Gateway Investment Advisers LLC Trims Stake in KB Home (KBH)

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Gateway Investment Advisers LLC trimmed its stake in shares of KB Home (NYSE:KBH) by 29.4% during the first quarter, HoldingsChannel reports. The firm owned 34,647 shares of the construction company’s stock after selling 14,437 shares during the period. Gateway Investment Advisers LLC’s holdings in KB Home were worth $837,000 at the end of the most recent reporting period.

Other hedge funds also recently made changes to their positions in the company. Liberty Wealth Management LLC acquired a new position in shares of KB Home during the fourth quarter worth approximately $25,000. Meeder Asset Management Inc. lifted its position in shares of KB Home by 2,537.0% during the fourth quarter. Meeder Asset Management Inc. now owns 1,424 shares of the construction company’s stock worth $27,000 after purchasing an additional 1,370 shares in the last quarter. Financial Architects Inc lifted its position in shares of KB Home by 97.8% during the fourth quarter. Financial Architects Inc now owns 1,622 shares of the construction company’s stock worth $31,000 after purchasing an additional 802 shares in the last quarter. ETF Managers Group LLC lifted its position in shares of KB Home by 15.8% during the fourth quarter. ETF Managers Group LLC now owns 4,536 shares of the construction company’s stock worth $87,000 after purchasing an additional 618 shares in the last quarter. Finally, Acadian Asset Management LLC acquired a new position in shares of KB Home during the fourth quarter worth approximately $163,000. Institutional investors own 87.54% of the company’s stock.

Shares of NYSE KBH opened at $25.28 on Wednesday. The company has a current ratio of 5.37, a quick ratio of 0.98 and a debt-to-equity ratio of 1.04. The company has a market capitalization of $2.21 billion, a P/E ratio of 9.38, a price-to-earnings-growth ratio of 1.17 and a beta of 1.57. KB Home has a fifty-two week low of $16.82 and a fifty-two week high of $29.46.

KB Home (NYSE:KBH) last posted its earnings results on Tuesday, March 26th. The construction company reported $0.31 earnings per share for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.06. The company had revenue of $811.50 million for the quarter, compared to analyst estimates of $828.56 million. KB Home had a net margin of 6.05% and a return on equity of 13.34%. The business’s revenue for the quarter was down 6.9% compared to the same quarter last year. During the same period last year, the business posted $2.12 earnings per share. Research analysts predict that KB Home will post 2.63 EPS for the current fiscal year.

The company also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Shareholders of record on Thursday, May 2nd will be issued a $0.025 dividend. The ex-dividend date is Wednesday, May 1st. This represents a $0.10 annualized dividend and a yield of 0.40%. KB Home’s dividend payout ratio (DPR) is presently 35.46%.

Several brokerages recently weighed in on KBH. Credit Suisse Group restated a “sell” rating and issued a $17.00 price objective on shares of KB Home in a report on Thursday, January 10th. Wedbush cut their price objective on shares of KB Home from $23.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, January 10th. Buckingham Research began coverage on shares of KB Home in a report on Friday, January 11th. They issued a “neutral” rating on the stock. ValuEngine lowered shares of KB Home from a “sell” rating to a “strong sell” rating in a report on Thursday, January 10th. Finally, Raymond James lowered shares of KB Home from an “outperform” rating to a “market perform” rating and set a $23.67 price objective on the stock. in a report on Monday, February 25th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have given a buy rating to the company. The stock has a consensus rating of “Hold” and an average target price of $24.92.

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KB Home Company Profile

KB Home operates as a homebuilding company in the United States. It operates in four segments: West Coast, Southwest, Central, and Southeast. The company 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.

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Institutional Ownership by Quarter for KB Home (NYSE:KBH)

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