Edgestream Partners L.P. Makes New $5.07 Million Investment in Kirby Co. (NYSE:KEX)

Edgestream Partners L.P. acquired a new position in shares of Kirby Co. (NYSE:KEX) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 41,412 shares of the shipping company’s stock, valued at approximately $5,070,000. Edgestream Partners L.P. owned approximately 0.07% of Kirby as of its most recent SEC filing.

A number of other large investors have also recently bought and sold shares of the company. Encompass Capital Advisors LLC boosted its stake in shares of 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 in the last quarter. Hood River Capital Management LLC boosted its stake in shares of Kirby by 5.7% in the 2nd quarter. Hood River Capital Management LLC now owns 812,283 shares of the shipping company’s stock valued at $97,255,000 after purchasing an additional 43,685 shares in the last quarter. Charles Schwab Investment Management Inc. boosted its stake in shares of Kirby by 27.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 699,052 shares of the shipping company’s stock valued at $85,585,000 after purchasing an additional 152,146 shares in the last quarter. Select Equity Group L.P. acquired a new stake in shares of Kirby in the 2nd quarter valued at approximately $65,928,000. Finally, Millennium Management LLC boosted its stake in shares of Kirby by 13.1% in the 2nd quarter. Millennium Management LLC now owns 533,326 shares of the shipping company’s stock valued at $63,855,000 after purchasing an additional 61,573 shares in the last quarter. 96.15% of the stock is currently owned by institutional investors and hedge funds.

Kirby Stock Up 0.1 %

Shares of NYSE KEX opened at $126.51 on Friday. The company has a 50 day simple moving average of $124.16 and a 200 day simple moving average of $120.88. The firm has a market cap of $7.26 billion, a PE ratio of 24.28, a price-to-earnings-growth ratio of 0.75 and a beta of 1.17. Kirby Co. has a 1 year low of $72.11 and a 1 year high of $132.21. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.67 and a quick ratio of 1.05.

Kirby (NYSE:KEX) last issued its quarterly earnings data on Wednesday, October 30th. The shipping company reported $1.55 earnings per share (EPS) for the quarter, beating 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 net margin of 9.37% and a return on equity of 9.43%. The firm’s quarterly revenue was up 8.7% on a year-over-year basis. During the same quarter last year, the business earned $1.05 EPS. On average, research analysts forecast that Kirby Co. will post 5.45 EPS for the current year.

Insider Activity at Kirby

In other Kirby news, Director Richard Ross Stewart sold 8,000 shares of the firm’s stock in a transaction that occurred on Wednesday, November 20th. The shares were sold at an average price of $128.21, for a total transaction of $1,025,680.00. Following the completion of the transaction, the director now owns 15,488 shares in the company, valued at approximately $1,985,716.48. This trade represents a 34.06 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO David W. Grzebinski sold 26,358 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief executive officer now owns 63,399 shares of the company’s stock, valued at approximately $7,637,043.54. The trade was a 29.37 % decrease in their position. The disclosure for this sale can be found here. Insiders sold a total of 68,596 shares of company stock worth $8,541,440 in the last quarter. 1.50% of the stock is owned by insiders.

Analysts Set New Price Targets

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

Kirby 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.