Fmr LLC Sells 27,831 Shares of Kirby Co. (NYSE:KEX)

Fmr LLC decreased its holdings in shares of Kirby Co. (NYSE:KEX) by 2.4% in the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,134,357 shares of the shipping company’s stock after selling 27,831 shares during the period. Fmr LLC’s holdings in Kirby were worth $138,879,000 as of its most recent SEC filing.

Other institutional investors also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC lifted its position in shares of Kirby by 420.0% during the 3rd quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock worth $25,000 after buying an additional 168 shares during the period. International Assets Investment Management LLC acquired a new stake in shares of Kirby in the 2nd quarter valued at $26,000. ORG Wealth Partners LLC bought a new stake in shares of Kirby in the 3rd quarter worth about $30,000. ORG Partners LLC acquired a new stake in shares of Kirby during the 2nd quarter worth about $32,000. Finally, Opal Wealth Advisors LLC bought a new position in Kirby during the 2nd quarter valued at about $33,000. 96.15% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at Kirby

In related news, COO Christian G. O’neil sold 15,041 shares of the stock in a transaction that occurred on Tuesday, November 12th. The shares were sold at an average price of $130.00, for a total value of $1,955,330.00. Following the transaction, the chief operating officer now directly owns 7,746 shares in the company, valued at $1,006,980. This represents a 66.01 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO David W. Grzebinski sold 26,358 shares of Kirby stock in a transaction on Monday, September 16th. The stock was sold at an average price of $120.46, for a total transaction of $3,175,084.68. Following the sale, the chief executive officer now directly owns 63,399 shares of the company’s stock, valued at $7,637,043.54. This represents a 29.37 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 68,596 shares of company stock worth $8,541,440. Insiders own 1.40% of the company’s stock.

Kirby Stock Down 1.2 %

Shares of NYSE KEX opened at $123.38 on Wednesday. Kirby Co. has a 12-month low of $72.11 and a 12-month high of $132.21. The firm’s 50-day simple moving average is $124.14 and its 200 day simple moving average is $121.02. The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.29. The company has a market cap of $7.08 billion, a price-to-earnings ratio of 23.68, a price-to-earnings-growth ratio of 0.74 and a beta of 1.18.

Kirby (NYSE:KEX) last announced its earnings results on Wednesday, October 30th. The shipping company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08. The company had revenue of $831.10 million for the quarter, compared to analyst estimates of $824.42 million. Kirby had a net margin of 9.37% and a return on equity of 9.43%. Kirby’s quarterly revenue was up 8.7% on a year-over-year basis. During the same period in the prior year, the business earned $1.05 earnings per share. On average, research analysts expect that Kirby Co. will post 5.45 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Separately, StockNews.com cut shares of Kirby from a “buy” rating to a “hold” rating in a research note on Sunday, September 22nd. One equities research analyst has rated the stock with a hold rating and five have given a buy rating to the stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Moderate Buy” and an average target price of $123.80.

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.