Quest Partners LLC Has $1.53 Million Stock Position in Kirby Co. (NYSE:KEX)

Quest Partners LLC raised its position in Kirby Co. (NYSE:KEX) by 0.7% in the third quarter, according to its most recent disclosure with the SEC. The firm owned 12,462 shares of the shipping company’s stock after acquiring an additional 89 shares during the period. Quest Partners LLC’s holdings in Kirby were worth $1,526,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently added to or reduced their stakes in KEX. Farther Finance Advisors LLC grew its position in Kirby by 420.0% in the 3rd quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock valued at $25,000 after purchasing an additional 168 shares during the period. International Assets Investment Management LLC bought a new position in shares of Kirby in the second quarter valued at $26,000. ORG Wealth Partners LLC acquired a new position in shares of Kirby during the third quarter valued at about $30,000. ORG Partners LLC bought a new stake in shares of Kirby during the second quarter worth about $32,000. Finally, Opal Wealth Advisors LLC acquired a new stake in shares of Kirby in the 2nd quarter worth about $33,000. Institutional investors and hedge funds own 96.15% of the company’s stock.

Kirby Trading Up 0.5 %

NYSE KEX opened at $128.30 on Wednesday. The business’s fifty day moving average is $122.71 and its 200-day moving average is $120.01. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.67 and a quick ratio of 1.05. The stock has a market capitalization of $7.36 billion, a price-to-earnings ratio of 24.63, a PEG ratio of 0.76 and a beta of 1.17. Kirby Co. has a one year low of $72.11 and a one year high of $132.04.

Kirby (NYSE:KEX) last released its earnings results on Wednesday, October 30th. The shipping company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.08. The firm had revenue of $831.10 million during the quarter, compared to the consensus estimate of $824.42 million. Kirby had a net margin of 9.37% and a return on equity of 9.43%. The company’s revenue was up 8.7% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.05 EPS. Equities research analysts predict that Kirby Co. will post 5.45 EPS for the current year.

Analysts Set New Price Targets

A number of analysts have commented on the company. StockNews.com lowered Kirby from a “buy” rating to a “hold” rating in a report on Sunday, September 22nd. Bank of America upped their price target on Kirby from $138.00 to $141.00 and gave the stock a “buy” rating in a report on Tuesday, July 23rd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, Kirby has an average rating of “Moderate Buy” and a consensus target price of $123.80.

Insider Buying and Selling at Kirby

In other Kirby news, VP Amy D. Husted sold 2,853 shares of the stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $126.54, for a total transaction of $361,018.62. Following the sale, the vice president now owns 5,280 shares in the company, valued at $668,131.20. This represents a 35.08 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO David W. Grzebinski sold 26,358 shares of Kirby stock in a transaction on Monday, September 16th. The shares were sold at an average price of $120.46, for a total value of $3,175,084.68. Following the completion of the transaction, the chief executive officer now owns 63,399 shares of the company’s stock, valued at approximately $7,637,043.54. This trade represents a 29.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold a total of 60,596 shares of company stock worth $7,515,760 over the last ninety days. 1.40% of the stock is currently owned by company insiders.

Kirby 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.