Hsbc Holdings PLC Sells 77,469 Shares of Kirby Corporation $KEX

Hsbc Holdings PLC lowered its position in shares of Kirby Corporation (NYSE:KEX) by 89.6% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 9,008 shares of the shipping company’s stock after selling 77,469 shares during the quarter. Hsbc Holdings PLC’s holdings in Kirby were worth $1,206,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Fifth Third Wealth Advisors LLC increased its holdings in Kirby by 4.2% during the 1st quarter. Fifth Third Wealth Advisors LLC now owns 1,917 shares of the shipping company’s stock valued at $255,000 after purchasing an additional 77 shares during the period. Fifth Third Bancorp grew its position in shares of Kirby by 18.2% in the 4th quarter. Fifth Third Bancorp now owns 739 shares of the shipping company’s stock worth $81,000 after buying an additional 114 shares during the last quarter. M&T Bank Corp increased its stake in shares of Kirby by 2.5% during the fourth quarter. M&T Bank Corp now owns 5,179 shares of the shipping company’s stock valued at $571,000 after buying an additional 125 shares during the period. Parallel Advisors LLC raised its holdings in shares of Kirby by 50.0% during the fourth quarter. Parallel Advisors LLC now owns 402 shares of the shipping company’s stock valued at $44,000 after acquiring an additional 134 shares in the last quarter. Finally, Oppenheimer & Co. Inc. lifted its stake in Kirby by 1.2% in the fourth quarter. Oppenheimer & Co. Inc. now owns 11,840 shares of the shipping company’s stock worth $1,305,000 after acquiring an additional 135 shares during the period. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have issued reports on the stock. Weiss Ratings raised shares of Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Friday, July 17th. Bank of America raised their target price on shares of Kirby from $169.00 to $182.00 and gave the stock a “buy” rating in a research report on Wednesday, July 8th. Wall Street Zen upgraded shares of Kirby from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Evercore reissued an “outperform” rating and issued a $158.00 price target on shares of Kirby in a research note on Friday, May 1st. Finally, BTIG Research restated a “buy” rating and issued a $170.00 price objective on shares of Kirby in a report on Tuesday, July 14th. Six equities research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and an average target price of $162.20.

Insiders Place Their Bets

In related news, COO Christian G. O’neil sold 11,287 shares of the stock in a transaction on Friday, May 15th. The stock was sold at an average price of $145.93, for a total transaction of $1,647,111.91. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Also, VP William Matthew Woodruff sold 678 shares of Kirby stock in a transaction dated Friday, May 15th. The stock was sold at an average price of $147.37, for a total value of $99,916.86. Following the completion of the sale, the vice president owned 9 shares of the company’s stock, valued at $1,326.33. The trade was a 98.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last quarter, insiders have sold 17,691 shares of company stock valued at $2,579,036. 0.80% of the stock is currently owned by company insiders.

Kirby Stock Performance

Shares of Kirby stock opened at $145.77 on Wednesday. Kirby Corporation has a 1 year low of $79.51 and a 1 year high of $157.69. The firm’s 50-day moving average is $141.47 and its 200 day moving average is $136.20. The stock has a market cap of $7.80 billion, a price-to-earnings ratio of 22.43, a PEG ratio of 1.27 and a beta of 0.83. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.59 and a quick ratio of 1.01.

Kirby (NYSE:KEX) last issued its earnings results on Thursday, April 30th. The shipping company reported $1.50 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.41 by $0.09. Kirby had a net margin of 10.51% and a return on equity of 10.62%. The firm had revenue of $844.10 million for the quarter, compared to the consensus estimate of $832.57 million. During the same quarter in the prior year, the firm posted $1.33 earnings per share. The business’s revenue was up 7.4% on a year-over-year basis. Kirby has set its FY 2026 guidance at 6.650-7.280 EPS. Sell-side analysts anticipate that Kirby Corporation will post 7.06 EPS for the current fiscal year.

Kirby Company Profile

Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America’s largest fleets of inland tank barges and towing vessels. Kirby’s fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.

In addition to its marine operations, Kirby’s Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.