Principal Financial Group Inc. Has $16.41 Million Stock Holdings in Kirby Co. (NYSE:KEX)

Principal Financial Group Inc. lessened its stake in Kirby Co. (NYSE:KEX) by 31.0% during the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 134,022 shares of the shipping company’s stock after selling 60,098 shares during the quarter. Principal Financial Group Inc.’s holdings in Kirby were worth $16,408,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. Asset Management One Co. Ltd. grew its position in Kirby by 7.5% in the third quarter. Asset Management One Co. Ltd. now owns 23,855 shares of the shipping company’s stock worth $2,921,000 after acquiring an additional 1,672 shares in the last quarter. Ground Swell Capital LLC bought a new stake in Kirby in the third quarter worth approximately $217,000. Robeco Institutional Asset Management B.V. bought a new stake in Kirby in the third quarter worth approximately $871,000. Farther Finance Advisors LLC grew 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 acquiring an additional 168 shares in the last quarter. Finally, Americana Partners LLC grew its position in Kirby by 2.1% in the third quarter. Americana Partners LLC now owns 4,900 shares of the shipping company’s stock worth $600,000 after acquiring an additional 100 shares in the last quarter. Institutional investors and hedge funds own 96.15% of the company’s stock.

Wall Street Analyst Weigh In

Several research firms have commented on KEX. StockNews.com downgraded shares of Kirby from a “buy” rating to a “hold” rating in a research report on Sunday, September 22nd. Bank of America boosted their target price on shares of Kirby from $138.00 to $141.00 and gave the stock a “buy” rating in a research report on Tuesday, July 23rd. One investment analyst has rated the stock with a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat, Kirby presently has a consensus rating of “Moderate Buy” and an average price target of $123.80.

Kirby Price Performance

Shares of Kirby stock opened at $128.05 on Friday. The company has a debt-to-equity ratio of 0.29, a current ratio of 1.67 and a quick ratio of 1.05. Kirby Co. has a fifty-two week low of $72.11 and a fifty-two week high of $132.04. The firm has a fifty day moving average price of $122.17 and a two-hundred day moving average price of $119.61. The company has a market cap of $7.35 billion, a PE ratio of 24.58, a price-to-earnings-growth ratio of 0.76 and a beta of 1.17.

Kirby (NYSE:KEX) last issued its quarterly earnings results on Wednesday, October 30th. The shipping company reported $1.55 earnings per share for the quarter, beating analysts’ consensus estimates of $1.47 by $0.08. Kirby had a net margin of 9.37% and a return on equity of 9.43%. The firm had revenue of $831.10 million during the quarter, compared to the consensus estimate of $824.42 million. During the same period in the prior year, the firm earned $1.05 EPS. The business’s revenue was up 8.7% on a year-over-year basis. Analysts expect that Kirby Co. will post 5.44 EPS for the current year.

Insider Buying and Selling at Kirby

In other news, VP Amy D. Husted sold 2,853 shares of the company’s stock in a transaction that occurred on Thursday, September 19th. The stock was sold at an average price of $126.54, for a total value of $361,018.62. Following the sale, the vice president now directly owns 5,280 shares in the company, valued at approximately $668,131.20. This represents a 35.08 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, 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 transaction, the vice president now directly owns 7,683 shares in the company, valued at $978,045.90. The trade was a 23.14 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold a total of 60,596 shares of company stock valued at $7,515,760 in the last ninety days. Company insiders own 1.50% of the company’s stock.

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.