Truist Financial Corp Has $550,000 Stock Position in Kirby Co. (NYSE:KEX)

Truist Financial Corp boosted its stake in Kirby Co. (NYSE:KEX – Get Rating) by 5.8% during the third quarter, Holdings Channel reports. The institutional investor owned 9,043 shares of the shipping company’s stock after buying an additional 497 shares during the period. Truist Financial Corp’s holdings in Kirby were worth $550,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds have also bought and sold shares of KEX. Jennison Associates LLC grew its stake in Kirby by 272.4% in the 2nd quarter. Jennison Associates LLC now owns 518,218 shares of the shipping company’s stock valued at $31,528,000 after buying an additional 379,062 shares during the last quarter. Encompass Capital Advisors LLC acquired a new position in Kirby in the 2nd quarter valued at about $20,978,000. JCP Investment Management LLC grew its stake in Kirby by 94.7% in the 2nd quarter. JCP Investment Management LLC now owns 571,589 shares of the shipping company’s stock valued at $34,775,000 after buying an additional 278,079 shares during the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of Kirby by 64.3% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 576,527 shares of the shipping company’s stock worth $41,620,000 after purchasing an additional 225,645 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of Kirby by 51.7% during the 2nd quarter. Goldman Sachs Group Inc. now owns 610,118 shares of the shipping company’s stock worth $37,120,000 after purchasing an additional 208,028 shares in the last quarter. Institutional investors and hedge funds own 94.94% of the company’s stock.

Kirby Stock Performance

Shares of NYSE:KEX opened at $63.76 on Monday. The company has a quick ratio of 1.29, a current ratio of 1.97 and a debt-to-equity ratio of 0.37. The firm has a market cap of $3.82 billion, a PE ratio of 40.10, a PEG ratio of 1.53 and a beta of 1.27. The company’s 50 day moving average price is $65.34 and its two-hundred day moving average price is $65.32. Kirby Co. has a 12-month low of $55.03 and a 12-month high of $75.08.

Kirby (NYSE:KEX – Get Rating) last released its earnings results on Monday, October 24th. The shipping company reported $0.65 earnings per share for the quarter, topping the consensus estimate of $0.60 by $0.05. Kirby had a return on equity of 3.51% and a net margin of 3.63%. The firm had revenue of $745.80 million during the quarter, compared to analysts’ expectations of $729.58 million. During the same period in the prior year, the company earned $0.17 earnings per share. The company’s quarterly revenue was up 24.5% on a year-over-year basis. Equities research analysts predict that Kirby Co. will post 2.08 earnings per share for the current year.

Analyst Upgrades and Downgrades

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

About Kirby

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Kirby Corp. engages in the provision of diesel engines, reduction gears and ancillary products for marine and power generation applications. It operates through the following business segments: Marine Transportation and Distribution & Services segment. The Marine Transportation segment provides marine transportation services, operates tank barges and towing vessels transporting bulk liquid products and transports petrochemicals, refined petroleum and black oil products, and agricultural chemicals by tank barge.