Kirby Co. (NYSE:KEX) Shares Sold by FORA Capital LLC

FORA Capital LLC cut its holdings in Kirby Co. (NYSE:KEX) by 56.6% during the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 1,842 shares of the shipping company’s stock after selling 2,398 shares during the period. FORA Capital LLC’s holdings in Kirby were worth $226,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Farther Finance Advisors LLC raised its position in Kirby by 420.0% in the third quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock valued at $25,000 after purchasing an additional 168 shares during the period. International Assets Investment Management LLC purchased a new stake in Kirby in the second quarter valued at approximately $26,000. ORG Wealth Partners LLC purchased a new stake in Kirby in the third quarter valued at approximately $30,000. ORG Partners LLC purchased a new stake in Kirby in the second quarter valued at approximately $32,000. Finally, Opal Wealth Advisors LLC purchased a new stake in Kirby in the second quarter valued at approximately $33,000. Hedge funds and other institutional investors own 96.15% of the company’s stock.

Kirby Stock Performance

NYSE:KEX opened at $126.51 on Friday. The firm has a market capitalization of $7.26 billion, a PE ratio of 24.28, a price-to-earnings-growth ratio of 0.75 and a beta of 1.17. The business’s fifty day moving average price is $124.16 and its 200 day moving average price is $120.84. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.67 and a quick ratio of 1.05. Kirby Co. has a 12 month low of $72.11 and a 12 month high of $132.21.

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

Insider Activity at Kirby

In other Kirby news, COO Christian G. O’neil sold 15,041 shares of the company’s stock in a transaction 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 completion of the transaction, the chief operating officer now 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 transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, CEO David W. Grzebinski sold 26,358 shares of the company’s stock in a transaction 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 completion of the transaction, the chief executive officer now 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. Insiders have sold 68,596 shares of company stock valued at $8,541,440 over the last quarter. 1.50% of the stock is owned by insiders.

Analysts Set New Price Targets

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

About Kirby

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.