Primecap Management Co. CA Takes Position in Kirby Corporation $KEX

Primecap Management Co. CA purchased a new position in shares of Kirby Corporation (NYSE:KEX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor purchased 253,353 shares of the shipping company’s stock, valued at approximately $34,448,000.

Several other hedge funds have also made changes to their positions in KEX. BlackRock Inc. bought a new position in Kirby during the 2nd quarter worth $733,274,000. Dimensional Fund Advisors LP boosted its holdings in shares of Kirby by 5.4% during the first quarter. Dimensional Fund Advisors LP now owns 2,617,538 shares of the shipping company’s stock valued at $347,829,000 after acquiring an additional 133,030 shares during the period. Goldman Sachs Group Inc. grew its position in shares of Kirby by 92.0% during the fourth quarter. Goldman Sachs Group Inc. now owns 2,612,119 shares of the shipping company’s stock worth $287,803,000 after acquiring an additional 1,251,700 shares during the last quarter. Alliancebernstein L.P. increased its holdings in shares of Kirby by 72.5% in the 2nd quarter. Alliancebernstein L.P. now owns 2,282,865 shares of the shipping company’s stock worth $258,900,000 after acquiring an additional 959,209 shares during the period. Finally, First Trust Advisors LP increased its holdings in shares of Kirby by 109.4% in the 4th quarter. First Trust Advisors LP now owns 2,256,667 shares of the shipping company’s stock worth $248,640,000 after acquiring an additional 1,178,963 shares during the period. Institutional investors own 96.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research analysts have commented on KEX shares. BTIG Research restated a “buy” rating and issued a $170.00 target price on shares of Kirby in a research report on Wednesday, July 29th. Citigroup lifted their price target on Kirby from $165.00 to $170.00 and gave the company a “buy” rating in a report on Friday, July 31st. Weiss Ratings upgraded Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Monday, August 17th. Bank of America increased their price objective on Kirby from $169.00 to $182.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Finally, Wall Street Zen cut Kirby from a “buy” rating to a “hold” rating in a research report on Saturday, August 8th. Six analysts have rated the stock with a Buy rating and one has assigned a Hold rating to the company’s stock. According to data from MarketBeat, Kirby has an average rating of “Moderate Buy” and a consensus price target of $163.20.

Kirby Stock Up 1.2%

Shares of KEX stock opened at $139.26 on Thursday. Kirby Corporation has a 1 year low of $79.51 and a 1 year high of $157.69. The company has a debt-to-equity ratio of 0.30, a quick ratio of 1.12 and a current ratio of 1.68. The business’s fifty day moving average is $138.44 and its 200-day moving average is $137.75. The stock has a market cap of $7.35 billion, a PE ratio of 21.42, a price-to-earnings-growth ratio of 1.24 and a beta of 0.84.

Kirby (NYSE:KEX) last announced its quarterly earnings data on Wednesday, July 29th. The shipping company reported $1.67 earnings per share for the quarter, beating the consensus estimate of $1.63 by $0.04. Kirby had a return on equity of 10.44% and a net margin of 10.18%.The business had revenue of $922.40 million during the quarter, compared to analyst estimates of $870.38 million. During the same quarter in the prior year, the firm posted $1.67 earnings per share. The company’s revenue was up 7.8% on a year-over-year basis. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. Equities analysts expect that Kirby Corporation will post 7.07 earnings per share for the current fiscal year.

Kirby Profile

Kirby Corporation is a leading domestic maritime transporter of bulk liquid products in the United States. Through its Marine Transportation segment, the company operates one of North America’s largest fleets of inland tank barges and towing vessels. Kirby’s fleet moves petrochemicals, black oil, refined petroleum products and agricultural chemicals along coastal and inland waterways, providing critical logistical support to energy, chemical and agricultural producers.

In addition to its marine operations, Kirby’s Distribution and Services segment offers diesel engine and power generation services, along with aftermarket parts sales.