Clearline Capital LP Reduces Position in KBR, Inc. (NYSE:KBR)

Clearline Capital LP trimmed its stake in shares of KBR, Inc. (NYSE:KBR - Free Report) by 50.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 106,596 shares of the construction company's stock after selling 106,422 shares during the quarter. Clearline Capital LP owned approximately 0.08% of KBR worth $6,175,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also bought and sold shares of the stock. Tidal Investments LLC purchased a new stake in KBR during the 3rd quarter valued at $200,000. First Hawaiian Bank bought a new stake in shares of KBR in the 4th quarter worth approximately $205,000. Hennessy Advisors Inc. bought a new position in shares of KBR during the fourth quarter valued at approximately $47,022,000. Wedge Capital Management L L P NC lifted its stake in KBR by 2.6% in the fourth quarter. Wedge Capital Management L L P NC now owns 60,314 shares of the construction company's stock worth $3,494,000 after acquiring an additional 1,539 shares during the period. Finally, Diversify Wealth Management LLC lifted its position in shares of KBR by 58.5% in the 4th quarter. Diversify Wealth Management LLC now owns 9,665 shares of the construction company's stock worth $564,000 after purchasing an additional 3,566 shares during the period. 97.02% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, insider Gregory Sean Conlon sold 19,000 shares of KBR stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $50.59, for a total transaction of $961,210.00. Following the transaction, the insider now directly owns 63,533 shares of the company's stock, valued at $3,214,134.47. This trade represents a 23.02 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Insiders own 1.11% of the company's stock.

KBR Price Performance

Shares of NYSE:KBR traded up $0.41 during midday trading on Friday, reaching $55.23. 1,306,784 shares of the company were exchanged, compared to its average volume of 1,320,383. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.69. The stock has a market cap of $7.17 billion, a PE ratio of 23.21, a price-to-earnings-growth ratio of 0.86 and a beta of 0.83. The business's fifty day moving average is $51.03 and its two-hundred day moving average is $55.92. KBR, Inc. has a one year low of $43.89 and a one year high of $72.60.

KBR (NYSE:KBR - Get Free Report) last announced its quarterly earnings results on Tuesday, May 6th. The construction company reported $0.98 EPS for the quarter, beating analysts' consensus estimates of $0.88 by $0.10. KBR had a return on equity of 28.87% and a net margin of 4.35%. The company had revenue of $2.06 billion during the quarter, compared to analyst estimates of $2.09 billion. During the same period in the prior year, the company earned $0.77 earnings per share. The firm's revenue was up 13.0% on a year-over-year basis. As a group, analysts predict that KBR, Inc. will post 3.26 earnings per share for the current year.

KBR Increases Dividend

The company also recently declared a quarterly dividend, which was paid on Tuesday, April 15th. Investors of record on Friday, March 14th were paid a dividend of $0.165 per share. The ex-dividend date was Friday, March 14th. This is a boost from KBR's previous quarterly dividend of $0.15. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.20%. KBR's payout ratio is currently 23.57%.

Analyst Ratings Changes

A number of research analysts recently issued reports on KBR shares. Citigroup lowered their price target on shares of KBR from $77.00 to $69.00 and set a "buy" rating for the company in a research report on Friday, April 25th. The Goldman Sachs Group decreased their target price on shares of KBR from $75.00 to $64.00 and set a "buy" rating for the company in a report on Wednesday, February 26th. Truist Financial cut their target price on KBR from $70.00 to $60.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Finally, KeyCorp raised their price target on shares of KBR from $59.00 to $63.00 and gave the company an "overweight" rating in a report on Wednesday. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of "Moderate Buy" and an average target price of $68.86.

KBR Company Profile

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.