KBR, Inc. (NYSE:KBR) Shares Sold by New York State Teachers Retirement System

Posted by Defense World Staff on Apr 15th, 2023

New York State Teachers Retirement System lessened its holdings in KBR, Inc. (NYSE:KBR – Get Rating) by 0.9% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 190,841 shares of the construction company’s stock after selling 1,800 shares during the quarter. New York State Teachers Retirement System owned approximately 0.14% of KBR worth $10,076,000 at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Fred Alger Management LLC acquired a new position in KBR in the third quarter worth $36,000. Atlas Capital Advisors LLC acquired a new position in shares of KBR during the second quarter valued at $53,000. Ronald Blue Trust Inc. boosted its holdings in shares of KBR by 394.8% during the third quarter. Ronald Blue Trust Inc. now owns 1,534 shares of the construction company’s stock valued at $74,000 after acquiring an additional 1,224 shares during the period. Wipfli Financial Advisors LLC acquired a new position in shares of KBR during the third quarter valued at $78,000. Finally, IFP Advisors Inc boosted its holdings in shares of KBR by 21.5% during the third quarter. IFP Advisors Inc now owns 5,354 shares of the construction company’s stock valued at $103,000 after acquiring an additional 949 shares during the period.

KBR Stock Performance

Shares of KBR opened at $56.44 on Friday. The firm has a 50-day moving average price of $53.96 and a 200 day moving average price of $51.22. The firm has a market capitalization of $7.70 billion, a PE ratio of 46.64, a P/E/G ratio of 1.42 and a beta of 1.14. The company has a quick ratio of 0.96, a current ratio of 0.96 and a debt-to-equity ratio of 0.84. KBR, Inc. has a 52-week low of $41.96 and a 52-week high of $58.00.

KBR (NYSE:KBR – Get Rating) last issued its quarterly earnings results on Thursday, February 16th. The construction company reported $0.69 earnings per share for the quarter, beating analysts’ consensus estimates of $0.58 by $0.11. KBR had a net margin of 2.89% and a return on equity of 25.46%. The company had revenue of $1.61 billion during the quarter, compared to the consensus estimate of $1.64 billion. During the same period in the prior year, the company earned $0.69 EPS. KBR’s revenue was down 35.7% on a year-over-year basis. On average, sell-side analysts anticipate that KBR, Inc. will post 2.86 earnings per share for the current fiscal year.

KBR Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Friday, April 14th. Shareholders of record on Wednesday, March 15th were issued a $0.135 dividend. This represents a $0.54 dividend on an annualized basis and a yield of 0.96%. This is an increase from KBR’s previous quarterly dividend of $0.12. The ex-dividend date was Tuesday, March 14th. KBR’s dividend payout ratio is presently 44.63%.

Insider Buying and Selling at KBR

In other KBR news, EVP Jennifer Myles sold 4,714 shares of the company’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $54.49, for a total value of $256,865.86. Following the completion of the sale, the executive vice president now directly owns 69,902 shares of the company’s stock, valued at approximately $3,808,959.98. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. In other KBR news, Director Lester L. Lyles sold 17,000 shares of the company’s stock in a transaction dated Thursday, March 9th. The shares were sold at an average price of $54.81, for a total transaction of $931,770.00. Following the completion of the sale, the director now directly owns 60,462 shares of the company’s stock, valued at $3,313,922.22. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, EVP Jennifer Myles sold 4,714 shares of the company’s stock in a transaction dated Tuesday, February 21st. The shares were sold at an average price of $54.49, for a total transaction of $256,865.86. Following the sale, the executive vice president now directly owns 69,902 shares of the company’s stock, valued at $3,808,959.98. The disclosure for this sale can be found here. 0.91% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several equities analysts have recently issued reports on KBR shares. Citigroup boosted their price target on shares of KBR from $60.00 to $67.00 and gave the company a “buy” rating in a report on Friday, February 17th. Cowen boosted their price target on shares of KBR from $56.00 to $63.00 and gave the company an “outperform” rating in a report on Thursday, February 23rd. Truist Financial boosted their price target on shares of KBR from $64.00 to $68.00 and gave the company a “buy” rating in a report on Wednesday, December 21st. DA Davidson increased their target price on shares of KBR from $60.00 to $70.00 in a research report on Tuesday, February 21st. Finally, StockNews.com assumed coverage on shares of KBR in a research report on Thursday, March 16th. They issued a “buy” rating for the company. Six research analysts have rated the stock with a buy rating, Based on data from MarketBeat, the stock has an average rating of “Buy” and an average target price of $66.33.

About KBR

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KBR, Inc engages in the provision of differentiated professional services and technologies across the asset and program life-cycle within the government services and hydrocarbons industries. It operates through the following segments: Government Solutions, Technology Solutions, Energy Solutions, Non-strategic Business, and Other.