Comerica Bank reduced its holdings in KB Home (NYSE:KBH) by 2.5% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 53,873 shares of the construction company’s stock after selling 1,403 shares during the period. Comerica Bank’s holdings in KB Home were worth $1,357,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Liberty Wealth Management LLC acquired a new position in KB Home in the fourth quarter valued at approximately $25,000. Meeder Asset Management Inc. lifted its holdings in KB Home by 2,537.0% in the fourth quarter. Meeder Asset Management Inc. now owns 1,424 shares of the construction company’s stock valued at $27,000 after buying an additional 1,370 shares during the period. Financial Architects Inc lifted its holdings in KB Home by 97.8% in the fourth quarter. Financial Architects Inc now owns 1,622 shares of the construction company’s stock valued at $31,000 after buying an additional 802 shares during the period. Oregon Public Employees Retirement Fund lifted its holdings in KB Home by 1,810.0% in the fourth quarter. Oregon Public Employees Retirement Fund now owns 636,622 shares of the construction company’s stock valued at $33,000 after buying an additional 603,291 shares during the period. Finally, Quadrant Capital Group LLC lifted its holdings in KB Home by 2,436.3% in the first quarter. Quadrant Capital Group LLC now owns 2,029 shares of the construction company’s stock valued at $47,000 after buying an additional 1,949 shares during the period. Institutional investors and hedge funds own 89.58% of the company’s stock.
Several research firms have weighed in on KBH. Royal Bank of Canada upgraded shares of KB Home from a “sector perform” rating to an “outperform” rating and increased their target price for the stock from $25.00 to $30.00 in a report on Thursday, May 16th. Barclays upgraded shares of KB Home from an “equal weight” rating to an “overweight” rating and increased their target price for the stock from $24.00 to $29.00 in a report on Monday, May 13th. ValuEngine upgraded shares of KB Home from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. JPMorgan Chase & Co. upgraded shares of KB Home from an “underweight” rating to a “neutral” rating and increased their target price for the stock from $20.50 to $23.00 in a report on Wednesday, April 10th. Finally, Zacks Investment Research lowered shares of KB Home from a “buy” rating to a “hold” rating in a report on Friday, March 29th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and seven have issued a buy rating to the stock. The company presently has an average rating of “Hold” and an average target price of $25.92.
In related news, EVP Brian J. Woram sold 10,000 shares of the firm’s stock in a transaction on Tuesday, May 14th. The shares were sold at an average price of $27.02, for a total transaction of $270,200.00. Following the sale, the executive vice president now directly owns 151,770 shares in the company, valued at $4,100,825.40. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CAO William R. Hollinger sold 68,147 shares of the firm’s stock in a transaction on Monday, May 13th. The stock was sold at an average price of $26.16, for a total transaction of $1,782,725.52. Following the sale, the chief accounting officer now owns 228,174 shares in the company, valued at $5,969,031.84. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 983,838 shares of company stock worth $25,116,916. 7.32% of the stock is currently owned by company insiders.
Shares of NYSE:KBH opened at $25.59 on Friday. KB Home has a 12 month low of $16.82 and a 12 month high of $28.33. 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 firm has a market cap of $2.27 billion, a P/E ratio of 9.62, a P/E/G ratio of 1.20 and a beta of 1.58.
KB Home (NYSE:KBH) last issued its quarterly earnings data on Tuesday, March 26th. The construction company reported $0.31 EPS for the quarter, topping analysts’ consensus estimates of $0.25 by $0.06. KB Home had a net margin of 6.05% and a return on equity of 13.34%. The business had revenue of $811.50 million for the quarter, compared to analyst estimates of $828.56 million. During the same period last year, the business posted $2.12 earnings per share. The firm’s quarterly revenue was down 6.9% on a year-over-year basis. Research analysts predict that KB Home will post 2.63 earnings per share for the current fiscal year.
The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Thursday, May 2nd were issued a dividend of $0.025 per share. The ex-dividend date was Wednesday, May 1st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.39%. KB Home’s payout ratio is 3.55%.
About KB Home
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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