By otakuyassine3@gmail.com 
PNC Financial Services Group Inc. lifted its position in Kirby Co. (NYSE:KEX – Free Report) by 9.4% in the fourth quarter, Holdings Channel reports. The firm owned 4,402 shares of the shipping company’s stock after buying an additional 379 shares during the period. PNC Financial Services Group Inc.’s holdings in Kirby were worth $466,000 at the end of the most recent quarter.
A number of other large investors have also recently modified their holdings of the company. State Street Corp boosted its holdings in shares of Kirby by 0.7% in the third quarter. State Street Corp now owns 1,667,520 shares of the shipping company’s stock valued at $204,154,000 after purchasing an additional 12,337 shares during the period. Geode Capital Management LLC boosted its holdings in shares of Kirby by 0.3% in the third quarter. Geode Capital Management LLC now owns 961,303 shares of the shipping company’s stock valued at $117,724,000 after purchasing an additional 2,784 shares during the period. Charles Schwab Investment Management Inc. boosted its holdings in shares of Kirby by 27.8% in the third quarter. Charles Schwab Investment Management Inc. now owns 699,052 shares of the shipping company’s stock valued at $85,585,000 after purchasing an additional 152,146 shares during the period. Victory Capital Management Inc. boosted its holdings in shares of Kirby by 10.2% in the fourth quarter. Victory Capital Management Inc. now owns 525,708 shares of the shipping company’s stock valued at $55,620,000 after purchasing an additional 48,475 shares during the period. Finally, Bank of New York Mellon Corp boosted its holdings in shares of Kirby by 2.6% in the fourth quarter. Bank of New York Mellon Corp now owns 415,042 shares of the shipping company’s stock valued at $43,911,000 after purchasing an additional 10,486 shares during the period. Hedge funds and other institutional investors own 96.15% of the company’s stock.
Wall Street Analyst Weigh In
KEX has been the subject of a number of research reports. StockNews.com lowered Kirby from a “buy” rating to a “hold” rating in a report on Thursday, January 9th. Stifel Nicolaus reduced their price objective on shares of Kirby from $136.00 to $135.00 and set a “buy” rating for the company in a research note on Friday, January 31st. 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 has a consensus rating of “Moderate Buy” and an average target price of $129.25.
Check Out Our Latest Analysis on Kirby
Kirby Stock Performance
Shares of NYSE:KEX opened at $100.67 on Thursday. The company has a market capitalization of $5.73 billion, a price-to-earnings ratio of 20.50, a price-to-earnings-growth ratio of 0.88 and a beta of 1.18. Kirby Co. has a 52 week low of $89.28 and a 52 week high of $132.21. The company has a quick ratio of 1.05, a current ratio of 1.45 and a debt-to-equity ratio of 0.26. The firm has a 50 day moving average of $104.83 and a 200 day moving average of $114.28.
Kirby (NYSE:KEX – Get Free Report) last issued its quarterly earnings data on Thursday, January 30th. The shipping company reported $1.29 EPS for the quarter, missing analysts’ consensus estimates of $1.30 by ($0.01). Kirby had a return on equity of 9.71% and a net margin of 8.78%. On average, sell-side analysts predict that Kirby Co. will post 6.57 earnings per share for the current fiscal year.
Insider Transactions at Kirby
In other news, VP Scott P. Miller sold 1,244 shares of the company’s 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 transaction, the vice president now directly owns 5,545 shares of the company’s stock, 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 SEC, which is accessible through this hyperlink. Insiders own 1.50% of the company’s stock.
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.
See Also
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