Fifth Third Bancorp grew its stake in KBR, Inc. (NYSE:KBR – Free Report) by 25.2% in the first quarter, Holdings Channel.com reports. The firm owned 1,365 shares of the construction company’s stock after acquiring an additional 275 shares during the quarter. Fifth Third Bancorp’s holdings in KBR were worth $68,000 at the end of the most recent reporting period.
A number of other large investors have also made changes to their positions in KBR. Utah Retirement Systems lifted its holdings in KBR by 2.9% in the fourth quarter. Utah Retirement Systems now owns 7,200 shares of the construction company’s stock valued at $417,000 after acquiring an additional 200 shares during the last quarter. Cetera Trust Company N.A lifted its holdings in KBR by 5.6% in the first quarter. Cetera Trust Company N.A now owns 3,767 shares of the construction company’s stock valued at $188,000 after acquiring an additional 200 shares during the last quarter. CIBC Asset Management Inc lifted its holdings in KBR by 5.2% in the fourth quarter. CIBC Asset Management Inc now owns 4,122 shares of the construction company’s stock valued at $239,000 after acquiring an additional 203 shares during the last quarter. Treasurer of the State of North Carolina lifted its holdings in KBR by 0.6% in the fourth quarter. Treasurer of the State of North Carolina now owns 58,515 shares of the construction company’s stock valued at $3,390,000 after acquiring an additional 360 shares during the last quarter. Finally, Guggenheim Capital LLC lifted its holdings in KBR by 4.2% in the fourth quarter. Guggenheim Capital LLC now owns 9,838 shares of the construction company’s stock valued at $570,000 after acquiring an additional 394 shares during the last quarter. 97.02% of the stock is currently owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
A number of research analysts recently commented on KBR shares. Citigroup decreased their price objective on KBR from $77.00 to $69.00 and set a “buy” rating on the stock in a report on Friday, April 25th. The Goldman Sachs Group cut KBR from a “buy” rating to a “neutral” rating and set a $55.00 price target on the stock. in a research note on Tuesday, May 27th. Truist Financial decreased their price target on KBR from $70.00 to $60.00 and set a “buy” rating on the stock in a research note on Monday, April 14th. KeyCorp upped their price target on KBR from $59.00 to $63.00 and gave the stock an “overweight” rating in a research note on Wednesday, May 7th. Finally, Wall Street Zen cut KBR from a “strong-buy” rating to a “buy” rating in a research note on Saturday, June 7th. Two research analysts have rated the stock with a hold rating and six have issued a buy rating to the company’s stock. According to MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus target price of $67.57.
KBR Stock Down 7.2%
Shares of NYSE KBR opened at $48.96 on Friday. The stock has a market cap of $6.35 billion, a P/E ratio of 16.37, a PEG ratio of 1.00 and a beta of 0.77. The company has a current ratio of 1.11, a quick ratio of 1.11 and a debt-to-equity ratio of 1.89. KBR, Inc. has a 12-month low of $43.89 and a 12-month high of $72.60. The business’s fifty day simple moving average is $52.74 and its 200-day simple moving average is $53.58.
KBR (NYSE:KBR – Get Free Report) last announced its quarterly earnings data on Tuesday, May 6th. The construction company reported $0.98 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.10. The business had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.09 billion. KBR had a return on equity of 32.55% and a net margin of 4.99%. The company’s revenue for the quarter was up 13.0% compared to the same quarter last year. During the same period last year, the firm earned $0.77 earnings per share. As a group, equities analysts predict that KBR, Inc. will post 3.26 EPS for the current fiscal year.
KBR Dividend Announcement
The business also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th will be paid a $0.165 dividend. This represents a $0.66 annualized dividend and a dividend yield of 1.35%. The ex-dividend date is Friday, June 13th. KBR’s payout ratio is currently 22.07%.
Insider Activity
In related news, CEO Stuart Bradie sold 20,000 shares of the stock in a transaction on Wednesday, June 18th. The stock was sold at an average price of $52.81, for a total value of $1,056,200.00. Following the transaction, the chief executive officer now owns 802,361 shares of the company’s stock, valued at $42,372,684.41. This represents a 2.43% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Insiders own 1.11% of the company’s stock.
About KBR
KBR, Inc provides scientific, technology, and engineering solutions to governments and commercial customers worldwide. It operates through Government Solutions and Sustainable Technology Solutions segments. The Government Solutions segment offers life-cycle support solutions to defense, intelligence, space, aviation, and other programs and missions for military and other government agencies in the United States, the United Kingdom, and Australia.
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