South Street Advisors LLC Decreases Stock Holdings in KBR, Inc. (NYSE:KBR)

16 Nov 2024, 11:10 by Renee Jackson · The Cerbat Gem

South Street Advisors LLC reduced its holdings in shares of KBR, Inc. (NYSE:KBR – Free Report) by 7.8% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 192,523 shares of the construction company’s stock after selling 16,390 shares during the quarter. KBR accounts for 1.9% of South Street Advisors LLC’s portfolio, making the stock its 23rd largest position. South Street Advisors LLC owned about 0.14% of KBR worth $12,539,000 as of its most recent SEC filing.

Other institutional investors also recently bought and sold shares of the company. State Board of Administration of Florida Retirement System boosted its stake in shares of KBR by 4.5% in the first quarter. State Board of Administration of Florida Retirement System now owns 87,941 shares of the construction company’s stock valued at $5,598,000 after purchasing an additional 3,800 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd. boosted its stake in shares of KBR by 4.2% in the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 17,027 shares of the construction company’s stock valued at $1,084,000 after purchasing an additional 686 shares during the period. Natixis purchased a new position in shares of KBR in the first quarter valued at $7,353,000. MQS Management LLC purchased a new position in shares of KBR in the first quarter valued at $210,000. Finally, Cloverfields Capital Group LP boosted its stake in shares of KBR by 369.3% in the first quarter. Cloverfields Capital Group LP now owns 80,820 shares of the construction company’s stock valued at $5,145,000 after purchasing an additional 63,599 shares during the period. 97.02% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

KBR has been the topic of several recent analyst reports. TD Cowen cut shares of KBR from a “buy” rating to a “hold” rating and set a $72.00 price target on the stock. in a report on Friday, September 6th. Citigroup upped their price target on shares of KBR from $76.00 to $82.00 and gave the company a “buy” rating in a report on Tuesday, October 22nd. DA Davidson upped their price target on shares of KBR from $78.00 to $84.00 and gave the company a “buy” rating in a report on Friday, October 25th. KeyCorp upped their price target on shares of KBR from $75.00 to $78.00 and gave the company an “overweight” rating in a report on Thursday, November 7th. Finally, UBS Group increased their target price on shares of KBR from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, KBR has an average rating of “Moderate Buy” and a consensus price target of $81.14.

Read Our Latest Report on KBR

KBR Stock Performance

Shares of KBR stock traded down $1.51 on Friday, reaching $58.65. The stock had a trading volume of 4,063,207 shares, compared to its average volume of 1,149,900. The business’s 50-day moving average price is $66.43 and its two-hundred day moving average price is $65.80. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.07 and a current ratio of 1.07. KBR, Inc. has a fifty-two week low of $50.45 and a fifty-two week high of $72.60. The stock has a market cap of $7.81 billion, a P/E ratio of 24.64, a price-to-earnings-growth ratio of 1.39 and a beta of 0.89.

KBR (NYSE:KBR – Get Free Report) last issued its quarterly earnings data on Wednesday, October 23rd. The construction company reported $0.84 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.84. KBR had a net margin of 4.35% and a return on equity of 28.87%. The business had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.95 billion. During the same period in the previous year, the company earned $0.75 earnings per share. KBR’s revenue for the quarter was up 10.0% on a year-over-year basis. On average, sell-side analysts forecast that KBR, Inc. will post 3.26 EPS for the current year.

KBR Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be given a dividend of $0.15 per share. This represents a $0.60 dividend on an annualized basis and a yield of 1.02%. The ex-dividend date of this dividend is Friday, December 13th. KBR’s dividend payout ratio (DPR) is currently 25.21%.

Insider Buying and Selling

In other KBR news, insider Jalal Ibrahim sold 35,000 shares of the business’s stock in a transaction on Monday, August 19th. The shares were sold at an average price of $66.56, for a total value of $2,329,600.00. Following the sale, the insider now owns 106,550 shares of the company’s stock, valued at $7,091,968. The trade was a 24.73 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. 1.08% of the stock is currently owned by insiders.

KBR Company Profile

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