PNC Financial Services Group Inc. Decreases Stock Position in KBR, Inc. (NYSE:KBR)

PNC Financial Services Group Inc. lowered its position in shares of KBR, Inc. (NYSE:KBR) by 14.4% during the fourth quarter, HoldingsChannel reports. The firm owned 16,154 shares of the construction company’s stock after selling 2,722 shares during the period. PNC Financial Services Group Inc.’s holdings in KBR were worth $936,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in KBR. Janney Montgomery Scott LLC increased its stake in KBR by 2.9% during the 3rd quarter. Janney Montgomery Scott LLC now owns 11,764 shares of the construction company’s stock worth $766,000 after buying an additional 335 shares during the period. GSA Capital Partners LLP purchased a new stake in shares of KBR during the third quarter worth about $771,000. Victory Capital Management Inc. lifted its stake in shares of KBR by 85.1% in the third quarter. Victory Capital Management Inc. now owns 51,109 shares of the construction company’s stock worth $3,329,000 after acquiring an additional 23,491 shares in the last quarter. Natixis Advisors LLC boosted its holdings in KBR by 34.6% in the third quarter. Natixis Advisors LLC now owns 55,584 shares of the construction company’s stock valued at $3,620,000 after purchasing an additional 14,295 shares during the last quarter. Finally, Jennison Associates LLC grew its stake in KBR by 27.8% during the 3rd quarter. Jennison Associates LLC now owns 1,621,740 shares of the construction company’s stock valued at $105,624,000 after purchasing an additional 353,209 shares in the last quarter. 97.02% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several research firms have recently commented on KBR. Citigroup reduced their target price on KBR from $82.00 to $76.00 and set a “buy” rating for the company in a research note on Wednesday, January 29th. KeyCorp decreased their price objective on shares of KBR from $70.00 to $67.00 and set an “overweight” rating for the company in a report on Tuesday, February 25th. TD Cowen dropped their target price on shares of KBR from $72.00 to $64.00 and set a “hold” rating for the company in a research report on Wednesday, January 8th. The Goldman Sachs Group reduced their price target on shares of KBR from $75.00 to $64.00 and set a “buy” rating on the stock in a research report on Wednesday, February 26th. Finally, DA Davidson reissued a “buy” rating and issued a $84.00 price objective on shares of KBR in a report on Tuesday, November 19th. One equities research analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $75.88.

KBR Price Performance

Shares of NYSE:KBR opened at $51.05 on Tuesday. The company has a market cap of $6.76 billion, a PE ratio of 21.45, a P/E/G ratio of 0.86 and a beta of 0.86. KBR, Inc. has a fifty-two week low of $47.16 and a fifty-two week high of $72.60. The firm has a 50-day simple moving average of $53.73 and a 200 day simple moving average of $60.06. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.69.

KBR (NYSE:KBR) last posted its earnings results on Monday, February 24th. The construction company reported $0.91 EPS for the quarter, beating the consensus estimate of $0.83 by $0.08. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2 billion. KBR had a return on equity of 28.87% and a net margin of 4.35%. On average, sell-side analysts anticipate that KBR, Inc. will post 3.26 EPS for the current year.

KBR Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Shareholders of record on Friday, March 14th will be paid a $0.165 dividend. This represents a $0.66 dividend on an annualized basis and a yield of 1.29%. This is a boost from KBR’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, March 14th. KBR’s dividend payout ratio (DPR) is presently 23.57%.

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.