Zurcher Kantonalbank Zurich Cantonalbank lowered its holdings in KBR, Inc. (NYSE:KBR) by 1.9% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 704,815 shares of the construction company’s stock after selling 13,326 shares during the quarter. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in KBR were worth $14,893,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also added to or reduced their stakes in the business. Pzena Investment Management LLC raised its position in KBR by 1.4% in the 3rd quarter. Pzena Investment Management LLC now owns 3,756,610 shares of the construction company’s stock valued at $79,377,000 after purchasing an additional 51,285 shares during the last quarter. American International Group Inc. raised its position in KBR by 1.3% in the 3rd quarter. American International Group Inc. now owns 377,057 shares of the construction company’s stock valued at $7,967,000 after purchasing an additional 4,741 shares during the last quarter. BlackRock Inc. raised its position in KBR by 0.3% in the 3rd quarter. BlackRock Inc. now owns 15,633,553 shares of the construction company’s stock valued at $330,336,000 after purchasing an additional 49,537 shares during the last quarter. Alliancebernstein L.P. raised its position in KBR by 37.9% in the 3rd quarter. Alliancebernstein L.P. now owns 315,327 shares of the construction company’s stock valued at $6,663,000 after purchasing an additional 86,719 shares during the last quarter. Finally, Commonwealth Bank of Australia bought a new position in KBR in the 3rd quarter valued at $460,000. 97.41% of the stock is currently owned by hedge funds and other institutional investors.
Several equities analysts have issued reports on KBR shares. TheStreet upgraded KBR from a “c+” rating to a “b-” rating in a research report on Thursday, August 2nd. Drexel Hamilton set a $22.00 price objective on KBR and gave the company a “buy” rating in a research report on Tuesday, October 30th. MKM Partners set a $25.00 price objective on KBR and gave the company a “buy” rating in a research report on Tuesday, July 31st. Bank of America lifted their price objective on KBR from $20.00 to $24.00 and gave the company a “buy” rating in a research report on Monday, August 13th. Finally, Credit Suisse Group lifted their price objective on KBR from $24.00 to $25.00 and gave the company a “neutral” rating in a research report on Wednesday, October 31st. Five investment analysts have rated the stock with a hold rating, six have issued a buy rating and one has assigned a strong buy rating to the company’s stock. KBR currently has a consensus rating of “Buy” and an average target price of $23.20.
KBR (NYSE:KBR) last released its earnings results on Tuesday, October 30th. The construction company reported $0.46 EPS for the quarter, beating the Thomson Reuters’ consensus estimate of $0.39 by $0.07. The company had revenue of $1.28 billion during the quarter, compared to analysts’ expectations of $1.32 billion. KBR had a return on equity of 13.40% and a net margin of 11.35%. The business’s revenue for the quarter was up 23.6% on a year-over-year basis. During the same period last year, the firm earned $0.35 EPS. As a group, equities research analysts expect that KBR, Inc. will post 1.51 EPS for the current year.
The company also recently announced a quarterly dividend, which will be paid on Tuesday, January 15th. Stockholders of record on Monday, December 17th will be paid a $0.08 dividend. The ex-dividend date of this dividend is Friday, December 14th. This represents a $0.32 annualized dividend and a dividend yield of 1.79%. KBR’s dividend payout ratio (DPR) is currently 21.48%.
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KBR, Inc provides professional services and technologies across the asset and program life-cycle within the government services and hydrocarbons industries worldwide. The company operates through three segments: Government Services, Technology & Consulting, and Engineering & Construction. The Government Services segment offers life-cycle support solutions to defense, space, aviation, and other programs and missions for government agencies in the United States, the United Kingdom, and Australia.
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