Legal & General Group Plc Takes $5.86 Million Position in Kirby Corporation $KEX

Legal & General Group Plc acquired a new position in Kirby Corporation (NYSE:KEX) in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor acquired 43,097 shares of the shipping company’s stock, valued at approximately $5,860,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. BlackRock Inc. purchased a new position in Kirby in the 2nd quarter worth approximately $733,274,000. Dimensional Fund Advisors LP grew its holdings in Kirby by 5.4% during the 1st quarter. Dimensional Fund Advisors LP now owns 2,617,538 shares of the shipping company’s stock valued at $347,829,000 after buying an additional 133,030 shares in the last quarter. Goldman Sachs Group Inc. raised 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 valued at $287,803,000 after buying an additional 1,251,700 shares during the last quarter. Alliancebernstein L.P. lifted its holdings in shares of Kirby by 72.5% in the second quarter. Alliancebernstein L.P. now owns 2,282,865 shares of the shipping company’s stock worth $258,900,000 after buying an additional 959,209 shares in the last quarter. Finally, First Trust Advisors LP lifted its holdings in shares of Kirby by 109.4% in the fourth quarter. First Trust Advisors LP now owns 2,256,667 shares of the shipping company’s stock worth $248,640,000 after buying an additional 1,178,963 shares in the last quarter. Institutional investors own 96.15% of the company’s stock.

Kirby Price Performance

Kirby stock opened at $143.30 on Friday. Kirby Corporation has a 52-week low of $79.51 and a 52-week high of $157.69. The company has a quick ratio of 1.12, a current ratio of 1.68 and a debt-to-equity ratio of 0.30. The firm’s fifty day moving average is $138.66 and its 200 day moving average is $138.55. The company has a market cap of $7.57 billion, a price-to-earnings ratio of 22.05, a PEG ratio of 1.26 and a beta of 0.86.

Kirby (NYSE:KEX) last issued its quarterly earnings data on Wednesday, July 29th. The shipping company reported $1.67 EPS for the quarter, topping analysts’ consensus estimates of $1.63 by $0.04. The business had revenue of $922.40 million during the quarter, compared to analysts’ expectations of $870.38 million. Kirby had a net margin of 10.18% and a return on equity of 10.44%. The business’s revenue was up 7.8% on a year-over-year basis. During the same period last year, the company posted $1.67 EPS. Kirby has set its FY 2026 guidance at 7.280-7.280 EPS. Sell-side analysts forecast that Kirby Corporation will post 7.11 EPS for the current fiscal year.

Analyst Ratings Changes

A number of brokerages have issued reports on KEX. BTIG Research reiterated a “buy” rating and issued a $170.00 price target on shares of Kirby in a report on Wednesday, July 29th. Weiss Ratings downgraded shares of Kirby from a “buy (b-)” rating to a “hold (c+)” rating in a report on Monday. Wall Street Zen cut Kirby from a “buy” rating to a “hold” rating in a report on Saturday, August 8th. Citigroup lifted their target price on Kirby from $165.00 to $170.00 and gave the stock a “buy” rating in a report on Friday, July 31st. Finally, Bank of America increased their price target on Kirby from $169.00 to $182.00 and gave the company a “buy” rating in a research note on Wednesday, July 8th. Five analysts have rated the stock with a Buy rating and two have assigned a Hold rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus target price of $163.20.

About Kirby

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.