KBR, Inc. (KBR) Stake Raised by Edgestream Partners L.P.
Edgestream Partners L.P. lifted its holdings in shares of KBR, Inc. (NYSE:KBR) by 29.6% during the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 164,648 shares of the construction company’s stock after purchasing an additional 37,653 shares during the period. Edgestream Partners L.P. owned about 0.12% of KBR worth $2,950,000 at the end of the most recent reporting period.
Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Whittier Trust Co. of Nevada Inc. bought a new stake in KBR in the 2nd quarter valued at about $143,000. Migdal Insurance & Financial Holdings Ltd. bought a new stake in KBR in the 2nd quarter valued at about $158,000. First Mercantile Trust Co. raised its stake in KBR by 107.9% in the 1st quarter. First Mercantile Trust Co. now owns 9,183 shares of the construction company’s stock valued at $149,000 after acquiring an additional 4,766 shares during the period. Janney Montgomery Scott LLC bought a new stake in KBR in the 2nd quarter valued at about $179,000. Finally, Verition Fund Management LLC bought a new stake in KBR in the 1st quarter valued at about $192,000. Institutional investors own 95.87% of the company’s stock.
A number of equities research analysts recently issued reports on the company. Bank of America boosted their price objective on KBR from $20.00 to $24.00 and gave the company a “buy” rating in a research note on Monday, August 13th. MKM Partners set a $25.00 price objective on KBR and gave the company a “buy” rating in a research note on Tuesday, July 31st. Zacks Investment Research upgraded KBR from a “hold” rating to a “buy” rating and set a $21.00 price objective on the stock in a research note on Sunday, July 15th. Goldman Sachs Group upgraded KBR from a “sell” rating to a “neutral” rating in a research note on Wednesday, June 13th. Finally, Drexel Hamilton restated a “buy” rating and issued a $22.00 price objective on shares of KBR in a research note on Monday, July 30th. Four research analysts have rated the stock with a hold rating and eight have given a buy rating to the company. KBR has an average rating of “Buy” and an average price target of $22.20.
KBR (NYSE:KBR) last announced its quarterly earnings results on Monday, July 30th. The construction company reported $0.34 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.33 by $0.01. KBR had a return on equity of 14.21% and a net margin of 11.69%. The firm had revenue of $1.27 billion for the quarter, compared to analysts’ expectations of $1.14 billion. During the same period in the prior year, the business posted $0.57 earnings per share. The company’s revenue was up 15.8% on a year-over-year basis. sell-side analysts predict that KBR, Inc. will post 1.45 earnings per share for the current fiscal year.
The business also recently declared a quarterly dividend, which will be paid on Monday, October 15th. Stockholders of record on Monday, September 17th will be given a dividend of $0.08 per share. This represents a $0.32 annualized dividend and a dividend yield of 1.50%. The ex-dividend date is Friday, September 14th. KBR’s dividend payout ratio is presently 21.48%.
KBR, Inc provides professional services and technologies across the asset and program life-cycle within the government services and hydrocarbons industries worldwide. The company operates through three segments: Government Services, Technology & Consulting, and Engineering & Construction. The Government Services segment offers life-cycle support solutions to defense, space, aviation, and other programs and missions for government agencies in the United States, the United Kingdom, and Australia.
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