KBR (NYSE:KBR) Downgraded by The Goldman Sachs Group to Neutral

The Goldman Sachs Group cut shares of KBR (NYSE:KBR) from a buy rating to a neutral rating in a research note released on Tuesday morning, Marketbeat reports. The brokerage currently has $55.00 price objective on the construction company’s stock.

A number of other equities analysts have also recently issued reports on KBR. Truist Financial cut their price objective on shares of KBR from $70.00 to $60.00 and set a “buy” rating on the stock in a research report on Monday, April 14th. Citigroup cut their price objective on shares of KBR from $77.00 to $69.00 and set a “buy” rating on the stock in a research report on Friday, April 25th. Finally, KeyCorp increased their price objective on shares of KBR from $59.00 to $63.00 and gave the stock an “overweight” rating in a research report on Wednesday, May 7th. Two investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, KBR presently has a consensus rating of “Moderate Buy” and an average target price of $67.57.

KBR Stock Performance

Shares of KBR opened at $51.41 on Tuesday. The company has a current ratio of 1.07, a quick ratio of 1.07 and a debt-to-equity ratio of 1.69. The stock has a market capitalization of $6.67 billion, a P/E ratio of 21.60, a price-to-earnings-growth ratio of 0.86 and a beta of 0.83. The firm’s fifty day simple moving average is $51.88 and its two-hundred day simple moving average is $54.58. KBR has a 12 month low of $43.89 and a 12 month high of $72.60.

KBR (NYSE:KBR) last released its quarterly earnings data on Tuesday, May 6th. The construction company reported $0.98 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.88 by $0.10. The company had revenue of $2.06 billion for the quarter, compared to analysts’ expectations of $2.09 billion. KBR had a net margin of 4.35% and a return on equity of 28.87%. The business’s revenue was up 13.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.77 EPS. As a group, analysts predict that KBR will post 3.26 EPS for the current year.

KBR Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, July 15th. Investors of record on Friday, June 13th will be given a $0.165 dividend. The ex-dividend date of this dividend is Friday, June 13th. This represents a $0.66 annualized dividend and a yield of 1.28%. KBR’s payout ratio is 22.07%.

Insider Activity at KBR

In related news, insider Gregory Sean Conlon sold 19,000 shares of the firm’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 owns 63,533 shares of the company’s stock, valued at approximately $3,214,134.47. This trade represents a 23.02% decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 1.11% of the stock is owned by insiders.

Hedge Funds Weigh In On KBR

Several large investors have recently added to or reduced their stakes in the business. Boston Partners increased its stake in KBR by 12,326.4% in the 4th quarter. Boston Partners now owns 3,242,416 shares of the construction company’s stock valued at $188,098,000 after buying an additional 3,216,323 shares during the last quarter. Norges Bank bought a new position in shares of KBR during the 4th quarter worth approximately $104,033,000. Bank of New York Mellon Corp lifted its position in shares of KBR by 87.2% during the 4th quarter. Bank of New York Mellon Corp now owns 2,805,163 shares of the construction company’s stock worth $162,503,000 after buying an additional 1,307,033 shares in the last quarter. Wellington Management Group LLP lifted its position in shares of KBR by 240.2% during the 4th quarter. Wellington Management Group LLP now owns 1,653,299 shares of the construction company’s stock worth $95,776,000 after buying an additional 1,167,282 shares in the last quarter. Finally, Balyasny Asset Management L.P. lifted its position in shares of KBR by 444.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 1,247,506 shares of the construction company’s stock worth $72,268,000 after buying an additional 1,018,539 shares in the last quarter. Institutional investors own 97.02% of the company’s stock.

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.