KBR, Inc. (KBR) Stake Lessened by Prudential Financial Inc.
Prudential Financial Inc. reduced its stake in shares of KBR, Inc. (NYSE:KBR) by 80.2% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 121,062 shares of the construction company’s stock after selling 490,660 shares during the quarter. Prudential Financial Inc. owned approximately 0.09% of KBR worth $2,165,000 at the end of the most recent quarter.
Other institutional investors and hedge funds also recently modified their holdings of the company. American Century Companies Inc. bought a new stake in shares of KBR in the third quarter valued at about $7,472,000. Stevens Capital Management LP bought a new stake in shares of KBR in the third quarter valued at about $1,904,000. Frontier Capital Management Co. LLC raised its holdings in shares of KBR by 85.6% in the third quarter. Frontier Capital Management Co. LLC now owns 808,136 shares of the construction company’s stock valued at $14,449,000 after acquiring an additional 372,656 shares in the last quarter. NJ State Employees Deferred Compensation Plan raised its holdings in shares of KBR by 33.3% in the third quarter. NJ State Employees Deferred Compensation Plan now owns 40,000 shares of the construction company’s stock valued at $715,000 after acquiring an additional 10,000 shares in the last quarter. Finally, E&G Advisors LP raised its holdings in shares of KBR by 48.0% in the third quarter. E&G Advisors LP now owns 18,500 shares of the construction company’s stock valued at $331,000 after acquiring an additional 6,000 shares in the last quarter. 99.74% of the stock is owned by hedge funds and other institutional investors.
A number of brokerages have commented on KBR. Deutsche Bank boosted their target price on shares of KBR from $18.00 to $20.00 and gave the stock a “buy” rating in a report on Tuesday, October 24th. ValuEngine upgraded shares of KBR from a “hold” rating to a “buy” rating in a report on Friday, December 1st. DA Davidson downgraded shares of KBR from a “buy” rating to a “neutral” rating and set a $22.00 target price for the company. in a report on Wednesday, November 1st. Zacks Investment Research upgraded shares of KBR from a “hold” rating to a “strong-buy” rating and set a $22.00 target price for the company in a report on Wednesday, October 25th. Finally, KeyCorp reiterated a “buy” rating and issued a $20.00 target price on shares of KBR in a report on Friday, October 6th. One investment analyst has rated the stock with a sell rating, two have assigned a hold rating, six have issued a buy rating and one has issued a strong buy rating to the stock. KBR presently has an average rating of “Buy” and a consensus target price of $21.00.
KBR (NYSE:KBR) last announced its earnings results on Tuesday, October 31st. The construction company reported $0.35 EPS for the quarter, topping the Zacks’ consensus estimate of $0.30 by $0.05. KBR had a net margin of 1.63% and a return on equity of 10.22%. The business had revenue of $1.03 billion during the quarter, compared to the consensus estimate of $1.05 billion. During the same period in the previous year, the company posted ($0.44) earnings per share. The firm’s revenue was down 3.6% on a year-over-year basis. equities research analysts predict that KBR, Inc. will post 1.47 EPS for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Monday, January 15th. Stockholders of record on Friday, December 15th will be paid a dividend of $0.08 per share. The ex-dividend date is Thursday, December 14th. This represents a $0.32 dividend on an annualized basis and a dividend yield of 1.71%. KBR’s payout ratio is 62.75%.
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KBR, Inc is a provider of professional services and technologies across the asset and program life-cycle within the government services and hydrocarbons industries. The Company operates through business segments, including Technology & Consulting (T&C), Engineering & Construction (E&C), Government Services (GS), Non-strategic Business and Other.
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