Teacher Retirement System of Texas Sells 4,693 Shares of KBR, Inc. (NYSE:KBR)

Posted by Defense World Staff on Jun 7th, 2023

Teacher Retirement System of Texas trimmed its holdings in shares of KBR, Inc. (NYSE:KBR – Get Rating) by 12.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 33,603 shares of the construction company’s stock after selling 4,693 shares during the quarter. Teacher Retirement System of Texas’ holdings in KBR were worth $1,774,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Mackenzie Financial Corp lifted its position in shares of KBR by 4.2% during the first quarter. Mackenzie Financial Corp now owns 7,948 shares of the construction company’s stock worth $435,000 after purchasing an additional 322 shares during the last quarter. Exchange Traded Concepts LLC lifted its position in shares of KBR by 2.8% during the fourth quarter. Exchange Traded Concepts LLC now owns 12,159 shares of the construction company’s stock worth $642,000 after purchasing an additional 330 shares during the last quarter. Ronald Blue Trust Inc. raised its holdings in shares of KBR by 25.9% in the fourth quarter. Ronald Blue Trust Inc. now owns 1,932 shares of the construction company’s stock valued at $83,000 after acquiring an additional 398 shares in the last quarter. Quadrant Capital Group LLC raised its holdings in shares of KBR by 113.7% in the fourth quarter. Quadrant Capital Group LLC now owns 750 shares of the construction company’s stock valued at $40,000 after acquiring an additional 399 shares in the last quarter. Finally, Eagle Bay Advisors LLC raised its holdings in shares of KBR by 19.4% in the fourth quarter. Eagle Bay Advisors LLC now owns 2,572 shares of the construction company’s stock valued at $136,000 after acquiring an additional 417 shares in the last quarter.

Wall Street Analyst Weigh In

Several analysts recently weighed in on KBR shares. Cowen lifted their price objective on KBR from $56.00 to $63.00 and gave the company an “outperform” rating in a report on Thursday, February 23rd. Stifel Nicolaus lifted their price objective on KBR from $70.00 to $72.00 in a report on Tuesday, May 30th. StockNews.com started coverage on KBR in a report on Thursday, May 18th. They issued a “buy” rating for the company. DA Davidson lifted their price objective on KBR from $60.00 to $70.00 in a report on Tuesday, February 21st. Finally, Citigroup lifted their price objective on KBR from $60.00 to $67.00 and gave the company a “buy” rating in a report on Friday, February 17th. Six analysts have rated the stock with a buy rating, According to data from MarketBeat.com, the stock has a consensus rating of “Buy” and a consensus target price of $67.14.

Insider Transactions at KBR

In other news, Director Lester L. Lyles sold 17,000 shares of the business’s stock in a transaction dated Thursday, March 9th. The stock was sold at an average price of $54.81, for a total transaction of $931,770.00. Following the sale, the director now owns 60,462 shares in the company, valued at $3,313,922.22. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In related news, CEO Stuart Bradie sold 119,889 shares of the company’s stock in a transaction that occurred on Monday, June 5th. The stock was sold at an average price of $61.21, for a total value of $7,338,405.69. Following the sale, the chief executive officer now owns 669,639 shares in the company, valued at $40,988,603.19. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Director Lester L. Lyles sold 17,000 shares of the company’s stock in a transaction that occurred on Thursday, March 9th. The shares were sold at an average price of $54.81, for a total value of $931,770.00. Following the completion of the sale, the director now owns 60,462 shares in the company, valued at approximately $3,313,922.22. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 140,176 shares of company stock worth $8,465,506. Insiders own 1.03% of the company’s stock.

KBR Price Performance

KBR opened at $61.95 on Wednesday. The business’s 50-day moving average is $57.66 and its two-hundred day moving average is $54.09. KBR, Inc. has a 1 year low of $41.96 and a 1 year high of $62.42. The company has a debt-to-equity ratio of 0.83, a current ratio of 0.99 and a quick ratio of 0.99. The firm has a market capitalization of $8.41 billion, a PE ratio of 27.17, a price-to-earnings-growth ratio of 1.52 and a beta of 1.13.

KBR (NYSE:KBR – Get Rating) last issued its quarterly earnings results on Monday, May 1st. The construction company reported $0.67 earnings per share for the quarter, topping analysts’ consensus estimates of $0.58 by $0.09. KBR had a return on equity of 26.13% and a net margin of 5.30%. The business had revenue of $1.70 billion for the quarter, compared to analyst estimates of $1.61 billion. During the same quarter in the previous year, the firm earned $0.62 earnings per share. The company’s revenue was down .6% on a year-over-year basis. Research analysts anticipate that KBR, Inc. will post 2.89 earnings per share for the current fiscal year.

KBR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Friday, July 14th. Stockholders of record on Thursday, June 15th will be paid a dividend of $0.135 per share. The ex-dividend date of this dividend is Wednesday, June 14th. This represents a $0.54 dividend on an annualized basis and a dividend yield of 0.87%. KBR’s payout ratio is 23.68%.

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.