State Street Corp Lowers Stake in Beazer Homes USA, Inc. (NYSE:BZH)

State Street Corp decreased its position in Beazer Homes USA, Inc. (NYSE:BZH) by 0.6% during the third quarter, Holdings Channel reports. The firm owned 1,211,735 shares of the construction company’s stock after selling 7,809 shares during the quarter. State Street Corp’s holdings in Beazer Homes USA were worth $41,405,000 at the end of the most recent quarter.

A number of other large investors also recently added to or reduced their stakes in the company. Marshall Wace LLP raised its holdings in shares of Beazer Homes USA by 91.9% in the 2nd quarter. Marshall Wace LLP now owns 57,769 shares of the construction company’s stock valued at $1,587,000 after buying an additional 27,666 shares during the period. Koss Olinger Consulting LLC purchased a new stake in Beazer Homes USA during the second quarter worth about $447,000. Victory Capital Management Inc. lifted its position in shares of Beazer Homes USA by 711.4% during the third quarter. Victory Capital Management Inc. now owns 225,453 shares of the construction company’s stock worth $7,704,000 after purchasing an additional 197,666 shares in the last quarter. Healthcare of Ontario Pension Plan Trust Fund purchased a new position in shares of Beazer Homes USA in the third quarter valued at approximately $1,370,000. Finally, Creative Planning acquired a new position in shares of Beazer Homes USA in the third quarter valued at approximately $286,000. 85.65% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In related news, CFO David I. Goldberg sold 6,057 shares of the stock in a transaction on Tuesday, November 12th. The shares were sold at an average price of $32.06, for a total transaction of $194,187.42. Following the completion of the sale, the chief financial officer now owns 131,004 shares in the company, valued at $4,199,988.24. This represents a 4.42 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Company insiders own 6.99% of the company’s stock.

Wall Street Analysts Forecast Growth

BZH has been the subject of several recent research reports. Zelman & Associates reissued an “underperform” rating on shares of Beazer Homes USA in a research report on Tuesday, September 17th. Wedbush upgraded Beazer Homes USA from a “neutral” rating to an “outperform” rating and lifted their target price for the company from $41.00 to $45.00 in a report on Thursday, September 5th. Two equities research analysts have rated the stock with a sell rating and three have assigned a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $39.67.

Beazer Homes USA Stock Up 0.4 %

BZH stock opened at $27.92 on Friday. The stock has a market cap of $866.92 million, a P/E ratio of 6.16, a PEG ratio of 0.36 and a beta of 2.19. The company has a current ratio of 14.29, a quick ratio of 1.87 and a debt-to-equity ratio of 0.83. Beazer Homes USA, Inc. has a twelve month low of $25.48 and a twelve month high of $38.22. The company’s 50 day moving average is $32.40 and its two-hundred day moving average is $31.06.

Beazer Homes USA (NYSE:BZH) last announced its quarterly earnings results on Wednesday, November 13th. The construction company reported $1.69 earnings per share for the quarter, beating analysts’ consensus estimates of $1.35 by $0.34. The firm had revenue of $806.20 million during the quarter, compared to analysts’ expectations of $775.42 million. Beazer Homes USA had a net margin of 6.02% and a return on equity of 11.95%. Beazer Homes USA’s quarterly revenue was up 24.9% compared to the same quarter last year. During the same period in the previous year, the company earned $1.80 earnings per share. Research analysts expect that Beazer Homes USA, Inc. will post 4.44 earnings per share for the current fiscal year.

About Beazer Homes USA

Beazer Homes USA, Inc operates as a homebuilder in the United States. It designs, constructs, and sells single-family and multi-family homes under the Beazer Homes, Gatherings, and Choice Plans names. The company also sells its homes through commissioned new home sales counselors and independent brokers in Arizona, California, Nevada, Texas, Indiana, Delaware, Maryland, Tennessee, Virginia, Florida, Georgia, North Carolina, and South Carolina.