Teacher Retirement System of Texas Sells 14,378 Shares of KBR, Inc. $KBR

Teacher Retirement System of Texas lessened its stake in KBR, Inc. (NYSE:KBR) by 29.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 34,384 shares of the construction company’s stock after selling 14,378 shares during the period. Teacher Retirement System of Texas’ holdings in KBR were worth $1,626,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently made changes to their positions in KBR. Norges Bank purchased a new position in KBR in the second quarter worth $92,565,000. Boston Partners lifted its stake in KBR by 25.6% during the second quarter. Boston Partners now owns 5,506,603 shares of the construction company’s stock worth $264,474,000 after purchasing an additional 1,122,076 shares during the last quarter. Copeland Capital Management LLC purchased a new position in shares of KBR in the 3rd quarter worth about $33,666,000. Invesco Ltd. increased its position in shares of KBR by 11.0% during the 2nd quarter. Invesco Ltd. now owns 5,465,232 shares of the construction company’s stock valued at $262,003,000 after purchasing an additional 539,565 shares during the last quarter. Finally, Franklin Resources Inc. raised its holdings in shares of KBR by 17.8% during the 2nd quarter. Franklin Resources Inc. now owns 3,419,468 shares of the construction company’s stock valued at $163,929,000 after buying an additional 517,633 shares in the last quarter. Hedge funds and other institutional investors own 97.02% of the company’s stock.

KBR Stock Down 1.0%

Shares of NYSE:KBR opened at $42.81 on Friday. The stock’s 50-day moving average is $42.59 and its 200 day moving average is $45.20. The company has a market cap of $5.44 billion, a PE ratio of 14.71, a P/E/G ratio of 1.07 and a beta of 0.52. The company has a debt-to-equity ratio of 1.74, a current ratio of 1.18 and a quick ratio of 1.18. KBR, Inc. has a 1 year low of $39.52 and a 1 year high of $56.78.

KBR (NYSE:KBR) last issued its quarterly earnings data on Wednesday, October 29th. The construction company reported $1.02 earnings per share for the quarter, topping analysts’ consensus estimates of $0.95 by $0.07. KBR had a return on equity of 35.14% and a net margin of 4.71%.The firm had revenue of $1.93 billion for the quarter, compared to analyst estimates of $1.99 billion. During the same period last year, the company earned $0.84 EPS. The business’s quarterly revenue was down .3% compared to the same quarter last year. Sell-side analysts anticipate that KBR, Inc. will post 3.26 EPS for the current year.

Analysts Set New Price Targets

KBR has been the topic of a number of recent research reports. Truist Financial reduced their price target on shares of KBR from $62.00 to $50.00 and set a “buy” rating on the stock in a research report on Friday, December 19th. Wells Fargo & Company began coverage on shares of KBR in a research note on Thursday, November 13th. They issued an “equal weight” rating and a $45.00 price objective for the company. Bank of America reduced their target price on shares of KBR from $55.00 to $45.00 and set a “neutral” rating on the stock in a report on Thursday, November 13th. Weiss Ratings downgraded shares of KBR from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, January 15th. Finally, Citigroup cut their price target on shares of KBR from $57.00 to $53.00 and set a “buy” rating for the company in a research report on Monday, January 26th. Five investment analysts have rated the stock with a Buy rating, five have issued a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $57.00.

About KBR

KBR, Inc is a global engineering, procurement, construction and services (EPC&S) company headquartered in Houston, Texas. The firm delivers integrated solutions and technologies across the full project lifecycle for customers in the energy, government, industrial and infrastructure sectors. Its offerings span feasibility studies, front-end engineering design, detailed design, procurement, fabrication, construction, commissioning and operations support.

The company is organized into business segments that include Energy Solutions, which focuses on oil and gas processing, liquefied natural gas (LNG) facilities and petrochemical plants; Government Solutions, providing logistics, sustainment, training and mission support for defense, intelligence and civilian agencies; and Sustainable Technology, delivering chemical process technologies, water treatment and lower-carbon fuels expertise.