Kirby Co. (NYSE:KEX) Stock Holdings Decreased by Ontario Teachers Pension Plan Board

Ontario Teachers Pension Plan Board lessened its holdings in shares of Kirby Co. (NYSE:KEX) by 78.9% during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 5,732 shares of the shipping company’s stock after selling 21,439 shares during the quarter. Ontario Teachers Pension Plan Board’s holdings in Kirby were worth $702,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in the stock. Select Equity Group L.P. acquired a new position in Kirby during the second quarter worth $65,928,000. Encompass Capital Advisors LLC lifted its stake in Kirby by 33.9% in the 2nd quarter. Encompass Capital Advisors LLC now owns 887,384 shares of the shipping company’s stock valued at $106,246,000 after purchasing an additional 224,802 shares during the last quarter. Victory Capital Management Inc. lifted its holdings in Kirby by 68.7% during the 3rd quarter. Victory Capital Management Inc. now owns 477,233 shares of the shipping company’s stock worth $58,428,000 after purchasing an additional 194,410 shares during the last quarter. Artemis Investment Management LLP bought a new stake in Kirby during the third quarter worth about $22,106,000. Finally, F M Investments LLC acquired a new position in Kirby during the 2nd quarter worth approximately $14,185,000. 96.15% of the stock is owned by institutional investors.

Insider Transactions at Kirby

In other Kirby news, VP Amy D. Husted sold 2,853 shares of the firm’s stock in a transaction dated Thursday, September 19th. The shares were sold at an average price of $126.54, for a total value of $361,018.62. Following the completion of the sale, the vice president now owns 5,280 shares of the company’s stock, valued at $668,131.20. This trade represents a 35.08 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO David W. Grzebinski sold 26,358 shares of the company’s stock in a transaction dated Monday, September 16th. The stock was 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 in the company, valued at $7,637,043.54. This represents a 29.37 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,596 shares of company stock valued at $7,515,760 over the last 90 days. Company insiders own 1.50% of the company’s stock.

Analyst Upgrades and Downgrades

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

Kirby Stock Performance

Shares of KEX stock opened at $129.39 on Friday. Kirby Co. has a 52 week low of $72.11 and a 52 week high of $132.21. The firm has a market capitalization of $7.43 billion, a price-to-earnings ratio of 24.83, a PEG ratio of 0.76 and a beta of 1.17. The company has a quick ratio of 1.05, a current ratio of 1.67 and a debt-to-equity ratio of 0.29. The stock has a fifty day moving average of $123.28 and a 200 day moving average of $120.20.

Kirby (NYSE:KEX) last posted its earnings results on Wednesday, October 30th. The shipping company reported $1.55 EPS for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08. The business had revenue of $831.10 million during 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%. The company’s quarterly revenue was up 8.7% compared to the same quarter last year. During the same quarter last year, the company earned $1.05 EPS. As a group, research analysts expect that Kirby Co. will post 5.45 earnings per share for the current year.

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.