Pathstone Holdings LLC Acquires 432 Shares of Kirby Co. (NYSE:KEX)

Pathstone Holdings LLC boosted its stake in shares of Kirby Co. (NYSE:KEX) by 3.6% in the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 12,554 shares of the shipping company’s stock after purchasing an additional 432 shares during the quarter. Pathstone Holdings LLC’s holdings in Kirby were worth $1,537,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of KEX. Select Equity Group L.P. bought a new stake in shares of Kirby during the 2nd quarter worth about $65,928,000. Encompass Capital Advisors LLC boosted its holdings in shares of Kirby by 33.9% during the second quarter. Encompass Capital Advisors LLC now owns 887,384 shares of the shipping company’s stock worth $106,246,000 after acquiring an additional 224,802 shares during the period. Victory Capital Management Inc. grew its position in shares of Kirby by 68.7% in the third quarter. Victory Capital Management Inc. now owns 477,233 shares of the shipping company’s stock valued at $58,428,000 after purchasing an additional 194,410 shares during the last quarter. Artemis Investment Management LLP bought a new position in shares of Kirby during the third quarter worth approximately $22,106,000. Finally, F M Investments LLC acquired a new stake in Kirby during the 2nd quarter worth approximately $14,185,000. 96.15% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, StockNews.com lowered Kirby from a “buy” rating to a “hold” rating in a report on Sunday, September 22nd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Moderate Buy” and a consensus price target of $123.80.

Kirby Stock Down 2.6 %

Shares of KEX opened at $126.36 on Friday. The company has a current ratio of 1.67, a quick ratio of 1.05 and a debt-to-equity ratio of 0.29. Kirby Co. has a 12 month low of $72.11 and a 12 month high of $132.21. The firm’s 50 day moving average is $124.12 and its 200-day moving average is $120.75. The stock has a market capitalization of $7.25 billion, a PE ratio of 24.25, a P/E/G ratio of 0.77 and a beta of 1.17.

Kirby (NYSE:KEX) last issued its quarterly 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 business had revenue of $831.10 million for the quarter, compared to the consensus estimate of $824.42 million. Kirby had a return on equity of 9.43% and a net margin of 9.37%. The firm’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.05 earnings per share. Equities research analysts forecast that Kirby Co. will post 5.45 EPS for the current year.

Insider Buying and Selling

In related news, CEO David W. Grzebinski sold 26,358 shares of the stock in a transaction that occurred on Monday, September 16th. The shares were 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 owns 63,399 shares in the company, valued at approximately $7,637,043.54. This trade represents a 29.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Director Richard Ross Stewart sold 8,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $128.21, for a total transaction of $1,025,680.00. Following the transaction, the director now owns 15,488 shares of the company’s stock, valued at approximately $1,985,716.48. This represents a 34.06 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 68,596 shares of company stock worth $8,541,440. Company insiders own 1.50% of the company’s stock.

Kirby Company 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.