Pier 88 Investment Partners LLC Sells 25,500 Shares of KBR, Inc. (NYSE:KBR)

Pier 88 Investment Partners LLC reduced its stake in KBR, Inc. (NYSE:KBR) by 38.8% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 40,290 shares of the construction company’s stock after selling 25,500 shares during the period. Pier 88 Investment Partners LLC’s holdings in KBR were worth $2,584,000 as of its most recent SEC filing.

Several other hedge funds have also bought and sold shares of the stock. Rise Advisors LLC bought a new position in shares of KBR during the 1st quarter valued at approximately $25,000. Larson Financial Group LLC lifted its position in KBR by 2,029.2% during the second quarter. Larson Financial Group LLC now owns 511 shares of the construction company’s stock valued at $33,000 after purchasing an additional 487 shares during the last quarter. CWM LLC grew its stake in shares of KBR by 39.4% in the 2nd quarter. CWM LLC now owns 817 shares of the construction company’s stock worth $52,000 after buying an additional 231 shares in the last quarter. Fifth Third Bancorp increased its holdings in shares of KBR by 17.5% in the 2nd quarter. Fifth Third Bancorp now owns 1,204 shares of the construction company’s stock worth $77,000 after buying an additional 179 shares during the last quarter. Finally, Principal Securities Inc. purchased a new stake in shares of KBR during the 4th quarter valued at about $82,000. Hedge funds and other institutional investors own 97.02% of the company’s stock.

Insider Activity

In related news, insider Jalal Ibrahim sold 35,000 shares of the firm’s stock in a transaction dated Monday, August 19th. The stock was sold at an average price of $66.56, for a total transaction of $2,329,600.00. Following the sale, the insider now owns 106,550 shares of the company’s stock, valued at $7,091,968. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Company insiders own 1.08% of the company’s stock.

KBR Price Performance

KBR opened at $62.04 on Friday. The business has a fifty day moving average of $65.83 and a 200 day moving average of $64.32. The stock has a market cap of $8.33 billion, a P/E ratio of -32.31, a PEG ratio of 1.43 and a beta of 0.90. The company has a quick ratio of 1.10, a current ratio of 1.10 and a debt-to-equity ratio of 1.35. KBR, Inc. has a 52-week low of $49.37 and a 52-week high of $69.50.

KBR (NYSE:KBR) last announced its quarterly earnings data on Wednesday, July 24th. The construction company reported $0.83 earnings per share for the quarter, beating analysts’ consensus estimates of $0.79 by $0.04. KBR had a net margin of 2.77% and a return on equity of 27.92%. The company had revenue of $1.86 billion during the quarter, compared to analyst estimates of $1.88 billion. As a group, sell-side analysts anticipate that KBR, Inc. will post 3.24 EPS for the current year.

KBR Announces Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Tuesday, October 15th. Investors of record on Monday, September 16th will be issued a $0.15 dividend. The ex-dividend date of this dividend is Monday, September 16th. This represents a $0.60 annualized dividend and a dividend yield of 0.97%. KBR’s payout ratio is currently -31.25%.

Wall Street Analyst Weigh In

KBR has been the subject of several recent research reports. TD Cowen lowered KBR from a “buy” rating to a “hold” rating and set a $72.00 price target for the company. in a research report on Friday. StockNews.com downgraded KBR from a “strong-buy” rating to a “buy” rating in a research report on Monday, August 12th. UBS Group increased their price target on KBR from $68.00 to $77.00 and gave the company a “buy” rating in a report on Tuesday, May 14th. Finally, DA Davidson reaffirmed a “buy” rating and set a $78.00 price objective on shares of KBR in a research note on Tuesday, June 25th. One analyst has rated the stock with a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $75.50.

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.