Corebridge Financial Inc. Has $8.74 Million Stake in KBR, Inc. (NYSE:KBR)

Corebridge Financial Inc. lowered its holdings in KBR, Inc. (NYSE:KBR) by 4.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 150,897 shares of the construction company’s stock after selling 6,576 shares during the period. Corebridge Financial Inc. owned approximately 0.11% of KBR worth $8,741,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Raymond James Trust N.A. increased its holdings in shares of KBR by 23.2% in the 3rd quarter. Raymond James Trust N.A. now owns 5,425 shares of the construction company’s stock valued at $353,000 after purchasing an additional 1,023 shares during the period. Citigroup Inc. increased its holdings in shares of KBR by 38.8% during the 3rd quarter. Citigroup Inc. now owns 74,832 shares of the construction company’s stock valued at $4,874,000 after acquiring an additional 20,931 shares during the last quarter. Cerity Partners LLC boosted its position in KBR by 126.4% during the third quarter. Cerity Partners LLC now owns 8,993 shares of the construction company’s stock worth $586,000 after purchasing an additional 5,020 shares during the period. Daiwa Securities Group Inc. acquired a new position in KBR during the third quarter valued at approximately $111,000. Finally, BNP Paribas Financial Markets raised its position in shares of KBR by 32.3% in the third quarter. BNP Paribas Financial Markets now owns 46,686 shares of the construction company’s stock valued at $3,041,000 after purchasing an additional 11,392 shares during the period. Institutional investors and hedge funds own 97.02% of the company’s stock.

Analysts Set New Price Targets

KBR has been the subject of several recent analyst reports. KeyCorp decreased their target price on KBR from $70.00 to $67.00 and set an “overweight” rating for the company in a research note on Tuesday, February 25th. Citigroup lowered their price target on shares of KBR from $82.00 to $76.00 and set a “buy” rating on the stock in a report on Wednesday, January 29th. The Goldman Sachs Group decreased their price objective on KBR from $75.00 to $64.00 and set a “buy” rating on the stock in a report on Wednesday, February 26th. Finally, TD Cowen lowered their price target on KBR from $72.00 to $64.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. One research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Moderate Buy” and an average target price of $75.88.

KBR Price Performance

Shares of KBR stock opened at $51.14 on Friday. KBR, Inc. has a 52-week low of $47.16 and a 52-week high of $72.60. The company has a debt-to-equity ratio of 1.69, a quick ratio of 1.07 and a current ratio of 1.07. The stock has a market cap of $6.63 billion, a PE ratio of 21.49, a PEG ratio of 0.86 and a beta of 0.86. The firm’s 50 day moving average price is $52.50 and its two-hundred day moving average price is $59.27.

KBR (NYSE:KBR) last released its quarterly earnings data on Monday, February 24th. The construction company reported $0.91 earnings per share for the quarter, topping the consensus estimate of $0.83 by $0.08. KBR had a net margin of 4.35% and a return on equity of 28.87%. The business had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2 billion. As a group, analysts forecast that KBR, Inc. will post 3.26 EPS for the current year.

KBR Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be given a $0.165 dividend. The ex-dividend date is Friday, March 14th. This is a positive change from KBR’s previous quarterly dividend of $0.15. This represents a $0.66 annualized dividend and a dividend yield of 1.29%. KBR’s payout ratio is currently 23.57%.

Insider Transactions at KBR

In other news, insider Gregory Sean Conlon sold 19,000 shares of KBR stock in a transaction that occurred on Friday, March 14th. The shares were sold at an average price of $50.59, for a total value of $961,210.00. Following the sale, the insider now directly owns 63,533 shares in the company, valued at $3,214,134.47. This trade represents a 23.02 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 1.08% of the stock is owned by insiders.

KBR Profile

KBR, Inc provides scientific, technology, and engineering solutions to governments and commercial customers worldwide. It operates through Government Solutions and Sustainable Technology Solutions segments. The Government Solutions segment offers life-cycle support solutions to defense, intelligence, space, aviation, and other programs and missions for military and other government agencies in the United States, the United Kingdom, and Australia.