Ieq Capital LLC Buys New Stake in Kirby Co. (NYSE:KEX)

Ieq Capital LLC acquired a new stake in Kirby Co. (NYSE:KEX) during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 2,431 shares of the shipping company’s stock, valued at approximately $257,000.

Several other institutional investors and hedge funds have also made changes to their positions in KEX. Quest Partners LLC lifted its holdings in Kirby by 0.7% in the 3rd quarter. Quest Partners LLC now owns 12,462 shares of the shipping company’s stock valued at $1,526,000 after purchasing an additional 89 shares in the last quarter. Americana Partners LLC lifted its stake in shares of Kirby by 2.1% during the third quarter. Americana Partners LLC now owns 4,900 shares of the shipping company’s stock valued at $600,000 after buying an additional 100 shares during the period. Janney Montgomery Scott LLC lifted its stake in shares of Kirby by 1.3% during the fourth quarter. Janney Montgomery Scott LLC now owns 8,459 shares of the shipping company’s stock valued at $895,000 after buying an additional 108 shares during the period. Huntington National Bank lifted its stake in shares of Kirby by 8.5% during the third quarter. Huntington National Bank now owns 1,668 shares of the shipping company’s stock valued at $204,000 after buying an additional 130 shares during the period. Finally, Creative Planning lifted its stake in shares of Kirby by 2.2% during the third quarter. Creative Planning now owns 6,683 shares of the shipping company’s stock valued at $818,000 after buying an additional 147 shares during the period. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Kirby Stock Performance

NYSE:KEX opened at $104.19 on Friday. The company has a quick ratio of 1.05, a current ratio of 1.45 and a debt-to-equity ratio of 0.26. The company has a market cap of $5.95 billion, a P/E ratio of 21.22, a P/E/G ratio of 0.88 and a beta of 1.19. Kirby Co. has a fifty-two week low of $86.02 and a fifty-two week high of $132.21. The firm’s 50 day moving average is $106.80 and its two-hundred day moving average is $116.16.

Kirby (NYSE:KEX) last issued its earnings results on Thursday, January 30th. The shipping company reported $1.29 earnings per share for the quarter, missing the consensus estimate of $1.30 by ($0.01). Kirby had a return on equity of 9.71% and a net margin of 8.78%. Analysts expect that Kirby Co. will post 6.57 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have weighed in on KEX shares. Stifel Nicolaus reduced their price target on Kirby from $136.00 to $135.00 and set a “buy” rating on the stock in a research note on Friday, January 31st. StockNews.com downgraded Kirby from a “buy” rating to a “hold” rating in a research report on Thursday, January 9th. One research analyst has rated the stock with a hold rating and four have assigned a buy rating to the stock. According to data from MarketBeat.com, Kirby has an average rating of “Moderate Buy” and an average target price of $129.25.

Insider Transactions at Kirby

In related news, VP Scott P. Miller sold 1,244 shares of Kirby stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $107.61, for a total transaction of $133,866.84. Following the transaction, the vice president now owns 5,545 shares in the company, valued at approximately $596,697.45. The trade was a 18.32 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. 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.