Assetmark Inc. Sells 8,880 Shares of KB Home $KBH

Assetmark Inc. decreased its stake in shares of KB Home (NYSE:KBH) by 13.1% in the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 58,708 shares of the construction company’s stock after selling 8,880 shares during the quarter. Assetmark Inc. owned about 0.09% of KB Home worth $3,736,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. SG Americas Securities LLC lifted its holdings in shares of KB Home by 204.8% during the third quarter. SG Americas Securities LLC now owns 69,078 shares of the construction company’s stock valued at $4,396,000 after purchasing an additional 46,415 shares in the last quarter. Y Intercept Hong Kong Ltd purchased a new position in KB Home in the 3rd quarter worth about $1,551,000. Deprince Race & Zollo Inc. purchased a new position in KB Home in the 3rd quarter worth about $59,301,000. Strs Ohio lifted its stake in KB Home by 1,788.1% during the 3rd quarter. Strs Ohio now owns 79,300 shares of the construction company’s stock valued at $5,047,000 after acquiring an additional 75,100 shares during the period. Finally, Aristides Capital LLC purchased a new stake in shares of KB Home during the 2nd quarter valued at about $240,000. 96.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several research analysts have recently weighed in on KBH shares. JPMorgan Chase & Co. decreased their price objective on shares of KB Home from $71.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, December 29th. Raymond James Financial downgraded shares of KB Home from an “outperform” rating to a “market perform” rating in a research report on Wednesday, December 24th. Bank of America decreased their target price on shares of KB Home from $62.00 to $58.00 and set a “neutral” rating for the company in a research note on Monday, December 22nd. UBS Group dropped their price target on KB Home from $77.00 to $71.00 and set a “buy” rating on the stock in a research note on Tuesday, January 6th. Finally, The Goldman Sachs Group reiterated a “neutral” rating and set a $66.00 price objective on shares of KB Home in a research report on Tuesday, January 13th. Two investment analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have given a Sell rating to the company’s stock. According to MarketBeat.com, KB Home presently has a consensus rating of “Hold” and an average target price of $62.73.

KB Home Stock Performance

KBH opened at $65.73 on Wednesday. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.53 and a current ratio of 5.77. The stock has a market capitalization of $4.15 billion, a price-to-earnings ratio of 13.39, a PEG ratio of 8.66 and a beta of 1.49. The company has a fifty day moving average of $60.37 and a 200 day moving average of $61.76. KB Home has a fifty-two week low of $48.90 and a fifty-two week high of $68.71.

KB Home (NYSE:KBH) last released its quarterly earnings data on Thursday, December 18th. The construction company reported $1.92 EPS for the quarter, beating the consensus estimate of $1.79 by $0.13. KB Home had a net margin of 6.88% and a return on equity of 11.40%. The business had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the firm earned $2.52 EPS. The business’s revenue was down 15.5% on a year-over-year basis. As a group, sell-side analysts forecast that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Thursday, February 5th will be issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.5%. The ex-dividend date is Thursday, February 5th. KB Home’s dividend payout ratio (DPR) is currently 20.37%.

KB Home Company Profile

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.