Jennison Associates LLC Has $100.73 Million Position in Kirby Corporation $KEX

Jennison Associates LLC boosted its position in Kirby Corporation (NYSE:KEX) by 3.3% in the 1st quarter, HoldingsChannel.com reports. The firm owned 758,029 shares of the shipping company’s stock after buying an additional 24,147 shares during the period. Jennison Associates LLC’s holdings in Kirby were worth $100,727,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in KEX. Maseco LLP bought a new position in Kirby during the 4th quarter worth $27,000. Rothschild Investment LLC lifted its holdings in shares of Kirby by 2,600.0% during the fourth quarter. Rothschild Investment LLC now owns 270 shares of the shipping company’s stock worth $30,000 after buying an additional 260 shares in the last quarter. Smartleaf Asset Management LLC boosted its position in shares of Kirby by 537.5% in the fourth quarter. Smartleaf Asset Management LLC now owns 306 shares of the shipping company’s stock valued at $34,000 after acquiring an additional 258 shares during the period. Parallel Advisors LLC boosted its position in shares of Kirby by 50.0% in the fourth quarter. Parallel Advisors LLC now owns 402 shares of the shipping company’s stock valued at $44,000 after acquiring an additional 134 shares during the period. Finally, FNY Investment Advisers LLC acquired a new position in shares of Kirby in the third quarter valued at about $56,000. 96.15% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, VP Amy D. Husted sold 4,000 shares of the business’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $145.43, for a total transaction of $581,720.00. Following the completion of the transaction, the vice president owned 10,814 shares of the company’s stock, valued at approximately $1,572,680.02. The trade was a 27.00% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, VP William Matthew Woodruff sold 678 shares of the company’s stock in a transaction on Friday, May 15th. The stock was sold at an average price of $147.37, for a total value of $99,916.86. Following the sale, the vice president owned 9 shares of the company’s stock, valued at approximately $1,326.33. This represents a 98.69% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. In the last 90 days, insiders sold 17,691 shares of company stock worth $2,579,036. 0.80% of the stock is owned by company insiders.

Kirby Stock Performance

NYSE KEX opened at $143.75 on Monday. The company has a current ratio of 1.59, a quick ratio of 1.01 and a debt-to-equity ratio of 0.29. The firm has a market capitalization of $7.69 billion, a price-to-earnings ratio of 22.12, a P/E/G ratio of 1.27 and a beta of 0.83. The firm’s 50 day simple moving average is $141.30 and its 200 day simple moving average is $134.60. Kirby Corporation has a 1 year low of $79.51 and a 1 year high of $157.69.

Kirby (NYSE:KEX) last announced its quarterly earnings data on Thursday, April 30th. The shipping company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.41 by $0.09. Kirby had a net margin of 10.51% and a return on equity of 10.62%. The business had revenue of $844.10 million for the quarter, compared to analysts’ expectations of $832.57 million. During the same period last year, the firm posted $1.33 earnings per share. The firm’s quarterly revenue was up 7.4% compared to the same quarter last year. Kirby has set its FY 2026 guidance at 6.650-7.280 EPS. As a group, research analysts expect that Kirby Corporation will post 7.06 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

KEX has been the topic of a number of recent research reports. Citigroup raised their price target on shares of Kirby from $160.00 to $165.00 and gave the stock a “buy” rating in a research report on Monday, July 13th. Weiss Ratings raised shares of Kirby from a “hold (c+)” rating to a “buy (b-)” rating in a report on Friday. Wall Street Zen upgraded shares of Kirby from a “hold” rating to a “buy” rating in a research report on Saturday, June 13th. Bank of America raised their target price on shares of Kirby from $169.00 to $182.00 and gave the stock a “buy” rating in a report on Wednesday, July 8th. Finally, BTIG Research reiterated a “buy” rating and issued a $170.00 price target on shares of Kirby in a research report on Tuesday, July 14th. Six research analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company’s stock. According to data from MarketBeat, the company currently has an average rating of “Moderate Buy” and a consensus target price of $162.20.

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.