Arrowstreet Capital Limited Partnership Lowers Stock Holdings in KB Home (NYSE:KBH)

Arrowstreet Capital Limited Partnership lessened its stake in KB Home (NYSE:KBH) by 44.2% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 910,033 shares of the construction company’s stock after selling 719,957 shares during the period. Arrowstreet Capital Limited Partnership’s holdings in KB Home were worth $59,807,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the stock. New Age Alpha Advisors LLC purchased a new position in shares of KB Home in the 4th quarter valued at approximately $350,000. Norges Bank acquired a new stake in shares of KB Home during the fourth quarter worth $49,638,000. Caisse Des Depots ET Consignations purchased a new position in KB Home in the 4th quarter valued at $2,484,000. Homestead Advisers Corp increased its stake in KB Home by 11.4% in the 4th quarter. Homestead Advisers Corp now owns 30,300 shares of the construction company’s stock valued at $1,991,000 after buying an additional 3,100 shares during the period. Finally, JPMorgan Chase & Co. raised its position in KB Home by 24.4% during the 4th quarter. JPMorgan Chase & Co. now owns 727,809 shares of the construction company’s stock worth $47,832,000 after buying an additional 142,913 shares during the last quarter. 96.09% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at KB Home

In related news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $68.77, for a total transaction of $1,891,175.00. Following the completion of the sale, the chief financial officer now owns 34,473 shares in the company, valued at approximately $2,370,708.21. This trade represents a 44.37 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.89% of the company’s stock.

Analyst Ratings Changes

Several analysts have recently weighed in on KBH shares. Seaport Res Ptn raised shares of KB Home from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. JPMorgan Chase & Co. lowered their price objective on KB Home from $82.00 to $74.50 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Royal Bank of Canada reduced their price target on KB Home from $67.00 to $63.00 and set a “sector perform” rating for the company in a report on Tuesday, March 25th. UBS Group dropped their price objective on KB Home from $97.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. Finally, Wells Fargo & Company decreased their target price on shares of KB Home from $63.00 to $57.00 and set an “underweight” rating on the stock in a research report on Tuesday, March 25th. Three investment analysts have rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $71.21.

KB Home Trading Up 0.4 %

NYSE:KBH opened at $58.32 on Wednesday. KB Home has a 52-week low of $56.41 and a 52-week high of $89.70. The company has a quick ratio of 0.83, a current ratio of 5.51 and a debt-to-equity ratio of 0.42. The stock has a fifty day simple moving average of $63.06 and a 200-day simple moving average of $71.99. The company has a market capitalization of $4.17 billion, a PE ratio of 6.89, a price-to-earnings-growth ratio of 0.90 and a beta of 1.89.

KB Home (NYSE:KBH) last announced its quarterly 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). The business had revenue of $1.39 billion during the quarter, compared to analysts’ expectations of $1.51 billion. KB Home had a net margin of 9.45% and a return on equity of 16.46%. The firm’s revenue for the quarter was down 5.2% on a year-over-year basis. During the same period last year, the company earned $1.76 EPS. On average, equities research analysts expect that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Announces Dividend

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Thursday, February 6th. KB Home’s dividend payout ratio (DPR) is presently 12.20%.

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.