KB Home (NYSE:KBH) Shares Sold by Commonwealth of Pennsylvania Public School Empls Retrmt SYS

Commonwealth of Pennsylvania Public School Empls Retrmt SYS decreased its holdings in KB Home (NYSE:KBH) by 2.1% in the fourth quarter, Holdings Channel reports. The firm owned 15,556 shares of the construction company’s stock after selling 333 shares during the period. Commonwealth of Pennsylvania Public School Empls Retrmt SYS’s holdings in KB Home were worth $1,022,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in KB Home by 47.9% in the third quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock worth $463,690,000 after acquiring an additional 1,752,498 shares in the last quarter. Holocene Advisors LP purchased a new position in shares of KB Home in the 3rd quarter valued at approximately $89,899,000. Hennessy Advisors Inc. acquired a new stake in KB Home in the 4th quarter worth approximately $44,118,000. Raymond James Financial Inc. purchased a new stake in KB Home during the 4th quarter worth approximately $12,288,000. Finally, Charles Schwab Investment Management Inc. increased its stake in KB Home by 22.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company’s stock valued at $77,655,000 after purchasing an additional 164,010 shares in the last quarter. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on KBH shares. JPMorgan Chase & Co. dropped their price objective on shares of KB Home from $82.00 to $74.50 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Wedbush reaffirmed a “neutral” rating and set a $75.00 price target on shares of KB Home in a research report on Tuesday. Keefe, Bruyette & Woods cut their price objective on KB Home from $76.00 to $65.00 and set a “market perform” rating on the stock in a report on Wednesday. Bank of America decreased their target price on KB Home from $67.00 to $62.00 and set a “neutral” rating for the company in a report on Tuesday. Finally, StockNews.com downgraded shares of KB Home from a “hold” rating to a “sell” rating in a report on Wednesday. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, KB Home presently has a consensus rating of “Hold” and a consensus target price of $71.21.

KB Home Stock Performance

KBH opened at $59.14 on Thursday. The firm has a fifty day moving average price of $63.81 and a 200 day moving average price of $72.71. KB Home has a 1 year low of $56.41 and a 1 year high of $89.70. The stock has a market cap of $4.23 billion, a P/E ratio of 6.98, a P/E/G ratio of 0.90 and a beta of 1.89. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.51 and a quick ratio of 0.83.

KB Home (NYSE:KBH) last posted its earnings results on Monday, March 24th. The construction company reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.07). KB Home had a return on equity of 16.46% and a net margin of 9.45%. The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same period in the previous year, the company earned $1.76 earnings per share. The company’s revenue was down 5.2% compared to the same quarter last year. Equities research analysts anticipate that KB Home will post 8.42 earnings per share for the current year.

KB Home Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.69%. The ex-dividend date of this dividend was Thursday, February 6th. KB Home’s payout ratio is currently 11.81%.

Insider Transactions at KB Home

In related news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $68.77, for a total value of $1,891,175.00. Following the sale, the chief financial officer now owns 34,473 shares of the company’s stock, valued at approximately $2,370,708.21. This trade represents a 44.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 3.89% of the company’s stock.

KB Home Company Profile

KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers.