Bank of New York Mellon Corp Purchases 178,581 Shares of KBR, Inc. $KBR

Bank of New York Mellon Corp raised its position in KBR, Inc. (NYSE:KBR) by 12.7% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 1,579,428 shares of the construction company’s stock after purchasing an additional 178,581 shares during the quarter. Bank of New York Mellon Corp’s holdings in KBR were worth $75,718,000 at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of the company. Voya Investment Management LLC grew its holdings in shares of KBR by 1.2% during the first quarter. Voya Investment Management LLC now owns 20,095 shares of the construction company’s stock worth $1,001,000 after buying an additional 241 shares in the last quarter. Bessemer Group Inc. lifted its stake in KBR by 75.8% in the 2nd quarter. Bessemer Group Inc. now owns 617 shares of the construction company’s stock valued at $30,000 after acquiring an additional 266 shares in the last quarter. US Bancorp DE boosted its position in KBR by 13.5% during the 1st quarter. US Bancorp DE now owns 2,260 shares of the construction company’s stock worth $113,000 after acquiring an additional 268 shares during the last quarter. GAMMA Investing LLC grew its stake in shares of KBR by 37.5% during the 2nd quarter. GAMMA Investing LLC now owns 1,093 shares of the construction company’s stock worth $52,000 after acquiring an additional 298 shares in the last quarter. Finally, Louisiana State Employees Retirement System grew its stake in shares of KBR by 0.8% during the 1st quarter. Louisiana State Employees Retirement System now owns 37,300 shares of the construction company’s stock worth $1,858,000 after acquiring an additional 300 shares in the last quarter. 97.02% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have recently commented on the stock. Bank of America lowered shares of KBR from a “buy” rating to a “neutral” rating and cut their price objective for the stock from $70.00 to $55.00 in a research report on Wednesday, August 13th. Citigroup cut their price target on shares of KBR from $62.00 to $57.00 and set a “buy” rating on the stock in a research report on Monday, November 3rd. DA Davidson decreased their price objective on KBR from $72.00 to $65.00 and set a “buy” rating for the company in a report on Friday, August 1st. Stifel Nicolaus lifted their target price on KBR from $78.00 to $80.00 and gave the company a “buy” rating in a research report on Friday, August 1st. Finally, Weiss Ratings reissued a “hold (c-)” rating on shares of KBR in a research report on Wednesday, October 8th. Four equities research analysts have rated the stock with a Buy rating and six have given a Hold rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and an average target price of $61.67.

KBR Stock Up 2.2%

Shares of KBR stock opened at $42.61 on Friday. KBR, Inc. has a 52-week low of $40.71 and a 52-week high of $72.60. The stock has a market cap of $5.41 billion, a price-to-earnings ratio of 15.44, a PEG ratio of 0.85 and a beta of 0.68. The firm’s 50-day moving average is $46.25 and its 200-day moving average is $49.04. The company has a debt-to-equity ratio of 1.73, a quick ratio of 1.13 and a current ratio of 1.13.

KBR (NYSE:KBR) last posted its quarterly earnings results on Thursday, October 30th. The construction company reported $1.02 EPS for the quarter, topping analysts’ consensus estimates of $0.95 by $0.07. The business had revenue of $1.93 billion during the quarter, compared to analysts’ expectations of $1.99 billion. KBR had a return on equity of 33.65% and a net margin of 4.52%.KBR’s quarterly revenue was down .3% on a year-over-year basis. During the same quarter last year, the company posted $0.84 earnings per share. Sell-side analysts predict that KBR, Inc. will post 3.26 EPS for the current year.

KBR Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Thursday, January 15th. Investors of record on Monday, December 15th will be issued a dividend of $0.165 per share. The ex-dividend date of this dividend is Monday, December 15th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.5%. KBR’s payout ratio is presently 22.68%.

About KBR

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.