Ontario Teachers Pension Plan Board Has $3.76 Million Stock Holdings in KB Home (NYSE:KBH)

Ontario Teachers Pension Plan Board cut its stake in shares of KB Home (NYSE:KBH) by 23.1% during the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 60,146 shares of the construction company’s stock after selling 18,102 shares during the period. Ontario Teachers Pension Plan Board owned approximately 0.08% of KB Home worth $3,757,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of KBH. Allspring Global Investments Holdings LLC grew its holdings in shares of KB Home by 6.7% during the third quarter. Allspring Global Investments Holdings LLC now owns 9,880 shares of the construction company’s stock valued at $457,000 after buying an additional 624 shares in the last quarter. Sumitomo Mitsui Trust Holdings Inc. grew its holdings in shares of KB Home by 60.5% during the third quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 8,184 shares of the construction company’s stock valued at $379,000 after buying an additional 3,084 shares in the last quarter. Fifth Third Bancorp grew its holdings in shares of KB Home by 40.9% during the third quarter. Fifth Third Bancorp now owns 930 shares of the construction company’s stock valued at $43,000 after buying an additional 270 shares in the last quarter. California Public Employees Retirement System grew its holdings in shares of KB Home by 7.6% during the third quarter. California Public Employees Retirement System now owns 161,234 shares of the construction company’s stock valued at $7,462,000 after buying an additional 11,335 shares in the last quarter. Finally, Jackson Creek Investment Advisors LLC purchased a new position in KB Home in the third quarter valued at about $936,000. 96.09% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have commented on KBH. Zelman & Associates restated an “underperform” rating and issued a $69.00 target price on shares of KB Home in a research note on Monday, May 13th. The Goldman Sachs Group boosted their price target on KB Home from $61.00 to $70.00 and gave the stock a “neutral” rating in a research report on Friday, March 22nd. Wells Fargo & Company boosted their price target on KB Home from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research report on Thursday, March 21st. Keefe, Bruyette & Woods boosted their price objective on KB Home from $67.00 to $77.00 and gave the stock a “market perform” rating in a research report on Thursday, March 28th. Finally, Barclays upped their price objective on KB Home from $75.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Two research analysts have rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $66.30.

KB Home Price Performance

Shares of KBH stock traded down $1.53 on Wednesday, reaching $69.77. 2,491,222 shares of the stock were exchanged, compared to its average volume of 1,197,102. The stock has a market cap of $5.30 billion, a PE ratio of 9.71, a P/E/G ratio of 0.83 and a beta of 1.74. KB Home has a one year low of $42.11 and a one year high of $74.65. The stock has a 50 day moving average price of $67.54 and a 200 day moving average price of $62.47.

KB Home (NYSE:KBH) last released its earnings results on Wednesday, March 20th. The construction company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.19. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. KB Home had a return on equity of 15.78% and a net margin of 9.29%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.45 earnings per share. On average, research analysts expect that KB Home will post 8.01 earnings per share for the current fiscal year.

KB Home Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Investors of record on Thursday, May 9th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, May 8th. This is a boost from KB Home’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a yield of 1.43%. KB Home’s dividend payout ratio is 13.61%.

Insider Activity at KB Home

In related news, CFO Jeff Kaminski sold 38,386 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $66.56, for a total transaction of $2,554,972.16. Following the completion of the transaction, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at $2,294,522.88. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, EVP Albert Z. Praw sold 22,160 shares of the stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $70.11, for a total transaction of $1,553,637.60. Following the transaction, the executive vice president now owns 135,512 shares in the company, valued at $9,500,746.32. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CFO Jeff Kaminski sold 38,386 shares of the stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $66.56, for a total value of $2,554,972.16. Following the transaction, the chief financial officer now owns 34,473 shares in the company, valued at approximately $2,294,522.88. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 64,460 shares of company stock valued at $4,384,468. Insiders own 3.52% of the company’s stock.

About KB Home

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.