Envestnet Asset Management Inc. Trims Position in KBR, Inc. (NYSE:KBR)

Envestnet Asset Management Inc. lessened its stake in shares of KBR, Inc. (NYSE:KBR) by 4.6% in the second quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 75,927 shares of the construction company’s stock after selling 3,625 shares during the quarter. Envestnet Asset Management Inc. owned about 0.06% of KBR worth $4,940,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. US Bancorp DE lifted its position in KBR by 13.1% in the first quarter. US Bancorp DE now owns 1,906 shares of the construction company’s stock valued at $105,000 after purchasing an additional 221 shares during the last quarter. Belpointe Asset Management LLC increased its stake in shares of KBR by 35.5% during the first quarter. Belpointe Asset Management LLC now owns 871 shares of the construction company’s stock valued at $48,000 after buying an additional 228 shares during the period. Public Employees Retirement System of Ohio increased its stake in shares of KBR by 0.4% during the fourth quarter. Public Employees Retirement System of Ohio now owns 69,856 shares of the construction company’s stock valued at $3,688,000 after buying an additional 287 shares during the period. Mackenzie Financial Corp increased its stake in shares of KBR by 4.2% during the first quarter. Mackenzie Financial Corp now owns 7,948 shares of the construction company’s stock valued at $435,000 after buying an additional 322 shares during the period. Finally, Sawgrass Asset Management LLC increased its stake in shares of KBR by 7.3% during the second quarter. Sawgrass Asset Management LLC now owns 5,681 shares of the construction company’s stock valued at $370,000 after buying an additional 385 shares during the period.

Insider Activity

In other KBR news, CFO Mark W. Sopp purchased 5,000 shares of the stock in a transaction dated Wednesday, November 8th. The shares were purchased at an average cost of $51.53 per share, with a total value of $257,650.00. Following the completion of the acquisition, the chief financial officer now directly owns 147,178 shares in the company, valued at approximately $7,584,082.34. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Corporate insiders own 1.03% of the company’s stock.

KBR Trading Down 0.6 %

Shares of NYSE:KBR opened at $51.86 on Monday. The company has a market cap of $7.00 billion, a P/E ratio of -32.82, a PEG ratio of 1.39 and a beta of 1.11. The company has a debt-to-equity ratio of 0.97, a current ratio of 0.98 and a quick ratio of 0.98. KBR, Inc. has a 1 year low of $47.70 and a 1 year high of $65.87. The stock’s fifty day moving average price is $57.68 and its 200-day moving average price is $60.35.

KBR Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Tuesday, January 16th. Stockholders of record on Friday, December 15th will be issued a dividend of $0.135 per share. This represents a $0.54 dividend on an annualized basis and a dividend yield of 1.04%. The ex-dividend date is Thursday, December 14th. KBR’s payout ratio is currently -34.18%.

Analysts Set New Price Targets

KBR has been the topic of several research analyst reports. Stifel Nicolaus boosted their target price on KBR from $75.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, September 6th. DA Davidson upped their price target on KBR from $70.00 to $75.00 and gave the stock a “buy” rating in a research note on Monday, July 31st. The Goldman Sachs Group reduced their price target on KBR from $75.00 to $66.00 and set a “buy” rating on the stock in a research note on Friday, November 3rd. StockNews.com cut KBR from a “buy” rating to a “hold” rating in a research note on Friday, November 3rd. Finally, TheStreet cut KBR from a “b+” rating to a “c” rating in a research note on Thursday, July 27th. One investment analyst has rated the stock with a hold rating and seven have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, KBR currently has an average rating of “Moderate Buy” and a consensus target price of $69.71.

KBR Company Profile

KBR, Inc provides scientific, technology, and engineering solutions to governments and commercial customers worldwide. The company 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.