Legal & General Group Plc Buys 4,030 Shares of Kirby Co. (KEX)

Legal & General Group Plc lifted its stake in shares of Kirby Co. (NYSE:KEX) by 5.8% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 73,958 shares of the shipping company’s stock after acquiring an additional 4,030 shares during the quarter. Legal & General Group Plc owned approximately 0.14% of Kirby worth $4,880,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Nomura Holdings Inc. bought a new position in shares of Kirby during the 2nd quarter valued at approximately $344,000. Neuberger Berman Group LLC grew its stake in shares of Kirby by 0.7% during the 2nd quarter. Neuberger Berman Group LLC now owns 1,023,373 shares of the shipping company’s stock valued at $68,412,000 after acquiring an additional 6,643 shares during the period. Virginia Retirement Systems ET AL bought a new position in Kirby in the 2nd quarter worth approximately $1,083,000. Northern Trust Corp boosted its stake in Kirby by 4.8% in the 2nd quarter. Northern Trust Corp now owns 500,297 shares of the shipping company’s stock worth $33,444,000 after purchasing an additional 22,956 shares during the period. Finally, Koch Industries Inc. bought a new position in Kirby in the 2nd quarter worth approximately $216,000. Institutional investors own 96.58% of the company’s stock.

Kirby Co. (KEX) opened at $65.35 on Tuesday. Kirby Co. has a 52 week low of $59.25 and a 52 week high of $74.50. The company has a quick ratio of 1.23, a current ratio of 1.93 and a debt-to-equity ratio of 0.36. The firm has a market capitalization of $3,811.65, a P/E ratio of 30.26, a price-to-earnings-growth ratio of 3.97 and a beta of 1.04.

Kirby (NYSE:KEX) last posted its quarterly earnings results on Wednesday, November 1st. The shipping company reported $0.52 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.44 by $0.08. Kirby had a return on equity of 4.48% and a net margin of 5.88%. The business had revenue of $541.30 million during the quarter, compared to the consensus estimate of $517.54 million. During the same period in the prior year, the company posted $0.59 EPS. The firm’s revenue for the quarter was up 24.5% compared to the same quarter last year. equities analysts anticipate that Kirby Co. will post 2.01 earnings per share for the current fiscal year.

Several research analysts have weighed in on KEX shares. Jefferies Group restated a “buy” rating and issued a $85.00 price target on shares of Kirby in a research note on Monday, October 16th. Stifel Nicolaus restated a “hold” rating and issued a $67.00 price target on shares of Kirby in a research note on Friday, November 3rd. Finally, BidaskClub upgraded Kirby from a “strong sell” rating to a “sell” rating in a research note on Saturday, August 26th. One analyst has rated the stock with a sell rating, five have assigned a hold rating and two have given a buy rating to the stock. Kirby currently has an average rating of “Hold” and a consensus price target of $75.40.

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Kirby Company Profile

Kirby Corporation is a domestic tank barge operator, transporting bulk liquid products throughout the Mississippi River System, on the Gulf Intracoastal Waterway, coastwise along all three United States coasts and in Alaska and Hawaii. The Company, through its subsidiaries, operates in two segments: Marine Transportation and Diesel Engine Services.

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Institutional Ownership by Quarter for Kirby (NYSE:KEX)

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