Connor Clark & Lunn Investment Management Ltd. Makes New $2.80 Million Investment in World Kinect Corporation $WKC

Connor Clark & Lunn Investment Management Ltd. purchased a new stake in World Kinect Corporation (NYSE:WKC) during the second quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 84,943 shares of the company’s stock, valued at approximately $2,798,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the stock. Pacer Advisors Inc. bought a new position in World Kinect in the fourth quarter valued at $9,427,000. Vanguard Group Inc. lifted its position in World Kinect by 0.9% during the 4th quarter. Vanguard Group Inc. now owns 6,713,507 shares of the company’s stock worth $157,297,000 after buying an additional 62,111 shares in the last quarter. UBS Group AG lifted its position in World Kinect by 38.1% during the 4th quarter. UBS Group AG now owns 226,440 shares of the company’s stock worth $5,305,000 after buying an additional 62,492 shares in the last quarter. GSA Capital Partners LLP boosted its stake in shares of World Kinect by 98.6% during the 4th quarter. GSA Capital Partners LLP now owns 96,774 shares of the company’s stock worth $2,267,000 after buying an additional 48,048 shares during the last quarter. Finally, Jefferies Financial Group Inc. acquired a new position in shares of World Kinect during the 4th quarter worth about $413,000. Hedge funds and other institutional investors own 97.06% of the company’s stock.

Analyst Ratings Changes

WKC has been the subject of several recent research reports. Zacks Research raised World Kinect from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, July 22nd. Wall Street Zen raised World Kinect from a “buy” rating to a “strong-buy” rating in a research report on Saturday, August 1st. Morgan Stanley set a $30.00 price objective on World Kinect in a report on Wednesday, July 29th. Finally, Weiss Ratings cut shares of World Kinect from a “hold (c-)” rating to a “sell (d)” rating in a research note on Tuesday, July 28th. One equities research analyst has rated the stock with a Strong Buy rating and two have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, World Kinect currently has an average rating of “Hold” and an average target price of $30.00.

World Kinect Stock Performance

Shares of NYSE WKC opened at $35.61 on Friday. The company has a current ratio of 1.06, a quick ratio of 0.91 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $1.82 billion, a P/E ratio of -11.09, a P/E/G ratio of 0.55 and a beta of 1.17. World Kinect Corporation has a 12 month low of $22.21 and a 12 month high of $41.20. The stock has a 50 day moving average of $35.92 and a 200-day moving average of $29.59.

World Kinect (NYSE:WKC) last posted its quarterly earnings results on Thursday, July 23rd. The company reported $1.29 earnings per share for the quarter, beating analysts’ consensus estimates of $0.75 by $0.54. World Kinect had a positive return on equity of 11.24% and a negative net margin of 0.43%.The business had revenue of $13.59 billion for the quarter, compared to analysts’ expectations of $10.50 billion. During the same quarter in the prior year, the business earned $0.59 EPS. The firm’s revenue for the quarter was up 50.3% on a year-over-year basis. World Kinect has set its FY 2026 guidance at 3.200-3.400 EPS. As a group, equities research analysts predict that World Kinect Corporation will post 3.6 EPS for the current year.

World Kinect Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, July 16th. Stockholders of record on Tuesday, June 30th were given a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, June 30th. This is a boost from World Kinect’s previous quarterly dividend of $0.20. This represents a $0.92 annualized dividend and a dividend yield of 2.6%. World Kinect’s payout ratio is currently -28.66%.

Insider Activity at World Kinect

In other news, Director John L. Manley sold 10,000 shares of the firm’s stock in a transaction dated Wednesday, July 29th. The shares were sold at an average price of $39.88, for a total transaction of $398,800.00. Following the completion of the sale, the director owned 54,116 shares in the company, valued at approximately $2,158,146.08. This trade represents a 15.60% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Paul H. Stebbins sold 33,445 shares of World Kinect stock in a transaction dated Wednesday, July 29th. The stock was sold at an average price of $39.93, for a total transaction of $1,335,458.85. Following the sale, the director directly owned 58,878 shares of the company’s stock, valued at $2,350,998.54. The trade was a 36.23% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 124,445 shares of company stock valued at $4,455,900 over the last three months. Company insiders own 3.80% of the company’s stock.

World Kinect Company Profile

World Kinect Energy Services, Inc (NYSE: WKC) is a global energy services company specializing in fuel procurement, supply chain management and risk mitigation solutions. The company offers an integrated platform that facilitates the sourcing, trading and logistics of refined fuels, natural gas, liquefied natural gas (LNG) and renewable energy products. Its services are designed to help industrial, commercial and institutional clients optimize energy costs, comply with environmental regulations and manage price volatility.

In addition to traditional commodity trading and delivery, World Kinect provides a suite of value-added services that include carbon offset and decarbonization strategies, energy efficiency consulting and emissions reporting.