Kirby Corporation $KEX Shares Purchased by DAVENPORT & Co LLC

DAVENPORT & Co LLC lifted its holdings in shares of Kirby Corporation (NYSE:KEX) by 7.8% during the second quarter, HoldingsChannel.com reports. The fund owned 203,308 shares of the shipping company’s stock after purchasing an additional 14,695 shares during the quarter. DAVENPORT & Co LLC’s holdings in Kirby were worth $23,057,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also modified their holdings of the company. Brooklyn Investment Group raised its stake in Kirby by 40.7% during the 1st quarter. Brooklyn Investment Group now owns 394 shares of the shipping company’s stock valued at $40,000 after acquiring an additional 114 shares during the last quarter. Brown Advisory Inc. increased its holdings in shares of Kirby by 0.3% in the first quarter. Brown Advisory Inc. now owns 36,597 shares of the shipping company’s stock valued at $3,697,000 after purchasing an additional 117 shares during the period. Parallel Advisors LLC raised its stake in shares of Kirby by 49.4% during the second quarter. Parallel Advisors LLC now owns 366 shares of the shipping company’s stock worth $42,000 after purchasing an additional 121 shares during the last quarter. GAMMA Investing LLC lifted its holdings in shares of Kirby by 21.9% during the second quarter. GAMMA Investing LLC now owns 819 shares of the shipping company’s stock worth $93,000 after purchasing an additional 147 shares during the period. Finally, Blue Trust Inc. lifted its holdings in shares of Kirby by 28.7% during the first quarter. Blue Trust Inc. now owns 668 shares of the shipping company’s stock worth $67,000 after purchasing an additional 149 shares during the period. 96.15% of the stock is owned by institutional investors and hedge funds.

Kirby Stock Up 0.6%

Shares of NYSE KEX opened at $83.44 on Tuesday. The firm’s 50-day moving average is $92.94 and its two-hundred day moving average is $102.09. The company has a market capitalization of $4.66 billion, a PE ratio of 15.77, a price-to-earnings-growth ratio of 0.86 and a beta of 1.00. Kirby Corporation has a 12-month low of $81.90 and a 12-month high of $132.21. The company has a debt-to-equity ratio of 0.33, a current ratio of 1.74 and a quick ratio of 1.12.

Kirby (NYSE:KEX) last issued its quarterly earnings data on Thursday, July 31st. The shipping company reported $1.67 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.59 by $0.08. The firm had revenue of $855.46 million during the quarter, compared to the consensus estimate of $851.94 million. Kirby had a return on equity of 10.02% and a net margin of 9.25%.The company’s quarterly revenue was up 3.8% compared to the same quarter last year. During the same period in the previous year, the firm posted $1.43 EPS. Equities analysts anticipate that Kirby Corporation will post 6.57 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

KEX has been the subject of a number of analyst reports. Citigroup assumed coverage on shares of Kirby in a research report on Monday, September 22nd. They set a “neutral” rating and a $91.00 price objective for the company. Bank of America reduced their price objective on shares of Kirby from $110.00 to $107.00 and set a “buy” rating for the company in a research report on Wednesday, September 3rd. BTIG Research reiterated a “buy” rating and set a $125.00 target price on shares of Kirby in a research report on Thursday, September 18th. Zacks Research raised Kirby from a “strong sell” rating to a “hold” rating in a research note on Wednesday, September 3rd. Finally, Weiss Ratings restated a “hold (c+)” rating on shares of Kirby in a research note on Saturday, September 27th. Three investment analysts have rated the stock with a Buy rating and three have issued a Hold rating to the company. According to MarketBeat, Kirby has a consensus rating of “Moderate Buy” and an average price target of $114.50.

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.