Utah Retirement Systems grew its position in Kirby Corporation (NYSE:KEX) by 1.0% during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 9,739 shares of the shipping company’s stock after acquiring an additional 100 shares during the quarter. Utah Retirement Systems’ holdings in Kirby Corporation were worth $651,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the company. World Asset Management Inc lifted its position in shares of Kirby Corporation by 0.9% in the first quarter. World Asset Management Inc now owns 3,300 shares of the shipping company’s stock valued at $233,000 after acquiring an additional 28 shares in the last quarter. Envestnet Asset Management Inc. lifted its position in shares of Kirby Corporation by 1.4% in the first quarter. Envestnet Asset Management Inc. now owns 4,701 shares of the shipping company’s stock valued at $330,000 after acquiring an additional 67 shares in the last quarter. CIBC Asset Management Inc lifted its position in shares of Kirby Corporation by 1.7% in the second quarter. CIBC Asset Management Inc now owns 4,903 shares of the shipping company’s stock valued at $328,000 after acquiring an additional 80 shares in the last quarter. Great West Life Assurance Co. Can lifted its position in shares of Kirby Corporation by 0.4% in the second quarter. Great West Life Assurance Co. Can now owns 27,882 shares of the shipping company’s stock valued at $1,862,000 after acquiring an additional 117 shares in the last quarter. Finally, Capstone Asset Management Co. lifted its position in shares of Kirby Corporation by 2.0% in the second quarter. Capstone Asset Management Co. now owns 6,019 shares of the shipping company’s stock valued at $402,000 after acquiring an additional 120 shares in the last quarter.

Several research firms have recently weighed in on KEX. BidaskClub downgraded Kirby Corporation from a “hold” rating to a “sell” rating in a research report on Monday, July 24th. Stifel Nicolaus reduced their price objective on Kirby Corporation from $71.00 to $69.00 and set a “hold” rating on the stock in a research report on Thursday, June 15th. Zacks Investment Research downgraded Kirby Corporation from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, August 1st. Jefferies Group LLC reiterated a “buy” rating and set a $85.00 price objective on shares of Kirby Corporation in a research report on Tuesday, May 30th. Finally, Cowen and Company reiterated a “hold” rating and set a $70.00 price objective on shares of Kirby Corporation in a research report on Friday, July 28th. One equities research analyst has rated the stock with a sell rating, seven have given a hold rating and three have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Hold” and an average target price of $71.25.

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Kirby Corporation (KEX) opened at 64.35 on Thursday. Kirby Corporation has a 12 month low of $55.00 and a 12 month high of $74.50. The stock has a market cap of $3.48 billion, a P/E ratio of 29.49 and a beta of 1.01. The company’s 50-day moving average price is $62.07 and its 200-day moving average price is $66.38.

Kirby Corporation (NYSE:KEX) last issued its earnings results on Wednesday, July 26th. The shipping company reported $0.48 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.47 by $0.01. Kirby Corporation had a net margin of 6.41% and a return on equity of 4.85%. The firm had revenue of $473.33 million for the quarter, compared to analysts’ expectations of $478.85 million. During the same quarter last year, the business earned $0.72 earnings per share. The business’s revenue was up 7.2% on a year-over-year basis. Equities analysts forecast that Kirby Corporation will post $1.95 earnings per share for the current year.

About Kirby Corporation

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 Corporation (NYSE:KEX)

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