LPL Financial LLC lessened its position in shares of KB Home (NYSE:KBH) by 23.5% in the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 17,582 shares of the construction company’s stock after selling 5,389 shares during the quarter. LPL Financial LLC’s holdings in KB Home were worth $562,000 as of its most recent SEC filing.
Several other hedge funds and other institutional investors have also recently bought and sold shares of KBH. New York State Common Retirement Fund raised its stake in shares of KB Home by 33.9% during the 3rd quarter. New York State Common Retirement Fund now owns 170,114 shares of the construction company’s stock worth $4,103,000 after acquiring an additional 43,100 shares in the last quarter. Legal & General Group Plc raised its stake in shares of KB Home by 25.3% during the 3rd quarter. Legal & General Group Plc now owns 81,025 shares of the construction company’s stock worth $1,953,000 after acquiring an additional 16,360 shares in the last quarter. Schwab Charles Investment Management Inc. raised its stake in shares of KB Home by 8.5% during the 3rd quarter. Schwab Charles Investment Management Inc. now owns 518,374 shares of the construction company’s stock worth $12,504,000 after acquiring an additional 40,416 shares in the last quarter. Janney Montgomery Scott LLC bought a new position in shares of KB Home during the 3rd quarter worth approximately $706,000. Finally, California Public Employees Retirement System raised its stake in shares of KB Home by 12.1% during the 3rd quarter. California Public Employees Retirement System now owns 280,808 shares of the construction company’s stock worth $6,773,000 after acquiring an additional 30,408 shares in the last quarter. Hedge funds and other institutional investors own 95.66% of the company’s stock.
KBH has been the subject of several recent analyst reports. JPMorgan Chase reiterated an “underweight” rating and set a $27.00 price objective (up previously from $25.50) on shares of KB Home in a research note on Tuesday, December 19th. Keefe, Bruyette & Woods reiterated a “hold” rating and set a $33.00 price objective on shares of KB Home in a research note on Friday, December 22nd. Buckingham Research lowered shares of KB Home from a “neutral” rating to an “underperform” rating and boosted their price objective for the stock from $28.00 to $34.00 in a research note on Friday, January 12th. They noted that the move was a valuation call. Wedbush reduced their price objective on shares of KB Home from $33.00 to $32.00 and set a “neutral” rating for the company in a research note on Friday, March 23rd. Finally, Credit Suisse Group reiterated a “neutral” rating and set a $38.00 price objective (up previously from $31.00) on shares of KB Home in a research note on Monday, January 22nd. They noted that the move was a valuation call. Five investment analysts have rated the stock with a sell rating, eleven have assigned a hold rating and three have issued a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average price target of $30.25.
NYSE:KBH opened at $28.99 on Tuesday. The company has a market cap of $2,468.38, a price-to-earnings ratio of 15.67, a P/E/G ratio of 0.63 and a beta of 1.42. KB Home has a twelve month low of $19.80 and a twelve month high of $38.80.
KB Home (NYSE:KBH) last released its earnings results on Thursday, March 22nd. The construction company reported $0.40 earnings per share for the quarter, topping the consensus estimate of $0.29 by $0.11. The company had revenue of $871.60 million for the quarter, compared to the consensus estimate of $878.77 million. KB Home had a net margin of 2.15% and a return on equity of 11.16%. KB Home’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.15 EPS. equities analysts expect that KB Home will post 2.84 earnings per share for the current year.
The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, May 17th. Stockholders of record on Thursday, May 3rd will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.34%. The ex-dividend date of this dividend is Wednesday, May 2nd. KB Home’s dividend payout ratio (DPR) is currently 5.41%.
In other news, SVP Thomas F. Norton sold 47,179 shares of the company’s stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $30.32, for a total value of $1,430,467.28. Following the sale, the senior vice president now directly owns 103,562 shares of the company’s stock, valued at approximately $3,139,999.84. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CFO Jeff Kaminski sold 125,000 shares of the company’s stock in a transaction on Tuesday, January 30th. The shares were sold at an average price of $32.53, for a total transaction of $4,066,250.00. Following the completion of the sale, the chief financial officer now directly owns 237,775 shares in the company, valued at $7,734,820.75. The disclosure for this sale can be found here. 8.60% of the stock is owned by corporate insiders.
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KB Home Profile
KB Home operates as a homebuilding company in the United States. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers. The company also provides property and casualty insurance, as well as earthquake, flood, and personal property insurance to its homebuyers; title services; and mortgage banking services, including residential mortgage loan originations to its homebuyers.
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