Millennium Management LLC Cuts Stock Position in KBR, Inc. $KBR

Key Points

• Millennium Management LLC has reduced its stake in KBR, Inc. by 43.7%, now holding approximately 1.12% of the company, valued at $72.1 million after selling over 1.1 million shares.
• KBR reported a Q2 EPS of $0.91, exceeding the consensus estimate of $0.88, despite revenues coming in lower than expected at $1.95 billion.
• The company announced a quarterly dividend of $0.165 per share, reflecting an annualized yield of 1.3% and a payout ratio of 23.91%.

Millennium Management LLC lowered its holdings in shares of KBR, Inc. (NYSE:KBR - Free Report) by 43.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 1,448,749 shares of the construction company's stock after selling 1,125,705 shares during the period. Millennium Management LLC owned about 1.12% of KBR worth $72,162,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. LRI Investments LLC acquired a new position in KBR during the fourth quarter worth about $31,000. GAMMA Investing LLC raised its position in KBR by 295.5% during the first quarter. GAMMA Investing LLC now owns 795 shares of the construction company's stock worth $40,000 after acquiring an additional 594 shares during the last quarter. Harbor Capital Advisors Inc. acquired a new position in KBR during the first quarter worth about $47,000. UMB Bank n.a. raised its position in KBR by 146.9% during the first quarter. UMB Bank n.a. now owns 1,311 shares of the construction company's stock worth $65,000 after acquiring an additional 780 shares during the last quarter. Finally, Fifth Third Bancorp raised its position in KBR by 25.2% during the first quarter. Fifth Third Bancorp now owns 1,365 shares of the construction company's stock worth $68,000 after acquiring an additional 275 shares during the last quarter. Institutional investors and hedge funds own 97.02% of the company's stock.

Insider Activity at KBR

In other news, CEO Stuart Bradie sold 20,000 shares of the firm's stock in a transaction on Wednesday, June 18th. The shares were 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 approximately $42,372,684.41. This trade represents a 2.43% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 1.11% of the company's stock.

KBR Trading Up 0.2%

KBR stock traded up $0.12 on Friday, hitting $49.60. 252,714 shares of the company were exchanged, compared to its average volume of 1,499,742. KBR, Inc. has a twelve month low of $43.89 and a twelve month high of $72.60. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.13 and a quick ratio of 1.13. The business's fifty day moving average is $48.62 and its two-hundred day moving average is $50.33. The stock has a market capitalization of $6.39 billion, a price-to-earnings ratio of 17.97, a price-to-earnings-growth ratio of 0.99 and a beta of 0.73.

KBR (NYSE:KBR - Get Free Report) last issued its quarterly earnings results on Thursday, July 31st. The construction company reported $0.91 EPS for the quarter, topping the consensus estimate of $0.88 by $0.03. KBR had a net margin of 4.52% and a return on equity of 33.65%. The firm had revenue of $1.95 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the prior year, the business posted $0.83 earnings per share. KBR's revenue for the quarter was up 5.7% compared to the same quarter last year. KBR has set its FY 2025 guidance at 3.780-3.88 EPS. As a group, research analysts forecast that KBR, Inc. will post 3.26 earnings per share for the current year.

KBR Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, October 15th. Stockholders of record on Monday, September 15th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend is Monday, September 15th. KBR's dividend payout ratio (DPR) is currently 23.91%.

Analyst Ratings Changes

KBR has been the subject of a number of analyst reports. DA Davidson cut their price objective on shares of KBR from $72.00 to $65.00 and set a "buy" rating for the company in a research report on Friday, August 1st. Wall Street Zen lowered shares of KBR from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Stifel Nicolaus boosted their price objective on shares of KBR from $78.00 to $80.00 and gave the company a "buy" rating in a research report on Friday, August 1st. The Goldman Sachs Group lowered shares of KBR from a "buy" rating to a "neutral" rating and set a $55.00 price objective for the company. in a research report on Tuesday, May 27th. Finally, UBS Group lowered shares of KBR from a "buy" rating to a "neutral" rating and cut their price objective for the company from $66.00 to $54.00 in a research report on Wednesday, July 2nd. Four analysts have rated the stock with a Buy rating and five have assigned a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $62.78.

KBR 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.