Mackenzie Financial Corp Sells 6,900 Shares of KBR, Inc. (NYSE:KBR)

Key Points

• Mackenzie Financial Corp has reduced its holdings in KBR, Inc. by 8.0%, dropping to approximately 0.06% ownership worth $3,962,000 after selling 6,900 shares during the first quarter.
• CEO Stuart Bradie sold 20,000 shares of KBR stock for over $1 million, resulting in a 2.43% decrease in his ownership of the company's stock.
• KBR recently reported $0.91 EPS for the quarter, beating expectations, but its revenue of $1.95 billion fell short of analyst estimates of $2.10 billion.

Mackenzie Financial Corp cut its holdings in KBR, Inc. (NYSE:KBR - Free Report) by 8.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 79,544 shares of the construction company's stock after selling 6,900 shares during the period. Mackenzie Financial Corp owned 0.06% of KBR worth $3,962,000 as of its most recent SEC filing.

Other large investors also recently added to or reduced their stakes in the company. Balyasny Asset Management L.P. raised its position in shares of KBR by 444.8% during the fourth quarter. Balyasny Asset Management L.P. now owns 1,247,506 shares of the construction company's stock valued at $72,268,000 after buying an additional 1,018,539 shares during the last quarter. Hudson Way Capital Management LLC grew its stake in KBR by 128.3% during the fourth quarter. Hudson Way Capital Management LLC now owns 1,053,710 shares of the construction company's stock valued at $61,041,000 after acquiring an additional 592,063 shares in the last quarter. Charter Oak Advisors LP bought a new stake in KBR in the 4th quarter valued at $26,856,000. J. Goldman & Co LP purchased a new stake in KBR in the 4th quarter worth $26,128,000. Finally, Eisler Capital Management Ltd. bought a new position in shares of KBR during the 4th quarter valued at about $20,162,000. 97.02% of the stock is owned by hedge funds and other institutional investors.

KBR Trading Down 0.3%

Shares of KBR stock traded down $0.17 during trading on Wednesday, hitting $49.49. The stock had a trading volume of 722,415 shares, compared to its average volume of 1,547,490. The stock has a market cap of $6.38 billion, a PE ratio of 17.90, a PEG ratio of 0.96 and a beta of 0.76. KBR, Inc. has a 12 month low of $43.89 and a 12 month high of $72.60. The firm's fifty day simple moving average is $49.09 and its 200-day simple moving average is $51.10. The company has a debt-to-equity ratio of 1.73, a current ratio of 1.13 and a quick ratio of 1.13.

KBR (NYSE:KBR - Get Free Report) last announced its earnings results on Thursday, July 31st. The construction company reported $0.91 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.88 by $0.03. KBR had a return on equity of 33.65% and a net margin of 4.52%. The business had revenue of $1.95 billion during the quarter, compared to analyst estimates of $2.10 billion. During the same quarter in the previous year, the business earned $0.83 earnings per share. The company's revenue for the quarter was up 5.7% compared to the same quarter last year. As a group, sell-side analysts expect that KBR, Inc. will post 3.26 EPS for the current fiscal year.

KBR Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th were paid a dividend of $0.165 per share. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.3%. The ex-dividend date of this dividend was Friday, June 13th. KBR's payout ratio is currently 23.91%.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Citigroup reduced their target price on KBR from $77.00 to $69.00 and set a "buy" rating on the stock in a report on Friday, April 25th. The Goldman Sachs Group downgraded KBR from a "buy" rating to a "neutral" rating and set a $55.00 price objective on the stock. in a research note on Tuesday, May 27th. Wall Street Zen downgraded KBR from a "strong-buy" rating to a "buy" rating in a research report on Saturday, June 7th. UBS Group cut shares of KBR from a "buy" rating to a "neutral" rating and reduced their price target for the stock from $66.00 to $54.00 in a research report on Wednesday, July 2nd. Finally, Stifel Nicolaus increased 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. Four equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $63.75.

Insider Activity

In related news, CEO Stuart Bradie sold 20,000 shares of the firm's stock in a transaction dated 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 $42,372,684.41. This trade represents a 2.43% decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Corporate insiders own 1.11% of the company's stock.

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.