Bank of New York Mellon Corp Lowers Stake in KBR, Inc. (NYSE:KBR)

Bank of New York Mellon Corp trimmed its holdings in KBR, Inc. (NYSE:KBR - Free Report) by 50.1% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 1,400,847 shares of the construction company's stock after selling 1,404,316 shares during the period. Bank of New York Mellon Corp owned about 1.08% of KBR worth $69,776,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also made changes to their positions in the company. LRI Investments LLC purchased a new position in shares of KBR in the fourth quarter valued at about $31,000. GAMMA Investing LLC lifted its position in shares of KBR by 295.5% in the first quarter. GAMMA Investing LLC now owns 795 shares of the construction company's stock worth $40,000 after buying an additional 594 shares in the last quarter. Harbor Capital Advisors Inc. purchased a new stake in shares of KBR in the first quarter worth about $47,000. UMB Bank n.a. lifted its position in shares of KBR by 146.9% in the first quarter. UMB Bank n.a. now owns 1,311 shares of the construction company's stock worth $65,000 after buying an additional 780 shares in the last quarter. Finally, Fifth Third Bancorp lifted its position in shares of KBR by 25.2% in the first quarter. Fifth Third Bancorp now owns 1,365 shares of the construction company's stock worth $68,000 after buying an additional 275 shares in the last quarter. 97.02% of the stock is currently owned by hedge funds and other institutional investors.

KBR Trading Down 1.5%

Shares of KBR traded down $0.70 during mid-day trading on Friday, reaching $46.44. 1,077,795 shares of the company's stock traded hands, compared to its average volume of 1,398,164. The stock has a market cap of $6.03 billion, a P/E ratio of 15.53, a P/E/G ratio of 0.90 and a beta of 0.74. The stock's 50-day moving average is $51.55 and its two-hundred day moving average is $52.47. KBR, Inc. has a 12 month low of $43.89 and a 12 month high of $72.60. The company has a debt-to-equity ratio of 1.89, a current ratio of 1.11 and a quick ratio of 1.11.

KBR (NYSE:KBR - Get Free Report) last released its 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. The firm 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 quarterly revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.77 earnings per share. Research analysts forecast that KBR, Inc. will post 3.26 earnings per share for the current fiscal year.

KBR Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be paid a $0.165 dividend. The ex-dividend date is Friday, June 13th. This represents a $0.66 annualized dividend and a yield of 1.42%. KBR's dividend payout ratio (DPR) is currently 22.07%.

Analysts Set New Price Targets

A number of equities research analysts recently commented on KBR shares. KeyCorp downgraded KBR from an "overweight" rating to a "sector weight" rating in a research report on Monday, June 23rd. Wall Street Zen downgraded KBR from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 7th. UBS Group downgraded KBR from a "buy" rating to a "neutral" rating and decreased their target price for the stock from $66.00 to $54.00 in a research report on Wednesday, July 2nd. Citigroup decreased their target price on KBR from $77.00 to $69.00 and set a "buy" rating on the stock in a research report on Friday, April 25th. Finally, Truist Financial reduced their price objective on KBR from $70.00 to $60.00 and set a "buy" rating on the stock in a research note on Monday, April 14th. Four investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of "Moderate Buy" and a consensus target price of $64.14.

Insider Transactions at KBR

In related news, CEO Stuart Bradie sold 20,000 shares of the stock in a transaction that occurred 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 owned 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 sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. 1.11% of the stock is currently owned by company insiders.

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.