Victory Capital Management Inc. Purchases 194,410 Shares of Kirby Co. (NYSE:KEX)

Victory Capital Management Inc. grew its position in Kirby Co. (NYSE:KEX) by 68.7% during the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 477,233 shares of the shipping company’s stock after acquiring an additional 194,410 shares during the quarter. Victory Capital Management Inc. owned 0.82% of Kirby worth $58,428,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds have also modified their holdings of the company. Farther Finance Advisors LLC increased its position in Kirby by 420.0% in the third quarter. Farther Finance Advisors LLC now owns 208 shares of the shipping company’s stock worth $25,000 after purchasing an additional 168 shares during the last quarter. International Assets Investment Management LLC bought a new stake in shares of Kirby in the 2nd quarter worth about $26,000. ORG Wealth Partners LLC purchased a new stake in shares of Kirby during the 3rd quarter valued at about $30,000. ORG Partners LLC bought a new position in shares of Kirby in the 2nd quarter valued at about $32,000. Finally, Opal Wealth Advisors LLC purchased a new position in Kirby in the second quarter worth about $33,000. 96.15% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at Kirby

In related news, VP Ronald A. Dragg sold 2,313 shares of the business’s stock in a transaction that occurred on Thursday, November 7th. The stock was sold at an average price of $127.30, for a total value of $294,444.90. Following the completion of the sale, the vice president now owns 7,683 shares in the company, valued at approximately $978,045.90. The trade was a 23.14 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, COO Christian G. O’neil sold 15,041 shares of the firm’s stock in a transaction on Tuesday, November 12th. The stock was sold at an average price of $130.00, for a total value of $1,955,330.00. Following the transaction, the chief operating officer now owns 7,746 shares in the company, valued at $1,006,980. The trade was a 66.01 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders have sold 60,596 shares of company stock worth $7,515,760. Insiders own 1.50% of the company’s stock.

Kirby Stock Up 1.1 %

Shares of NYSE KEX opened at $129.95 on Friday. The company has a market cap of $7.52 billion, a P/E ratio of 24.83, a PEG ratio of 0.77 and a beta of 1.17. The firm has a 50-day simple moving average of $121.93 and a two-hundred day simple moving average of $119.53. Kirby Co. has a 1 year low of $72.11 and a 1 year high of $132.04. The company has a debt-to-equity ratio of 0.32, a current ratio of 1.70 and a quick ratio of 1.05.

Kirby (NYSE:KEX) last issued its quarterly earnings results on Wednesday, October 30th. The shipping company reported $1.55 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.47 by $0.08. Kirby had a return on equity of 9.49% and a net margin of 9.37%. The firm had revenue of $831.10 million during the quarter, compared to analyst estimates of $824.42 million. During the same period last year, the company earned $1.05 EPS. Kirby’s quarterly revenue was up 8.7% compared to the same quarter last year. Research analysts anticipate that Kirby Co. will post 5.44 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of equities research analysts have issued reports on the company. StockNews.com downgraded Kirby from a “buy” rating to a “hold” rating in a research report on Sunday, September 22nd. Bank of America increased their price target on Kirby from $138.00 to $141.00 and gave the company a “buy” rating in a report on Tuesday, July 23rd. One analyst has rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Moderate Buy” and an average target price 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.