,000 after purchasing an additional 202 shares in the last quarter. Hilltop Holdings Inc. purchased a new stake in shares of Kirby in the 3rd quarter valued at about $202,000. Finally, Ieq Capital LLC acquired a new stake in shares of Kirby in the 4th quarter valued at about $257,000. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Kirby Trading Down 4.0 %

Shares of KEX stock opened at $89.20 on Friday. The company has a market capitalization of $5.08 billion, a P/E ratio of 18.17, a price-to-earnings-growth ratio of 0.88 and a beta of 0.99. The company has a current ratio of 1.45, a quick ratio of 1.05 and a debt-to-equity ratio of 0.26. The business’s 50 day moving average is $102.83 and its two-hundred day moving average is $112.89. Kirby Co. has a twelve month low of $85.33 and a twelve month high of $132.21.

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

Wall Street Analyst Weigh In

KEX has been the topic of several research analyst reports. Stifel Nicolaus cut their price target on Kirby from $136.00 to $135.00 and set a “buy” rating on the stock in a research report on Friday, January 31st. Bank of America reduced their price target on shares of Kirby from $133.00 to $123.00 and set a “buy” rating for the company in a research report on Friday, March 28th. Finally, StockNews.com downgraded shares of Kirby from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th.

Insider Transactions at Kirby

In other Kirby news, VP Scott P. Miller sold 1,244 shares of Kirby stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $107.61, for a total value of $133,866.84. Following the sale, the vice president now owns 5,545 shares of the company’s stock, valued at approximately $596,697.45. The trade was a 18.32 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 0.90% of the company’s stock.

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.