Sumitomo Mitsui Trust Holdings Inc. Sells 1,711,211 Shares of KBR, Inc. (NYSE:KBR)

Sumitomo Mitsui Trust Holdings Inc. reduced its holdings in KBR, Inc. (NYSE:KBR) by 95.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 87,986 shares of the construction company’s stock after selling 1,711,211 shares during the quarter. Sumitomo Mitsui Trust Holdings Inc. owned about 0.07% of KBR worth $4,875,000 at the end of the most recent quarter.

Other hedge funds have also added to or reduced their stakes in the company. Lecap Asset Management Ltd. bought a new stake in shares of KBR during the fourth quarter valued at approximately $729,000. Louisiana State Employees Retirement System bought a new stake in shares of KBR during the fourth quarter valued at approximately $2,100,000. Mutual of America Capital Management LLC increased its holdings in shares of KBR by 1.7% during the fourth quarter. Mutual of America Capital Management LLC now owns 210,105 shares of the construction company’s stock valued at $11,642,000 after acquiring an additional 3,604 shares in the last quarter. Custom Index Systems LLC bought a new stake in shares of KBR during the fourth quarter valued at approximately $275,000. Finally, Sequoia Financial Advisors LLC bought a new stake in shares of KBR during the fourth quarter valued at approximately $886,000. 97.02% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other KBR news, EVP Jennifer Myles sold 8,000 shares of the business’s stock in a transaction on Thursday, February 22nd. The stock was sold at an average price of $58.95, for a total value of $471,600.00. Following the transaction, the executive vice president now owns 38,524 shares of the company’s stock, valued at $2,270,989.80. The transaction was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. Insiders own 1.08% of the company’s stock.

KBR Stock Up 1.7 %

KBR stock opened at $64.20 on Wednesday. The stock’s fifty day simple moving average is $61.18 and its two-hundred day simple moving average is $56.81. The company has a current ratio of 1.05, a quick ratio of 1.05 and a debt-to-equity ratio of 1.29. KBR, Inc. has a 1-year low of $49.37 and a 1-year high of $65.87. The stock has a market cap of $8.64 billion, a P/E ratio of -31.32, a P/E/G ratio of 1.33 and a beta of 0.95.

KBR (NYSE:KBR) last posted its quarterly earnings data on Tuesday, February 20th. The construction company reported $0.69 earnings per share for the quarter, hitting the consensus estimate of $0.69. KBR had a positive return on equity of 25.08% and a negative net margin of 3.81%. The business had revenue of $1.73 billion for the quarter, compared to analysts’ expectations of $1.78 billion. During the same quarter in the previous year, the firm earned $0.69 earnings per share. The business’s revenue was up 7.6% on a year-over-year basis. Analysts expect that KBR, Inc. will post 3.19 EPS for the current year.

KBR Increases Dividend

The firm also recently disclosed a quarterly dividend, which was paid on Monday, April 15th. Shareholders of record on Friday, March 15th were given a $0.15 dividend. The ex-dividend date was Thursday, March 14th. This represents a $0.60 annualized dividend and a yield of 0.93%. This is a boost from KBR’s previous quarterly dividend of $0.14. KBR’s payout ratio is currently -29.27%.

Analyst Ratings Changes

Several research firms have recently commented on KBR. Truist Financial boosted their price objective on KBR from $72.00 to $90.00 and gave the company a “buy” rating in a report on Tuesday, April 9th. UBS Group decreased their price objective on KBR from $65.00 to $63.00 and set a “buy” rating for the company in a report on Friday, February 2nd. KeyCorp upped their price target on KBR from $63.00 to $65.00 and gave the stock an “overweight” rating in a report on Wednesday, February 21st. Citigroup upped their price target on KBR from $66.00 to $72.00 and gave the stock a “buy” rating in a report on Monday. Finally, StockNews.com upgraded KBR from a “hold” rating to a “buy” rating in a report on Wednesday, March 20th. Eight investment analysts have rated the stock with a buy rating, According to MarketBeat, the company presently has a consensus rating of “Buy” and a consensus target price of $73.43.

About KBR

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.