Cornercap Investment Counsel Inc. Purchases New Position in KBR, Inc. (NYSE:KBR)

Cornercap Investment Counsel Inc. acquired a new position in KBR, Inc. (NYSE:KBR) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund acquired 3,573 shares of the construction company’s stock, valued at approximately $207,000.

Several other hedge funds have also modified their holdings of the company. True Wealth Design LLC bought a new stake in KBR during the third quarter worth approximately $26,000. UMB Bank n.a. boosted its holdings in shares of KBR by 49.2% in the 4th quarter. UMB Bank n.a. now owns 531 shares of the construction company’s stock worth $31,000 after purchasing an additional 175 shares during the period. First Horizon Advisors Inc. bought a new position in shares of KBR during the 4th quarter valued at approximately $32,000. Wilmington Savings Fund Society FSB purchased a new stake in KBR during the 4th quarter valued at $68,000. Finally, Venturi Wealth Management LLC lifted its position in KBR by 507.2% in the fourth quarter. Venturi Wealth Management LLC now owns 1,603 shares of the construction company’s stock worth $93,000 after buying an additional 1,339 shares during the last quarter. 97.02% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms have weighed in on KBR. Citigroup cut their price objective on shares of KBR from $82.00 to $76.00 and set a “buy” rating on the stock in a research report on Wednesday, January 29th. TD Cowen reduced their price objective on shares of KBR from $72.00 to $64.00 and set a “hold” rating on the stock in a research report on Wednesday, January 8th. The Goldman Sachs Group dropped their target price on KBR from $75.00 to $64.00 and set a “buy” rating for the company in a research report on Wednesday, February 26th. Finally, KeyCorp reduced their price target on KBR from $70.00 to $67.00 and set an “overweight” rating on the stock in a report on Tuesday, February 25th. One investment analyst has rated the stock with a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $75.88.

Insider Activity

In other 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 sale, the insider now directly owns 63,533 shares in the company, valued at approximately $3,214,134.47. This trade represents a 23.02 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 1.08% of the company’s stock.

KBR Price Performance

Shares of KBR stock opened at $50.34 on Friday. KBR, Inc. has a twelve month low of $47.16 and a twelve month high of $72.60. 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 fifty day simple moving average of $52.32 and a two-hundred day simple moving average of $59.18. The stock has a market capitalization of $6.53 billion, a price-to-earnings ratio of 21.15, a P/E/G ratio of 0.86 and a beta of 0.86.

KBR (NYSE:KBR) last released its quarterly earnings data on Monday, February 24th. The construction company reported $0.91 earnings per share for the quarter, topping analysts’ consensus estimates of $0.83 by $0.08. The company had revenue of $2.12 billion during the quarter, compared to analyst estimates of $2 billion. KBR had a net margin of 4.35% and a return on equity of 28.87%. On average, analysts predict that KBR, Inc. will post 3.26 EPS for the current fiscal year.

KBR Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Tuesday, April 15th. Stockholders of record on Friday, March 14th will be issued a $0.165 dividend. The ex-dividend date is Friday, March 14th. This is an increase from KBR’s previous quarterly dividend of $0.15. This represents a $0.66 dividend on an annualized basis and a dividend yield of 1.31%. KBR’s dividend payout ratio (DPR) is currently 23.57%.

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.