Norges Bank Acquires Shares of 1,795,832 KBR, Inc. (NYSE:KBR)

Norges Bank bought a new position in KBR, Inc. (NYSE:KBR) during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm bought 1,795,832 shares of the construction company’s stock, valued at approximately $104,033,000. Norges Bank owned about 1.35% of KBR as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in KBR. JPMorgan Chase & Co. grew its holdings in KBR by 18.5% in the 4th quarter. JPMorgan Chase & Co. now owns 555,376 shares of the construction company’s stock worth $32,173,000 after acquiring an additional 86,860 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. grew its stake in shares of KBR by 35.9% in the fourth quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 22,491 shares of the construction company’s stock worth $1,327,000 after purchasing an additional 5,943 shares during the last quarter. Congress Wealth Management LLC DE increased its holdings in KBR by 3.4% during the 4th quarter. Congress Wealth Management LLC DE now owns 41,892 shares of the construction company’s stock valued at $2,427,000 after purchasing an additional 1,378 shares during the period. Vanguard Group Inc. raised its position in KBR by 0.5% during the 4th quarter. Vanguard Group Inc. now owns 12,790,454 shares of the construction company’s stock valued at $740,951,000 after purchasing an additional 68,588 shares during the last quarter. Finally, Stevens Capital Management LP purchased a new stake in KBR in the 4th quarter worth approximately $303,000. 97.02% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at KBR

In related news, insider Gregory Sean Conlon sold 19,000 shares of the business’s 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 completion of the transaction, the insider now directly owns 63,533 shares in the company, valued at $3,214,134.47. The trade was a 23.02 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 1.08% of the company’s stock.

KBR Stock Performance

Shares of KBR opened at $49.94 on Wednesday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.69. The stock has a market cap of $6.48 billion, a P/E ratio of 20.98, a P/E/G ratio of 0.86 and a beta of 0.86. The business’s 50 day moving average price is $51.92 and its 200-day moving average price is $59.00. KBR, Inc. has a 52 week low of $47.16 and a 52 week high of $72.60.

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

KBR Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be issued a $0.165 dividend. The ex-dividend date is Friday, March 14th. This is a boost from KBR’s previous quarterly dividend of $0.15. This represents a $0.66 annualized dividend and a yield of 1.32%. KBR’s payout ratio is 23.57%.

Wall Street Analysts Forecast Growth

A number of analysts recently commented on the company. Citigroup dropped their price target on KBR from $82.00 to $76.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. The Goldman Sachs Group lowered their price objective on shares of KBR from $75.00 to $64.00 and set a “buy” rating for the company in a report on Wednesday, February 26th. TD Cowen reduced their target price on KBR from $72.00 to $64.00 and set a “hold” rating on the stock in a report on Wednesday, January 8th. Finally, KeyCorp lowered 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. One investment analyst has rated the stock with a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, KBR has a consensus rating of “Moderate Buy” and a consensus price target of $75.88.

KBR Company 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.