Norges Bank Acquires New Shares in KBR, Inc. (NYSE:KBR)

Norges Bank purchased a new stake in KBR, Inc. (NYSE:KBR - Free Report) during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor purchased 1,795,832 shares of the construction company's stock, valued at approximately $104,033,000. Norges Bank owned approximately 1.35% of KBR as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also bought and sold shares of the business. Vanguard Group Inc. boosted its holdings in KBR by 0.5% in the 4th quarter. Vanguard Group Inc. now owns 12,790,454 shares of the construction company's stock valued at $740,951,000 after purchasing an additional 68,588 shares during the period. State Street Corp lifted its position in KBR by 0.7% during the third quarter. State Street Corp now owns 4,016,324 shares of the construction company's stock worth $262,185,000 after purchasing an additional 29,833 shares during the period. Boston Partners grew its stake in KBR by 12,326.4% during the fourth quarter. Boston Partners now owns 3,242,416 shares of the construction company's stock worth $188,098,000 after buying an additional 3,216,323 shares in the last quarter. Bank of New York Mellon Corp increased its holdings in KBR by 87.2% in the 4th quarter. Bank of New York Mellon Corp now owns 2,805,163 shares of the construction company's stock valued at $162,503,000 after buying an additional 1,307,033 shares during the period. Finally, Franklin Resources Inc. lifted its holdings in shares of KBR by 14.5% during the 3rd quarter. Franklin Resources Inc. now owns 2,416,531 shares of the construction company's stock worth $167,876,000 after acquiring an additional 305,889 shares during the period. 97.02% of the stock is owned by institutional investors.

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Insider Activity

In related news, insider Gregory Sean Conlon sold 19,000 shares of the business's stock in a transaction dated Friday, March 14th. The shares were sold at an average price of $50.59, for a total value of $961,210.00. Following the transaction, the insider now directly owns 63,533 shares of the company's stock, valued at approximately $3,214,134.47. The trade was a 23.02 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 1.08% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. Citigroup lowered 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 lowered their price target 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 reduced their price objective on shares of KBR from $72.00 to $64.00 and set a "hold" rating on the stock in a research note on Wednesday, January 8th. Finally, The Goldman Sachs Group lowered their target price on shares of KBR from $75.00 to $64.00 and set a "buy" rating for the company in a research note on Wednesday, February 26th. One equities research analyst has rated the stock with a hold rating and eight have given a buy rating to the company's stock. Based on data from MarketBeat, the stock currently has a consensus rating of "Moderate Buy" and an average target price of $75.88.

KBR Stock Down 7.3 %

KBR stock traded down $3.73 during midday trading on Friday, reaching $47.57. The stock had a trading volume of 2,395,406 shares, compared to its average volume of 1,296,453. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.69. KBR, Inc. has a 12 month low of $47.16 and a 12 month high of $72.60. The company has a fifty day moving average price of $51.51 and a two-hundred day moving average price of $58.77. The company has a market capitalization of $6.17 billion, a P/E ratio of 19.99, a PEG ratio of 0.86 and a beta of 0.73.

KBR (NYSE:KBR - Get Free Report) last posted its earnings results on Monday, February 24th. The construction company reported $0.91 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.08. The company had revenue of $2.12 billion for the quarter, compared to analyst estimates of $2 billion. KBR had a net margin of 4.35% and a return on equity of 28.87%. As a group, equities analysts expect that KBR, Inc. will post 3.26 EPS for the current fiscal year.

KBR Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a dividend of $0.165 per share. The ex-dividend date is Friday, March 14th. This is a boost from KBR's previous quarterly dividend of $0.15. This represents a $0.66 annualized dividend and a yield of 1.39%. KBR's payout ratio is 23.57%.

KBR Company 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.