On August 20, 2023, investment management firm Federated Hermes Inc. announced a significant reduction in its position in KBR, Inc. (NYSE: KBR) during the first quarter of the year. According to its recent filing with the Securities and Exchange Commission, Federated Hermes Inc. sold 3,207 shares of the construction company’s stock, resulting in a decrease of 15.9% in its holdings. As a result, the institutional investor now owns 17,026 shares of KBR’s stock, valuing at $937,000.
This decision by Federated Hermes Inc. reflects their assessment of KBR’s performance and strategic outlook. It is worth noting that these changes in ownership occur as part of regular portfolio adjustments made by institutional investors based on various factors such as financial reports and market conditions.
KBR recently released its quarterly earnings data for the period ending on July 27th. The company reported earnings per share (EPS) of $0.74, surpassing analysts’ consensus estimates by $0.04. Despite a negative net margin of 1.46%, KBR showcased a positive return on equity of 24.94%. The company also witnessed an increase in quarterly revenue by 8.5%, generating $1.75 billion compared to analyst estimates.
Equities analysts are optimistic about KBR’s future performance and anticipate that it will achieve earnings per share (EPS) of around 2.9 for the current year. Such projections demonstrate confidence in the company’s ability to navigate market challenges and capitalize on growth opportunities.
As shareholders and investors evaluate their positions within various companies, it is essential to consider both short-term financial performance and long-term strategies employed by the organizations they are invested in.
The information provided above serves as an update on Federated Hermes Inc.’s reduction in its holdings of KBR stock and analyzes KBR’s recent earnings report. It is vital for investors to conduct thorough research and assess their investment portfolios regularly to make informed decisions based on reliable data.
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Hedge Funds and Institutional Investors Spark Bewilderment with Significant Position Changes in KBR
[stock_market_widget type=”chart” template=”basic” color=”#3946CE” assets=”KBR” range=”1mo” interval=”1d” axes=”true” cursor=”true” range_selector=”true” api=”yf”]In a perplexing turn of events, several hedge funds and institutional investors have recently made significant changes to their positions in KBR, the construction company listed on the New York Stock Exchange under the symbol NYSE:KBR. These changes have raised eyebrows and left many investors feeling both bewildered and curious about the potential implications for KBR’s stock.
One noteworthy change comes from Norges Bank, which has acquired a new position in KBR shares during the fourth quarter of 2022. This new position is valued at an impressive $84,561,000, leaving observers puzzled by the bank’s sudden interest in the company. Additionally, Arrowstreet Capital Limited Partnership has experienced a staggering growth of its holdings in KBR by a mind-boggling 9,478.0% during the first quarter of 2023. The partnership now holds 1,303,373 shares valued at $71,334,000.
Another enigmatic move was made by BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp, which bought a new stake in KBR shares during the fourth quarter of last year with an approximate value of $63,463,000. Renaissance Technologies LLC also joined this surprising trend by acquiring a new stake worth approximately $22,631,000 during the first quarter of 2023. Lastly but not leastly (as they say), Hudson Way Capital Management LLC experienced an astonishing increase of its holdings in KBR by 117.9% during the last quarter of 2022. The company now owns an astounding 583,
891 shares valued at $30,829,
000.
On August 20th,
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Let’s face it; these movements are perplexing at best and baffle even the most seasoned investor or analyst.
In order to shed some light on this matter,
it is crucial to examine other factors that may affect KBR’s current situation. For instance, the stock opened at $59.61 on Friday, and its fifty-day moving average stands at $63.27 while its 200-day moving average is reported as $58.51. The company’s ability to handle debt poses a fascinating question; with a debt-to-equity ratio of 1.00, investors are left scratching their heads about KBR’s financial stability.
Moreover, KBR’s recent trading range between its 52-week low of $41.96 and its 52-week high of $65.87 only adds to the overall mystique surrounding the company’s prospects in the market. With a market capitalization of $8.04 billion, negative price-to-earnings (P/E) ratio of -64.10, P/E growth (P/E/G) ratio of 1.48, and a beta of 1.11 this mirrors an enigmatic blur.
Adding to the intrigue surrounding KBR is the news of CEO Stuart Bradie selling an astonishing number of shares in June 2023.
