Eastern Bank Acquires New Position in KBR, Inc. (NYSE:KBR)

Eastern Bank acquired a new stake in shares of KBR, Inc. (NYSE:KBR) during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund acquired 1,000 shares of the construction company’s stock, valued at approximately $65,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. Fifth Third Bancorp grew its position in KBR by 17.5% during the second quarter. Fifth Third Bancorp now owns 1,204 shares of the construction company’s stock valued at $77,000 after purchasing an additional 179 shares in the last quarter. CWM LLC grew its position in KBR by 39.4% in the second quarter. CWM LLC now owns 817 shares of the construction company’s stock worth $52,000 after acquiring an additional 231 shares in the last quarter. Blue Trust Inc. grew its position in KBR by 27.7% in the second quarter. Blue Trust Inc. now owns 1,457 shares of the construction company’s stock worth $93,000 after acquiring an additional 316 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in KBR by 2.6% in the second 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 in the last quarter. Finally, Larson Financial Group LLC grew its position in KBR by 2,029.2% in the second quarter. Larson Financial Group LLC now owns 511 shares of the construction company’s stock worth $33,000 after acquiring an additional 487 shares in the last quarter. 97.02% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at KBR

In other news, insider Jalal Ibrahim sold 35,000 shares of the stock in a transaction on Monday, August 19th. The shares were sold at an average price of $66.56, for a total value of $2,329,600.00. Following the completion of the transaction, the insider now owns 106,550 shares in the company, valued at approximately $7,091,968. This represents a 0.00 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 1.08% of the company’s stock.

Analysts Set New Price Targets

Several research firms have commented on KBR. Citigroup boosted their target price on shares of KBR from $76.00 to $82.00 and gave the stock a “buy” rating in a research report on Tuesday. StockNews.com downgraded shares of KBR from a “strong-buy” rating to a “buy” rating in a research report on Sunday, October 6th. DA Davidson boosted their target price on shares of KBR from $78.00 to $84.00 and gave the stock a “buy” rating in a research report on Friday. TD Cowen cut shares of KBR from a “buy” rating to a “hold” rating and set a $72.00 price objective for the company. in a research note on Friday, September 6th. Finally, KeyCorp boosted their price objective on shares of KBR from $73.00 to $75.00 and gave the stock an “overweight” rating in a research note on Tuesday, October 8th. One investment analyst has rated the stock with a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $78.75.

KBR Price Performance

NYSE:KBR opened at $66.73 on Friday. The stock has a market cap of $8.88 billion, a P/E ratio of 45.39, a PEG ratio of 1.45 and a beta of 0.90. KBR, Inc. has a one year low of $49.37 and a one year high of $71.38. The company has a fifty day moving average price of $66.22 and a 200 day moving average price of $65.36. The company has a debt-to-equity ratio of 1.35, a current ratio of 1.10 and a quick ratio of 1.10.

KBR (NYSE:KBR) last released its earnings results on Wednesday, October 23rd. The construction company reported $0.84 EPS for the quarter, meeting the consensus estimate of $0.84. The firm had revenue of $1.95 billion during the quarter, compared to analysts’ expectations of $1.95 billion. KBR had a net margin of 2.77% and a return on equity of 27.92%. The business’s quarterly revenue was up 10.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.75 EPS. Analysts anticipate that KBR, Inc. will post 3.25 earnings per share for the current year.

KBR Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, January 15th. Investors of record on Friday, December 13th will be paid a dividend of $0.15 per share. This represents a $0.60 annualized dividend and a yield of 0.90%. The ex-dividend date is Friday, December 13th. KBR’s payout ratio is currently 40.82%.

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.