Envestnet Asset Management Inc. Buys 31,011 Shares of Kirby Co. (NYSE:KEX)

Envestnet Asset Management Inc. lifted its position in Kirby Co. (NYSE:KEX) by 70.7% during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 74,875 shares of the shipping company’s stock after purchasing an additional 31,011 shares during the quarter. Envestnet Asset Management Inc. owned about 0.13% of Kirby worth $8,965,000 at the end of the most recent reporting period.

A number of other hedge funds also recently made changes to their positions in the company. International Assets Investment Management LLC bought a new position in shares of Kirby during the 2nd quarter valued at approximately $26,000. ORG Partners LLC bought a new stake in Kirby during the second quarter worth approximately $32,000. Opal Wealth Advisors LLC purchased a new stake in Kirby during the second quarter valued at approximately $33,000. Blue Trust Inc. boosted its holdings in shares of Kirby by 91.0% in the 2nd quarter. Blue Trust Inc. now owns 296 shares of the shipping company’s stock worth $35,000 after purchasing an additional 141 shares during the period. Finally, 1832 Asset Management L.P. increased its position in shares of Kirby by 56.1% during the 1st quarter. 1832 Asset Management L.P. now owns 398 shares of the shipping company’s stock valued at $38,000 after purchasing an additional 143 shares during the last quarter. 96.15% of the stock is currently owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, VP Amy D. Husted sold 2,853 shares of the firm’s stock in a transaction on Thursday, September 19th. The stock was sold at an average price of $126.54, for a total value of $361,018.62. Following the completion of the transaction, the vice president now owns 5,280 shares in the company, valued at approximately $668,131.20. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO David W. Grzebinski sold 26,358 shares of the firm’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 sale, the chief executive officer now directly owns 63,399 shares of the company’s stock, valued at $7,637,043.54. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, VP Amy D. Husted sold 2,853 shares of Kirby stock in a transaction that occurred on Thursday, September 19th. The shares were sold at an average price of $126.54, for a total value of $361,018.62. Following the transaction, the vice president now owns 5,280 shares of the company’s stock, valued at $668,131.20. The disclosure for this sale can be found here. In the last quarter, insiders have sold 46,012 shares of company stock valued at $5,571,267. Insiders own 1.50% of the company’s stock.

Kirby Trading Up 2.0 %

Shares of NYSE:KEX opened at $125.33 on Friday. The company has a market capitalization of $7.33 billion, a PE ratio of 29.63, a P/E/G ratio of 0.77 and a beta of 1.17. The company has a current ratio of 1.70, a quick ratio of 1.05 and a debt-to-equity ratio of 0.32. Kirby Co. has a 12-month low of $72.11 and a 12-month high of $130.90. The business’s fifty day simple moving average is $118.43 and its 200-day simple moving average is $113.00.

Kirby (NYSE:KEX) last announced its earnings results on Thursday, August 1st. The shipping company reported $1.43 EPS for the quarter, topping analysts’ consensus estimates of $1.32 by $0.11. Kirby had a net margin of 8.72% and a return on equity of 8.70%. The business had revenue of $824.40 million during the quarter, compared to the consensus estimate of $821.65 million. During the same period in the previous year, the company posted $0.95 earnings per share. The firm’s revenue was up 6.1% on a year-over-year basis. As a group, equities research analysts predict that Kirby Co. will post 5.46 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several brokerages have recently weighed in on KEX. StockNews.com downgraded shares of Kirby from a “buy” rating to a “hold” rating in a research note on Sunday, September 22nd. Bank of America upped their price target on shares of Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. One research analyst has rated the stock with a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat, Kirby currently has a consensus rating of “Moderate Buy” and an average price target of $123.80.

Kirby Company Profile

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.