Louisiana State Employees Retirement System Makes New Investment in World Kinect Corporation $WKC

Louisiana State Employees Retirement System bought a new position in World Kinect Corporation (NYSE:WKC) in the 1st quarter, HoldingsChannel.com reports. The institutional investor bought 24,600 shares of the company’s stock, valued at approximately $568,000.

Other large investors have also made changes to their positions in the company. Royal Bank of Canada lifted its position in shares of World Kinect by 2.2% in the 1st quarter. Royal Bank of Canada now owns 68,228 shares of the company’s stock valued at $1,934,000 after acquiring an additional 1,481 shares in the last quarter. AQR Capital Management LLC lifted its holdings in shares of World Kinect by 16.5% in the first quarter. AQR Capital Management LLC now owns 119,198 shares of the company’s stock valued at $3,380,000 after purchasing an additional 16,874 shares in the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its position in shares of World Kinect by 4.6% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 33,972 shares of the company’s stock worth $963,000 after buying an additional 1,497 shares during the period. Millennium Management LLC grew its holdings in shares of World Kinect by 3.3% during the first quarter. Millennium Management LLC now owns 525,697 shares of the company’s stock valued at $14,909,000 after buying an additional 16,738 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC raised its position in World Kinect by 18.7% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 220,791 shares of the company’s stock valued at $6,262,000 after buying an additional 34,807 shares during the period. Institutional investors and hedge funds own 97.06% of the company’s stock.

World Kinect Trading Up 0.0%

NYSE:WKC opened at $33.18 on Wednesday. The stock’s 50 day moving average price is $29.93 and its 200 day moving average price is $26.64. World Kinect Corporation has a 52 week low of $22.21 and a 52 week high of $33.95. The company has a market capitalization of $1.70 billion, a P/E ratio of -3.25, a P/E/G ratio of 0.68 and a beta of 1.19. The company has a debt-to-equity ratio of 0.65, a quick ratio of 0.87 and a current ratio of 1.05.

World Kinect (NYSE:WKC) last posted its earnings results on Thursday, April 23rd. The company reported $0.75 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.31 by $0.44. The firm had revenue of $9.69 billion during the quarter, compared to analysts’ expectations of $9.29 billion. World Kinect had a negative net margin of 1.53% and a positive return on equity of 8.27%. The company’s revenue was up 2.5% compared to the same quarter last year. During the same period in the previous year, the company earned $0.48 earnings per share. World Kinect has set its FY 2026 guidance at 2.650-2.850 EPS. On average, research analysts forecast that World Kinect Corporation will post 2.79 EPS for the current fiscal year.

World Kinect Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, July 16th. Investors of record on Tuesday, June 30th will be issued a $0.23 dividend. This is a boost from World Kinect’s previous quarterly dividend of $0.20. This represents a $0.92 dividend on an annualized basis and a yield of 2.8%. The ex-dividend date is Tuesday, June 30th. World Kinect’s dividend payout ratio is currently -9.01%.

Analysts Set New Price Targets

Several equities analysts have weighed in on the company. Wall Street Zen raised World Kinect from a “hold” rating to a “buy” rating in a research note on Saturday, May 2nd. Zacks Research downgraded shares of World Kinect from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, June 2nd. Morgan Stanley increased their target price on shares of World Kinect from $25.00 to $26.00 and gave the stock an “underweight” rating in a research report on Tuesday, May 5th. Finally, Weiss Ratings upgraded shares of World Kinect from a “sell (d+)” rating to a “hold (c-)” rating in a report on Monday, June 29th. One investment analyst has rated the stock with a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $29.50.

Insider Buying and Selling

In other World Kinect news, Chairman Michael J. Kasbar sold 23,653 shares of the business’s stock in a transaction dated Friday, April 24th. The stock was sold at an average price of $28.18, for a total value of $666,541.54. Following the completion of the sale, the chairman owned 1,062,797 shares of the company’s stock, valued at $29,949,619.46. The trade was a 2.18% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Director Richard A. Kassar sold 10,000 shares of the company’s stock in a transaction dated Monday, May 11th. The stock was sold at an average price of $26.97, for a total value of $269,700.00. Following the sale, the director owned 53,812 shares of the company’s stock, valued at approximately $1,451,309.64. This trade represents a 15.67% decrease in their position. The SEC filing for this sale provides additional information. Insiders have sold 107,928 shares of company stock valued at $3,107,065 in the last three months. 3.80% of the stock is currently owned by corporate insiders.

World Kinect Profile

World Kinect Energy Services, Inc (NYSE: WKC) is a global energy services company specializing in fuel procurement, supply chain management and risk mitigation solutions. The company offers an integrated platform that facilitates the sourcing, trading and logistics of refined fuels, natural gas, liquefied natural gas (LNG) and renewable energy products. Its services are designed to help industrial, commercial and institutional clients optimize energy costs, comply with environmental regulations and manage price volatility.

In addition to traditional commodity trading and delivery, World Kinect provides a suite of value-added services that include carbon offset and decarbonization strategies, energy efficiency consulting and emissions reporting.