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 shares of KBR, Inc. (NYSE:KBR - Free Report) by 8.0% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 79,544 shares of the construction company's stock after selling 6,900 shares during the period. Mackenzie Financial Corp owned about 0.06% of KBR worth $3,962,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Zurcher Kantonalbank Zurich Cantonalbank boosted its stake in shares of KBR by 1.0% in the 1st quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 38,957 shares of the construction company's stock valued at $1,940,000 after purchasing an additional 390 shares during the last quarter. HB Wealth Management LLC acquired a new position in KBR in the first quarter valued at $314,000. Cetera Investment Advisers grew its holdings in KBR by 22.1% during the 1st quarter. Cetera Investment Advisers now owns 8,453 shares of the construction company's stock worth $421,000 after acquiring an additional 1,531 shares during the period. Oak Thistle LLC bought a new position in shares of KBR in the 1st quarter worth about $224,000. Finally, Universal Beteiligungs und Servicegesellschaft mbH acquired a new position in shares of KBR in the 1st quarter valued at about $700,000. 97.02% of the stock is currently owned by institutional investors and hedge funds.

KBR Stock Down 0.6%

Shares of NYSE:KBR traded down $0.26 during midday trading on Friday, hitting $46.48. 2,488,669 shares of the company's stock were exchanged, compared to its average volume of 1,515,458. KBR, Inc. has a 12 month low of $43.89 and a 12 month high of $72.60. The company has a market cap of $5.99 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 0.98 and a beta of 0.76. 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 stock has a 50 day moving average price of $49.21 and a 200-day moving average price of $51.18.

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

KBR Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Tuesday, July 15th. Investors of record on Friday, June 13th were issued a dividend of $0.165 per share. The ex-dividend date was Friday, June 13th. This represents a $0.66 annualized dividend and a yield of 1.4%. KBR's payout ratio is 23.91%.

Analysts Set New Price Targets

KBR has been the subject of several recent analyst reports. Stifel Nicolaus raised their target price on KBR from $78.00 to $80.00 and gave the stock a "buy" rating in a research note on Friday. The Goldman Sachs Group downgraded 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. Citigroup lowered their price objective on shares of KBR from $77.00 to $69.00 and set a "buy" rating for the company in a research note on Friday, April 25th. Wall Street Zen lowered shares of KBR from a "strong-buy" rating to a "buy" rating in a research note on Saturday, June 7th. Finally, Truist Financial reduced their price target on shares of KBR from $70.00 to $60.00 and set a "buy" rating for the company in a report on Monday, April 14th. Four research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $63.75.

Insiders Place Their Bets

In other KBR news, CEO Stuart Bradie sold 20,000 shares of the company'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 completion of the sale, the chief executive officer directly owned 802,361 shares of the company's stock, valued at approximately $42,372,684.41. This represents a 2.43% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Company 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.