Legal & General Group Plc Takes $4.98 Million Position in World Kinect Corporation $WKC

Legal & General Group Plc purchased a new stake in shares of World Kinect Corporation (NYSE:WKC) in the 2nd quarter, Holdings Channel reports. The fund purchased 151,265 shares of the company’s stock, valued at approximately $4,983,000.

A number of other hedge funds also recently added to or reduced their stakes in the company. Pacer Advisors Inc. bought a new stake in shares of World Kinect in the 4th quarter worth $9,427,000. Vanguard Group Inc. boosted its position in shares of World Kinect by 0.9% during the fourth quarter. Vanguard Group Inc. now owns 6,713,507 shares of the company’s stock valued at $157,297,000 after buying an additional 62,111 shares during the last quarter. UBS Group AG boosted its position in shares of World Kinect by 38.1% during the fourth quarter. UBS Group AG now owns 226,440 shares of the company’s stock valued at $5,305,000 after buying an additional 62,492 shares during the last quarter. GSA Capital Partners LLP increased its holdings in World Kinect by 98.6% in the 4th quarter. GSA Capital Partners LLP now owns 96,774 shares of the company’s stock worth $2,267,000 after buying an additional 48,048 shares in the last quarter. Finally, Jefferies Financial Group Inc. purchased a new position in World Kinect in the 4th quarter worth about $413,000. 97.06% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of analysts have recently issued reports on WKC shares. Weiss Ratings downgraded shares of World Kinect from a “hold (c-)” rating to a “sell (d)” rating in a report on Tuesday, July 28th. Wall Street Zen cut shares of World Kinect from a “strong-buy” rating to a “buy” rating in a report on Saturday, August 29th. Morgan Stanley set a $30.00 target price on shares of World Kinect in a research report on Wednesday, July 29th. Finally, Zacks Research upgraded shares of World Kinect from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, July 22nd. One analyst has rated the stock with a Strong Buy rating and two have assigned a Sell rating to the stock. Based on data from MarketBeat, World Kinect currently has a consensus rating of “Hold” and a consensus target price of $30.00.

World Kinect Price Performance

NYSE WKC opened at $35.10 on Friday. World Kinect Corporation has a 52 week low of $22.21 and a 52 week high of $41.20. The firm has a market capitalization of $1.80 billion, a P/E ratio of -10.93, a PEG ratio of 0.54 and a beta of 1.16. The company has a quick ratio of 0.91, a current ratio of 1.06 and a debt-to-equity ratio of 0.58. The company has a 50-day moving average price of $36.20 and a 200-day moving average price of $29.84.

World Kinect (NYSE:WKC) last posted its quarterly earnings data on Thursday, July 23rd. The company reported $1.29 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.75 by $0.54. The company had revenue of $13.59 billion for the quarter, compared to the consensus estimate of $10.50 billion. World Kinect had a negative net margin of 0.43% and a positive return on equity of 11.24%. The firm’s revenue was up 50.3% compared to the same quarter last year. During the same quarter last year, the firm posted $0.59 earnings per share. World Kinect has set its FY 2026 guidance at 3.200-3.400 EPS. Equities research analysts anticipate that World Kinect Corporation will post 3.6 earnings per share for the current year.

World Kinect Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Tuesday, June 30th were paid a dividend of $0.23 per share. The ex-dividend date was Tuesday, June 30th. This represents a $0.92 annualized dividend and a dividend yield of 2.6%. This is a boost from World Kinect’s previous quarterly dividend of $0.20. World Kinect’s dividend payout ratio is -28.66%.

Insider Buying and Selling at World Kinect

In related news, Director John L. Manley sold 10,000 shares of World Kinect stock in a transaction on Wednesday, July 29th. The stock was sold at an average price of $39.88, for a total transaction of $398,800.00. Following the transaction, the director directly owned 54,116 shares in the company, valued at approximately $2,158,146.08. The trade was a 15.60% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, EVP Jose-Miguel Tejada sold 6,000 shares of the business’s stock in a transaction dated Thursday, August 13th. The shares were sold at an average price of $37.16, for a total value of $222,960.00. Following the sale, the executive vice president directly owned 35,676 shares of the company’s stock, valued at $1,325,720.16. This represents a 14.40% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last quarter, insiders have sold 113,745 shares of company stock worth $4,143,400. 3.80% of the stock is owned by insiders.

World Kinect Company 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.