Kornitzer Capital Management Inc. KS Raises Position in KBR, Inc. (NYSE:KBR)

Kornitzer Capital Management Inc. KS raised its stake in KBR, Inc. (NYSE:KBR - Free Report) by 15.2% in the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 158,925 shares of the construction company's stock after purchasing an additional 20,925 shares during the quarter. Kornitzer Capital Management Inc. KS owned approximately 0.12% of KBR worth $10,351,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently bought and sold shares of the stock. Fifth Third Bancorp boosted its stake in shares of KBR by 17.5% during the 2nd quarter. Fifth Third Bancorp now owns 1,204 shares of the construction company's stock worth $77,000 after acquiring an additional 179 shares during the period. CWM LLC boosted its stake in shares of KBR by 39.4% during the 2nd quarter. CWM LLC now owns 817 shares of the construction company's stock worth $52,000 after acquiring an additional 231 shares during the period. Blue Trust Inc. boosted its stake in shares of KBR by 27.7% during the 2nd quarter. Blue Trust Inc. now owns 1,457 shares of the construction company's stock worth $93,000 after acquiring an additional 316 shares during the period. Janney Montgomery Scott LLC boosted its stake in shares of 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 acquiring an additional 335 shares during the period. Finally, Sequoia Financial Advisors LLC boosted its stake in shares of KBR by 2.6% during the 2nd quarter. Sequoia Financial Advisors LLC now owns 16,865 shares of the construction company's stock worth $1,082,000 after acquiring an additional 422 shares during the period. 97.02% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts recently weighed in on KBR shares. TD Cowen cut KBR from a "buy" rating to a "hold" rating and set a $72.00 price target for the company. in a report on Friday, September 6th. KeyCorp lifted their price target on KBR from $75.00 to $78.00 and gave the stock an "overweight" rating in a report on Thursday. UBS Group lifted their price target on KBR from $77.00 to $78.00 and gave the stock a "buy" rating in a report on Wednesday, October 30th. DA Davidson lifted their price target on KBR from $78.00 to $84.00 and gave the stock a "buy" rating in a report on Friday, October 25th. Finally, Citigroup lifted their price target on KBR from $76.00 to $82.00 and gave the stock a "buy" rating in a report on Tuesday, October 22nd. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Moderate Buy" and an average price target of $81.14.

Insider Activity

In related news, insider Jalal Ibrahim sold 35,000 shares of the company's stock in a transaction that occurred on Monday, August 19th. The stock was sold at an average price of $66.56, for a total transaction of $2,329,600.00. Following the transaction, the insider now directly owns 106,550 shares of the company's stock, valued at approximately $7,091,968. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.08% of the stock is owned by company insiders.

KBR Price Performance

NYSE KBR traded up $0.78 during midday trading on Friday, hitting $71.59. The company had a trading volume of 1,097,934 shares, compared to its average volume of 1,110,313. The company has a market capitalization of $9.54 billion, a PE ratio of 30.08, a P/E/G ratio of 1.34 and a beta of 0.89. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.69. The firm has a 50-day moving average price of $66.37 and a 200-day moving average price of $65.70. KBR, Inc. has a twelve month low of $50.45 and a twelve month high of $71.94.

KBR (NYSE:KBR - Get Free Report) last announced its quarterly earnings data on Wednesday, October 23rd. The construction company reported $0.84 earnings per share for the quarter, meeting the consensus estimate of $0.84. KBR had a return on equity of 28.87% and a net margin of 4.35%. The firm had revenue of $1.95 billion during the quarter, compared to analysts' expectations of $1.95 billion. During the same period in the previous year, the firm earned $0.75 EPS. The company's quarterly revenue was up 10.0% compared to the same quarter last year. As a group, analysts anticipate that KBR, Inc. will post 3.26 earnings per share for the current fiscal year.

KBR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be given a dividend of $0.15 per share. The ex-dividend date is Friday, December 13th. This represents a $0.60 dividend on an annualized basis and a yield of 0.84%. KBR's dividend payout ratio is currently 25.21%.

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.