Burney Co. Acquires New Holdings in Kirby Corporation $KEX

Burney Co. bought a new position in shares of Kirby Corporation (NYSE:KEX) during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 5,810 shares of the shipping company’s stock, valued at approximately $772,000.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Goldman Sachs Group Inc. increased its holdings in shares of Kirby by 30.4% in the first quarter. Goldman Sachs Group Inc. now owns 491,355 shares of the shipping company’s stock worth $49,632,000 after purchasing an additional 114,618 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in Kirby by 152.7% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 182,565 shares of the shipping company’s stock worth $18,441,000 after acquiring an additional 110,320 shares during the last quarter. Cerity Partners LLC increased its stake in Kirby by 68.6% in the 2nd quarter. Cerity Partners LLC now owns 20,096 shares of the shipping company’s stock worth $2,279,000 after acquiring an additional 8,174 shares during the last quarter. California Public Employees Retirement System raised its holdings in shares of Kirby by 3.5% in the 2nd quarter. California Public Employees Retirement System now owns 96,565 shares of the shipping company’s stock valued at $10,951,000 after acquiring an additional 3,292 shares in the last quarter. Finally, NewEdge Advisors LLC raised its holdings in shares of Kirby by 52,000.0% in the 2nd quarter. NewEdge Advisors LLC now owns 2,084 shares of the shipping company’s stock valued at $236,000 after acquiring an additional 2,080 shares in the last quarter. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Kirby Trading Up 0.6%

KEX stock opened at $142.36 on Friday. The company has a market capitalization of $7.62 billion, a PE ratio of 21.90, a price-to-earnings-growth ratio of 1.44 and a beta of 0.83. Kirby Corporation has a one year low of $79.51 and a one year high of $157.69. The company’s 50 day moving average price is $141.58 and its two-hundred day moving average price is $133.24. The company has a debt-to-equity ratio of 0.29, a quick ratio of 1.01 and a current ratio of 1.59.

Kirby (NYSE:KEX) last announced its quarterly earnings data on Thursday, April 30th. The shipping company reported $1.50 earnings per share for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analyst estimates of $832.57 million. During the same period in the previous year, the business posted $1.33 EPS. The business’s quarterly revenue was up 7.4% on a year-over-year basis. Kirby has set its FY 2026 guidance at 6.650-7.280 EPS. As a group, analysts predict that Kirby Corporation will post 7.06 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Citigroup upped their price objective on shares of Kirby from $147.00 to $160.00 and gave the stock a “buy” rating in a research report on Thursday, April 9th. BTIG Research lifted their target price on shares of Kirby from $160.00 to $170.00 and gave the company a “buy” rating in a research report on Thursday, April 30th. Evercore reissued an “outperform” rating and issued a $158.00 price target on shares of Kirby in a research note on Friday, May 1st. Wall Street Zen raised shares of Kirby from a “hold” rating to a “buy” rating in a research note on Saturday, June 13th. Finally, Weiss Ratings lowered shares of Kirby from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, July 1st. Five equities research analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the company. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and an average target price of $161.20.

Insider Buying and Selling at Kirby

In other Kirby news, VP Ronald A. Dragg sold 1,726 shares of the company’s stock in a transaction dated Monday, May 4th. The shares were sold at an average price of $145.01, for a total transaction of $250,287.26. Following the completion of the sale, the vice president directly owned 8,673 shares in the company, valued at $1,257,671.73. This represents a 16.60% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, COO Christian G. O’neil sold 11,287 shares of the firm’s stock in a transaction dated Friday, May 15th. The shares were sold at an average price of $145.93, for a total value of $1,647,111.91. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders sold 17,691 shares of company stock valued at $2,579,036. Company insiders own 0.80% of the company’s stock.

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.