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

PNC Financial Services Group Inc. reduced its stake in shares of KBR, Inc. (NYSE:KBR) by 3.0% during the 1st quarter, Holdings Channel.com reports. The firm owned 15,673 shares of the construction company’s stock after selling 481 shares during the period. PNC Financial Services Group Inc.’s holdings in KBR were worth $781,000 at the end of the most recent reporting period.

Other institutional investors also recently made changes to their positions in the company. GAMMA Investing LLC boosted its position in shares of KBR by 295.5% during the 1st quarter. GAMMA Investing LLC now owns 795 shares of the construction company’s stock worth $40,000 after purchasing an additional 594 shares in the last quarter. Principal Financial Group Inc. boosted its position in shares of KBR by 0.4% in the 1st quarter. Principal Financial Group Inc. now owns 307,121 shares of the construction company’s stock worth $15,298,000 after buying an additional 1,343 shares in the last quarter. Cerity Partners LLC boosted its position in shares of KBR by 697.0% in the 1st quarter. Cerity Partners LLC now owns 27,314 shares of the construction company’s stock worth $1,361,000 after buying an additional 23,887 shares in the last quarter. KBC Group NV boosted its position in shares of KBR by 4.8% in the 1st quarter. KBC Group NV now owns 5,703 shares of the construction company’s stock worth $284,000 after buying an additional 260 shares in the last quarter. Finally, Wealth Enhancement Advisory Services LLC boosted its position in shares of KBR by 26.5% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 5,776 shares of the construction company’s stock worth $335,000 after buying an additional 1,210 shares in the last quarter. 97.02% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at KBR

In other news, CEO Stuart Bradie sold 20,000 shares of the company’s stock in a transaction dated Wednesday, June 18th. The shares were sold at an average price of $52.81, for a total transaction of $1,056,200.00. Following the completion of the transaction, the chief executive officer owned 802,361 shares of the company’s stock, valued at $42,372,684.41. This represents a 2.43% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 1.11% of the stock is currently owned by corporate insiders.

KBR Trading Down 1.0%

Shares of KBR stock opened at $49.38 on Tuesday. The firm has a 50-day moving average price of $48.94 and a 200 day moving average price of $50.79. KBR, Inc. has a twelve month low of $43.89 and a twelve month high of $72.60. The company has a market capitalization of $6.36 billion, a price-to-earnings ratio of 17.89, a PEG ratio of 1.00 and a beta of 0.76. The company has a current ratio of 1.13, a quick ratio of 1.13 and a debt-to-equity ratio of 1.73.

KBR (NYSE:KBR) last announced its earnings results on Thursday, July 31st. The construction company reported $0.91 earnings per share for the quarter, beating the consensus estimate of $0.88 by $0.03. KBR had a net margin of 4.52% and a return on equity of 33.65%. The firm had revenue of $1.95 billion during the quarter, compared to the consensus estimate of $2.10 billion. During the same quarter in the previous year, the company posted $0.83 EPS. The firm’s revenue for the quarter was up 5.7% on a year-over-year basis. Research analysts forecast that KBR, Inc. will post 3.26 earnings per share for the current fiscal year.

KBR Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Tuesday, July 15th. Stockholders of record on Friday, June 13th were paid a dividend of $0.165 per share. The ex-dividend date of this dividend was Friday, June 13th. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.3%. KBR’s dividend payout ratio is currently 23.91%.

Analysts Set New Price Targets

Several research firms recently commented on KBR. The Goldman Sachs Group lowered shares of KBR from a “buy” rating to a “neutral” rating and set a $55.00 price objective on the stock. in a research report on Tuesday, May 27th. Wall Street Zen lowered shares of KBR from a “buy” rating to a “hold” rating in a research report on Saturday. Stifel Nicolaus boosted their price objective on shares of KBR from $78.00 to $80.00 and gave the stock a “buy” rating in a research report on Friday, August 1st. UBS Group downgraded shares of KBR from a “buy” rating to a “neutral” rating and cut their target price for the company from $66.00 to $54.00 in a research note on Wednesday, July 2nd. Finally, KeyCorp downgraded shares of KBR from an “overweight” rating to a “sector weight” rating in a research note on Monday, June 23rd. Five investment analysts have rated the stock with a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average target price of $63.75.

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.