Envestnet Asset Management Inc. Has $991,000 Stock Holdings in Kirby Co. (NYSE:KEX)

Envestnet Asset Management Inc. lessened its holdings in Kirby Co. (NYSE:KEX – Get Rating) by 2.1% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 15,402 shares of the shipping company’s stock after selling 323 shares during the period. Envestnet Asset Management Inc.’s holdings in Kirby were worth $991,000 at the end of the most recent quarter.

Several other hedge funds have also recently added to or reduced their stakes in the business. Point72 Hong Kong Ltd acquired a new stake in shares of Kirby during the first quarter worth approximately $47,000. Zurcher Kantonalbank Zurich Cantonalbank increased its holdings in shares of Kirby by 28.9% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 2,255 shares of the shipping company’s stock worth $145,000 after buying an additional 506 shares in the last quarter. Kestra Advisory Services LLC acquired a new stake in shares of Kirby during the fourth quarter worth approximately $201,000. American Century Companies Inc. acquired a new stake in shares of Kirby during the first quarter worth approximately $201,000. Finally, Cadent Capital Advisors LLC acquired a new stake in shares of Kirby during the fourth quarter worth approximately $202,000. Institutional investors and hedge funds own 94.94% of the company’s stock.

Insider Buying and Selling

In related news, VP Kurt A. Niemietz sold 750 shares of the firm’s stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $74.23, for a total transaction of $55,672.50. Following the sale, the vice president now directly owns 675 shares in the company, valued at $50,105.25. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. In other Kirby news, CEO David W. Grzebinski sold 2,000 shares of Kirby stock in a transaction on Monday, April 3rd. The shares were sold at an average price of $69.65, for a total value of $139,300.00. Following the sale, the chief executive officer now directly owns 82,006 shares in the company, valued at approximately $5,711,717.90. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, VP Kurt A. Niemietz sold 750 shares of Kirby stock in a transaction on Tuesday, March 7th. The shares were sold at an average price of $74.23, for a total transaction of $55,672.50. Following the completion of the sale, the vice president now owns 675 shares in the company, valued at $50,105.25. The disclosure for this sale can be found here. Insiders have sold a total of 5,750 shares of company stock worth $412,383 over the last ninety days. Company insiders own 1.50% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on the stock. Bank of America raised their price objective on shares of Kirby from $77.00 to $82.00 and gave the stock a “buy” rating in a report on Tuesday, February 7th. Stephens increased their price target on shares of Kirby from $85.00 to $90.00 and gave the company an “overweight” rating in a research note on Wednesday, February 1st. StockNews.com began coverage on shares of Kirby in a research note on Thursday, May 18th. They issued a “hold” rating on the stock. TheStreet raised shares of Kirby from a “c+” rating to a “b-” rating in a research note on Monday, March 13th. Finally, Stifel Nicolaus raised their price objective on shares of Kirby from $83.00 to $85.00 in a research note on Friday, April 28th. One analyst has rated the stock with a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $86.75.

Kirby Trading Up 0.5 %

Shares of NYSE KEX opened at $72.80 on Friday. The company’s fifty day moving average is $69.62 and its 200-day moving average is $68.55. The stock has a market cap of $4.37 billion, a price-to-earnings ratio of 30.11, a P/E/G ratio of 1.72 and a beta of 1.27. Kirby Co. has a twelve month low of $55.03 and a twelve month high of $76.34. The company has a quick ratio of 1.18, a current ratio of 1.95 and a debt-to-equity ratio of 0.35.

Kirby (NYSE:KEX – Get Rating) last announced its quarterly earnings results on Thursday, April 27th. The shipping company reported $0.68 earnings per share for the quarter, topping analysts’ consensus estimates of $0.65 by $0.03. Kirby had a net margin of 4.98% and a return on equity of 4.99%. The company had revenue of $750.44 million for the quarter, compared to analysts’ expectations of $723.67 million. During the same period last year, the firm posted $0.29 earnings per share. The business’s quarterly revenue was up 22.9% compared to the same quarter last year. Equities research analysts predict that Kirby Co. will post 3.55 EPS for the current year.

About Kirby

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Kirby Corp. is a tank barge operator, which engages in transporting bulk liquid products. It transports petrochemicals, black oil, refined petroleum products, and agricultural chemicals. It operates through Marine Transportation and Distribution and Services segments. The Marine Transportation segment provides marine transportation by United States flagged vessels principally of liquid cargoes throughout the United States inland waterway system.