Allspring Global Investments Holdings LLC Purchases 4,385 Shares of KBR, Inc. (NYSE:KBR)

Allspring Global Investments Holdings LLC raised its stake in KBR, Inc. (NYSE:KBR) by 840.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 4,907 shares of the construction company’s stock after acquiring an additional 4,385 shares during the period. Allspring Global Investments Holdings LLC’s holdings in KBR were worth $284,000 as of its most recent SEC filing.

A number of other hedge funds also recently made changes to their positions in the company. State Street Corp lifted its holdings in shares of KBR by 0.7% in the 3rd quarter. State Street Corp now owns 4,016,324 shares of the construction company’s stock valued at $262,185,000 after acquiring an additional 29,833 shares during the last quarter. Franklin Resources Inc. raised its holdings in KBR by 14.5% during the 3rd quarter. Franklin Resources Inc. now owns 2,416,531 shares of the construction company’s stock valued at $167,876,000 after buying an additional 305,889 shares during the period. Jennison Associates LLC lifted its position in KBR by 27.8% in the third quarter. Jennison Associates LLC now owns 1,621,740 shares of the construction company’s stock worth $105,624,000 after buying an additional 353,209 shares during the last quarter. Loomis Sayles & Co. L P lifted its position in KBR by 5.3% in the third quarter. Loomis Sayles & Co. L P now owns 1,256,562 shares of the construction company’s stock worth $81,840,000 after buying an additional 62,880 shares during the last quarter. Finally, Hennessy Advisors Inc. purchased a new position in KBR during the fourth quarter worth $47,022,000. 97.02% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

KBR has been the subject of several analyst reports. TD Cowen lowered their target price on shares of KBR from $72.00 to $64.00 and set a “hold” rating for the company in a report on Wednesday, January 8th. KeyCorp decreased their price target on KBR from $70.00 to $67.00 and set an “overweight” rating for the company in a research note on Tuesday. DA Davidson reiterated a “buy” rating and set a $84.00 target price on shares of KBR in a research report on Tuesday, November 19th. UBS Group upped their price target on shares of KBR from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Wednesday, October 30th. Finally, Citigroup lowered their price objective on shares of KBR from $82.00 to $76.00 and set a “buy” rating for the company in a research report on Wednesday, January 29th. One equities research analyst has rated the stock with a hold rating and seven have issued a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Moderate Buy” and an average target price of $77.57.

KBR Stock Down 3.8 %

KBR stock opened at $48.29 on Wednesday. The business has a fifty day moving average price of $55.82 and a 200-day moving average price of $61.69. KBR, Inc. has a 1-year low of $47.19 and a 1-year high of $72.60. The stock has a market capitalization of $6.43 billion, a price-to-earnings ratio of 20.29, a PEG ratio of 0.86 and a beta of 0.83. The company has a debt-to-equity ratio of 1.69, a current ratio of 1.07 and a quick ratio of 1.07.

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

KBR Increases Dividend

The business also recently announced a quarterly dividend, which will be paid on Tuesday, April 15th. Investors of record on Friday, March 14th will be issued a dividend of $0.165 per share. This represents a $0.66 annualized dividend and a yield of 1.37%. This is a positive change from KBR’s previous quarterly dividend of $0.15. The ex-dividend date is Friday, March 14th. KBR’s dividend payout ratio (DPR) is 27.73%.

KBR 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.