Peregrine Capital Management LLC Lowers Stake in KBR, Inc. (NYSE:KBR)
Peregrine Capital Management LLC trimmed its stake in KBR, Inc. (NYSE:KBR) by 3.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 718,536 shares of the construction company’s stock after selling 24,105 shares during the quarter. Peregrine Capital Management LLC owned about 0.50% of KBR worth $16,203,000 as of its most recent filing with the SEC.
A number of other institutional investors also recently added to or reduced their stakes in the stock. Advisor Group Inc. lifted its position in shares of KBR by 22.9% during the fourth quarter. Advisor Group Inc. now owns 4,115 shares of the construction company’s stock worth $126,000 after purchasing an additional 766 shares in the last quarter. Nisa Investment Advisors LLC lifted its position in shares of KBR by 1.4% during the first quarter. Nisa Investment Advisors LLC now owns 58,665 shares of the construction company’s stock worth $1,213,000 after purchasing an additional 800 shares in the last quarter. Zurcher Kantonalbank Zurich Cantonalbank lifted its position in shares of KBR by 8.0% during the first quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 11,012 shares of the construction company’s stock worth $228,000 after purchasing an additional 814 shares in the last quarter. State of Alaska Department of Revenue raised its holdings in KBR by 4.9% in the first quarter. State of Alaska Department of Revenue now owns 24,429 shares of the construction company’s stock valued at $505,000 after acquiring an additional 1,137 shares in the last quarter. Finally, Louisiana State Employees Retirement System raised its holdings in KBR by 3.5% in the second quarter. Louisiana State Employees Retirement System now owns 35,500 shares of the construction company’s stock valued at $801,000 after acquiring an additional 1,200 shares in the last quarter. Hedge funds and other institutional investors own 98.38% of the company’s stock.
KBR has been the topic of several recent analyst reports. Goldman Sachs Group raised shares of KBR from a “neutral” rating to a “buy” rating and upped their price target for the company from $24.00 to $31.00 in a report on Wednesday, June 3rd. TheStreet cut shares of KBR from a “b-” rating to a “c” rating in a report on Wednesday, April 29th. CSFB upped their price target on shares of KBR from $30.00 to $31.00 and gave the company an “outperform” rating in a report on Thursday, April 30th. Credit Suisse Group reaffirmed a “buy” rating and issued a $32.00 price target on shares of KBR in a report on Wednesday. Finally, UBS Group raised shares of KBR from a “neutral” rating to a “buy” rating and set a $28.00 price target on the stock in a report on Tuesday, May 26th. One equities research analyst has rated the stock with a sell rating, one has given a hold rating and nine have given a buy rating to the company’s stock. KBR has an average rating of “Buy” and an average target price of $28.60.
KBR (NYSE:KBR) last released its quarterly earnings results on Wednesday, April 29th. The construction company reported $0.39 EPS for the quarter, topping the consensus estimate of $0.37 by $0.02. The business had revenue of $1.54 billion during the quarter, compared to analyst estimates of $1.46 billion. KBR had a net margin of 0.99% and a return on equity of 13.74%. The company’s quarterly revenue was up 14.7% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.36 earnings per share. Sell-side analysts anticipate that KBR, Inc. will post 1.63 EPS for the current fiscal year.
The company also recently declared a quarterly dividend, which was paid on Wednesday, July 15th. Stockholders of record on Monday, June 15th were given a dividend of $0.10 per share. The ex-dividend date of this dividend was Friday, June 12th. This represents a $0.40 annualized dividend and a dividend yield of 1.80%. KBR’s dividend payout ratio is currently 23.67%.
In other news, EVP Ian John Mackey sold 24,636 shares of the company’s stock in a transaction dated Wednesday, June 3rd. The shares were sold at an average price of $25.82, for a total transaction of $636,101.52. Following the completion of the transaction, the executive vice president now owns 91,237 shares in the company, valued at $2,355,739.34. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 0.97% of the stock is currently owned by corporate insiders.
KBR Company Profile
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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