Permian Investment Partners LP cut its position in KBR, Inc. (NYSE:KBR) by 43.2% in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 1,971,611 shares of the construction company’s stock after selling 1,502,000 shares during the period. KBR comprises 9.4% of Permian Investment Partners LP’s portfolio, making the stock its 6th largest holding. Permian Investment Partners LP owned approximately 1.39% of KBR worth $75,690,000 at the end of the most recent reporting period.
Several other hedge funds and other institutional investors have also recently made changes to their positions in the company. Suvretta Capital Management LLC lifted its position in KBR by 13.3% during the first quarter. Suvretta Capital Management LLC now owns 3,525,221 shares of the construction company’s stock valued at $135,333,000 after purchasing an additional 414,453 shares during the last quarter. Scopia Capital Management LP lifted its position in KBR by 14.4% during the fourth quarter. Scopia Capital Management LP now owns 2,853,142 shares of the construction company’s stock valued at $88,248,000 after purchasing an additional 358,296 shares during the last quarter. Impactive Capital LP bought a new position in KBR during the fourth quarter valued at $73,894,000. Loomis Sayles & Co. L P lifted its position in KBR by 23.2% during the first quarter. Loomis Sayles & Co. L P now owns 2,371,799 shares of the construction company’s stock valued at $91,054,000 after purchasing an additional 446,866 shares during the last quarter. Finally, Geode Capital Management LLC lifted its position in KBR by 7.8% during the first quarter. Geode Capital Management LLC now owns 2,355,956 shares of the construction company’s stock valued at $90,454,000 after purchasing an additional 169,593 shares during the last quarter. 98.80% of the stock is owned by hedge funds and other institutional investors.
KBR traded down $0.39 on Thursday, reaching $38.88. 9,996 shares of the company traded hands, compared to its average volume of 1,359,153. The company has a current ratio of 1.15, a quick ratio of 1.15 and a debt-to-equity ratio of 0.95. The firm has a market capitalization of $5.50 billion, a P/E ratio of 72.72 and a beta of 1.35. The firm has a fifty day moving average price of $39.44. KBR, Inc. has a one year low of $21.13 and a one year high of $42.71.
The firm also recently announced a quarterly dividend, which was paid on Thursday, July 15th. Shareholders of record on Tuesday, June 15th were given a dividend of $0.11 per share. This represents a $0.44 dividend on an annualized basis and a yield of 1.13%. The ex-dividend date was Monday, June 14th. KBR’s dividend payout ratio (DPR) is 25.43%.
In other KBR news, insider William Byron Jr. Bright sold 5,898 shares of the firm’s stock in a transaction dated Wednesday, May 12th. The shares were sold at an average price of $40.63, for a total transaction of $239,635.74. Following the transaction, the insider now owns 58,796 shares of the company’s stock, valued at approximately $2,388,881.48. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 0.91% of the company’s stock.
Several equities research analysts have recently issued reports on KBR shares. Truist raised their target price on shares of KBR from $40.00 to $44.00 in a report on Friday, March 26th. Citigroup raised their target price on shares of KBR from $38.00 to $45.00 in a report on Wednesday, April 21st. KeyCorp raised their target price on shares of KBR from $36.00 to $45.00 and gave the stock an “overweight” rating in a report on Monday, April 19th. Truist Securities raised their target price on shares of KBR from $40.00 to $44.00 in a report on Friday, March 26th. Finally, DA Davidson raised their target price on shares of KBR from $30.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, March 29th. Two research analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. The company currently has a consensus rating of “Buy” and a consensus target price of $38.55.
KBR Company Profile
KBR, Inc provides scientific, technology, and engineering solutions to governments and commercial customers worldwide. The company operates through three segments: Government Solutions, Technology Solutions, and Energy Solutions. 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.
Further Reading: Dividend Aristocrat Index
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