Pier 88 Investment Partners LLC Purchases 10,420 Shares of KBR, Inc. (NYSE:KBR)

Pier 88 Investment Partners LLC boosted its holdings in shares of KBR, Inc. (NYSE:KBR) by 25.9% during the 3rd quarter, Holdings Channel reports. The fund owned 50,710 shares of the construction company’s stock after buying an additional 10,420 shares during the period. KBR comprises about 0.7% of Pier 88 Investment Partners LLC’s portfolio, making the stock its 29th largest position. Pier 88 Investment Partners LLC’s holdings in KBR were worth $3,303,000 at the end of the most recent reporting period.

A number of other institutional investors have also added to or reduced their stakes in KBR. Victory Capital Management Inc. boosted its position in KBR by 85.1% during the 3rd quarter. Victory Capital Management Inc. now owns 51,109 shares of the construction company’s stock valued at $3,329,000 after acquiring an additional 23,491 shares in the last quarter. GSA Capital Partners LLP purchased a new stake in shares of KBR during the third quarter valued at about $771,000. Versor Investments LP bought a new stake in shares of KBR in the 3rd quarter valued at about $1,954,000. TimesSquare Capital Management LLC grew its position in shares of KBR by 60.2% in the 3rd quarter. TimesSquare Capital Management LLC now owns 549,366 shares of the construction company’s stock worth $35,780,000 after buying an additional 206,426 shares during the last quarter. Finally, Portside Wealth Group LLC purchased a new stake in KBR during the third quarter valued at approximately $200,000. Hedge funds and other institutional investors own 97.02% of the company’s stock.

Insider Activity

In other KBR news, insider Jalal Ibrahim sold 35,000 shares of KBR stock in a transaction dated Monday, August 19th. The shares were 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 $7,091,968. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 1.08% of the company’s stock.

KBR Stock Down 2.1 %

KBR opened at $70.00 on Thursday. The company has a quick ratio of 1.07, a current ratio of 1.07 and a debt-to-equity ratio of 1.69. KBR, Inc. has a twelve month low of $50.45 and a twelve month high of $72.60. The company has a market cap of $9.33 billion, a PE ratio of 29.41, a price-to-earnings-growth ratio of 1.42 and a beta of 0.89. The company has a 50-day moving average price of $66.62 and a 200 day moving average price of $65.90.

KBR (NYSE:KBR) last posted its quarterly earnings results on Wednesday, October 23rd. The construction company reported $0.84 earnings per share for the quarter, hitting analysts’ consensus estimates of $0.84. The firm had revenue of $1.95 billion for the quarter, compared to analyst estimates of $1.95 billion. KBR had a net margin of 4.35% and a return on equity of 28.87%. KBR’s quarterly revenue was up 10.0% on a year-over-year basis. During the same period in the previous year, the business posted $0.75 earnings per share. Sell-side analysts expect that KBR, Inc. will post 3.26 earnings per share for the current fiscal year.

KBR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Shareholders of record on Friday, December 13th will be paid a $0.15 dividend. This represents a $0.60 dividend on an annualized basis and a dividend yield of 0.86%. The ex-dividend date of this dividend is Friday, December 13th. KBR’s dividend payout ratio (DPR) is presently 25.21%.

Wall Street Analysts Forecast Growth

KBR has been the topic of a number of research analyst reports. DA Davidson boosted their price target on KBR from $78.00 to $84.00 and gave the stock a “buy” rating in a research note on Friday, October 25th. UBS Group lifted their price target on KBR from $77.00 to $78.00 and gave the stock a “buy” rating in a research report on Wednesday, October 30th. TD Cowen lowered KBR from a “buy” rating to a “hold” rating and set a $72.00 target price on the stock. in a research report on Friday, September 6th. StockNews.com lowered shares of KBR from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 6th. Finally, Citigroup raised their target price on shares of 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 data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $81.14.

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.