RS Investment Management Co. LLC acquired a new stake in Kirby Corp. (NYSE:KEX) during the second quarter, Holdings Channel reports. The firm acquired 839,753 shares of the company’s stock, valued at approximately $52,392,000.
Other hedge funds and other institutional investors also recently modified their holdings of the company. Kempen Capital Management N.V. bought a new position in shares of Kirby Corp. during the first quarter valued at approximately $145,000. Independent Portfolio Consultants Inc. raised its position in shares of Kirby Corp. by 8.9% in the second quarter. Independent Portfolio Consultants Inc. now owns 2,500 shares of the company’s stock valued at $156,000 after buying an additional 205 shares during the period. LS Investment Advisors LLC raised its position in shares of Kirby Corp. by 71.7% in the second quarter. LS Investment Advisors LLC now owns 3,322 shares of the company’s stock valued at $207,000 after buying an additional 1,387 shares during the period. Schonfeld Strategic Advisors LLC bought a new position in shares of Kirby Corp. during the first quarter valued at approximately $401,000. Finally, LPL Financial LLC raised its position in shares of Kirby Corp. by 0.4% in the first quarter. LPL Financial LLC now owns 6,948 shares of the company’s stock valued at $418,000 after buying an additional 28 shares during the period. Institutional investors and hedge funds own 99.43% of the company’s stock.
Shares of Kirby Corp. (NYSE:KEX) traded up 2.61% during mid-day trading on Tuesday, hitting $58.49. 1,002,047 shares of the stock were exchanged. The stock has a market cap of $3.15 billion, a PE ratio of 17.16 and a beta of 1.11. Kirby Corp. has a 12 month low of $44.63 and a 12 month high of $73.25. The stock’s 50 day moving average is $54.59 and its 200-day moving average is $61.37.
Kirby Corp. (NYSE:KEX) last issued its quarterly earnings data on Wednesday, July 27th. The company reported $0.72 EPS for the quarter, topping analysts’ consensus estimates of $0.70 by $0.02. The business had revenue of $441.60 million for the quarter, compared to analysts’ expectations of $454.12 million. Kirby Corp. had a net margin of 9.63% and a return on equity of 8.02%. The business’s revenue was down 18.7% on a year-over-year basis. During the same quarter last year, the company earned $1.04 EPS. On average, analysts anticipate that Kirby Corp. will post $2.61 EPS for the current year.
KEX has been the subject of several research reports. Jefferies Group restated a “buy” rating on shares of Kirby Corp. in a report on Monday, August 1st. Vetr upgraded shares of Kirby Corp. from a “sell” rating to a “hold” rating and set a $67.34 price objective for the company in a report on Tuesday, June 14th. Zacks Investment Research upgraded shares of Kirby Corp. from a “sell” rating to a “hold” rating in a report on Wednesday, June 29th. Finally, Credit Suisse Group AG lowered shares of Kirby Corp. from an “outperform” rating to a “neutral” rating and set a $60.00 price target for the company. in a research note on Tuesday, June 21st. Three research analysts have rated the stock with a sell rating, six have assigned a hold rating and five have given a buy rating to the company. The company presently has an average rating of “Hold” and an average target price of $63.69.
About Kirby Corp.
Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services. The Company, through its Marine Transportation segment, is a provider of marine transportation services, operating tank barges and towing vessels transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all the three United States coasts and in Alaska and Hawaii.
Want to see what other hedge funds are holding KEX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Kirby Corp. (NYSE:KEX).
Receive News & Ratings for Kirby Corp. Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for Kirby Corp. and related companies with MarketBeat.com's FREE daily email newsletter.