Envestnet Asset Management Inc. Boosts Stock Position in Kirby Co. (NYSE:KEX)

Envestnet Asset Management Inc. grew its holdings in shares of Kirby Co. (NYSE:KEXGet Rating) by 19.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 15,986 shares of the shipping company’s stock after buying an additional 2,606 shares during the quarter. Envestnet Asset Management Inc.’s holdings in Kirby were worth $973,000 as of its most recent SEC filing.

Other hedge funds have also made changes to their positions in the company. Meeder Asset Management Inc. bought a new stake in shares of Kirby in the 1st quarter worth about $47,000. Point72 Hong Kong Ltd acquired a new stake in Kirby during the first quarter valued at approximately $47,000. Parallel Advisors LLC lifted its holdings in Kirby by 391.5% during the 2nd quarter. Parallel Advisors LLC now owns 865 shares of the shipping company’s stock worth $53,000 after buying an additional 689 shares during the last quarter. US Bancorp DE grew its position in shares of Kirby by 26.9% in the 2nd quarter. US Bancorp DE now owns 2,307 shares of the shipping company’s stock worth $140,000 after acquiring an additional 489 shares in the last quarter. Finally, American Century Companies Inc. bought a new stake in shares of Kirby in the 1st quarter valued at approximately $201,000. Institutional investors and hedge funds own 95.26% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, StockNews.com assumed coverage on shares of Kirby in a research note on Wednesday, October 12th. They set a “hold” rating for the company.

Kirby Stock Performance

Shares of KEX stock opened at $69.05 on Friday. The company has a market cap of $4.14 billion, a P/E ratio of 43.43, a PEG ratio of 2.77 and a beta of 1.27. The business has a 50 day moving average of $66.44 and a two-hundred day moving average of $65.02. Kirby Co. has a 52 week low of $50.58 and a 52 week high of $75.08. The company has a quick ratio of 1.29, a current ratio of 1.97 and a debt-to-equity ratio of 0.37.

Kirby (NYSE:KEXGet Rating) last announced its quarterly earnings results on Monday, October 24th. The shipping company reported $0.65 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.59 by $0.06. The business had revenue of $745.80 million for the quarter, compared to the consensus estimate of $729.58 million. Kirby had a return on equity of 3.51% and a net margin of 3.63%. The business’s revenue was up 24.5% on a year-over-year basis. During the same quarter last year, the business posted $0.17 EPS. As a group, analysts anticipate that Kirby Co. will post 2.08 EPS for the current year.

Kirby Profile

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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.

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Institutional Ownership by Quarter for Kirby (NYSE:KEX)

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