Trading Report: Today, Pzena Investment Management LLC Reached $72,241,000 position of KBR Inc. (KBR)

Today, Pzena Investment Management LLC Reached $72,241,000 position  of KBR Inc. (KBR)

Pzena Investment Management LLC cut its stake in shares of KBR Inc. (NYSE:KBR) by 2.3% during the third quarter, according to its most recent disclosure with the SEC. The firm owned 4,774,681 shares of the company’s stock after selling 113,442 shares during the period. Pzena Investment Management LLC owned 3.35% of KBR worth $72,241,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Geode Capital Management LLC boosted its position in shares of KBR by 3.8% in the first quarter. Geode Capital Management LLC now owns 890,036 shares of the company’s stock worth $13,777,000 after buying an additional 32,750 shares during the last quarter. Boothbay Fund Management LLC acquired a new position in shares of KBR during the first quarter worth about $334,000. BNP Paribas Arbitrage SA boosted its position in shares of KBR by 448.7% in the second quarter. BNP Paribas Arbitrage SA now owns 76,605 shares of the company’s stock worth $1,014,000 after buying an additional 62,644 shares during the last quarter. Nisa Investment Advisors LLC boosted its position in shares of KBR by 4.9% in the second quarter. Nisa Investment Advisors LLC now owns 56,066 shares of the company’s stock worth $742,000 after buying an additional 2,600 shares during the last quarter. Finally, Fox Run Management L.L.C. acquired a new position in shares of KBR during the second quarter worth about $291,000. Hedge funds and other institutional investors own 98.92% of the company’s stock.

Shares of KBR Inc. (NYSE:KBR) opened at 17.13 on Friday. The stock has a market capitalization of $2.44 billion, a P/E ratio of 36.29 and a beta of 1.46. KBR Inc. has a 1-year low of $11.61 and a 1-year high of $19.94. The firm’s 50-day moving average is $15.19 and its 200 day moving average is $14.69.

KBR (NYSE:KBR) last posted its quarterly earnings data on Tuesday, November 1st. The company reported ($0.44) EPS for the quarter, missing analysts’ consensus estimates of ($0.35) by $0.09. KBR had a net margin of 1.64% and a return on equity of 16.67%. The firm had revenue of $1.07 billion for the quarter, compared to analysts’ expectations of $1.18 billion. During the same period in the prior year, the company posted $0.40 earnings per share. KBR’s quarterly revenue was down 10.5% compared to the same quarter last year. On average, analysts expect that KBR Inc. will post $0.45 EPS for the current fiscal year.

The company also recently disclosed a quarterly dividend, which will be paid on Friday, January 13th. Shareholders of record on Thursday, December 15th will be paid a dividend of $0.08 per share. This represents a $0.32 dividend on an annualized basis and a yield of 1.87%. The ex-dividend date is Tuesday, December 13th. KBR’s dividend payout ratio is presently 68.09%.

A number of equities analysts have issued reports on KBR shares. Goldman Sachs Group Inc. cut shares of KBR from a “neutral” rating to a “sell” rating and cut their target price for the stock from $16.00 to $15.00 in a research report on Tuesday, October 11th. MKM Partners set a $15.00 target price on shares of KBR and gave the stock a “hold” rating in a research report on Monday, October 3rd. Deutsche Bank AG upgraded shares of KBR from a “hold” rating to a “buy” rating and lifted their target price for the stock from $14.00 to $16.00 in a research report on Tuesday, October 4th. Bank of America Corp. upgraded shares of KBR from a “neutral” rating to a “buy” rating and set a $20.00 target price for the company in a research report on Thursday, November 17th. They noted that the move was a valuation call. Finally, DA Davidson reissued a “buy” rating and issued a $20.00 price objective on shares of KBR in a research report on Wednesday, October 5th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and seven have given a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and a consensus price target of $17.94.

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