Aperio Group LLC trimmed its stake in shares of KB Home (NYSE:KBH) by 13.0% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 188,648 shares of the construction company’s stock after selling 28,268 shares during the period. Aperio Group LLC owned about 0.22% of KB Home worth $6,027,000 as of its most recent SEC filing.
Other hedge funds and other institutional investors also recently made changes to their positions in the company. Vanguard Group Inc. increased its position in KB Home by 7.7% in the 2nd quarter. Vanguard Group Inc. now owns 6,884,880 shares of the construction company’s stock worth $165,031,000 after purchasing an additional 492,594 shares during the last quarter. State Street Corp increased its holdings in shares of KB Home by 3.2% during the 2nd quarter. State Street Corp now owns 2,665,501 shares of the construction company’s stock valued at $63,890,000 after acquiring an additional 83,179 shares during the last quarter. Northern Trust Corp increased its holdings in shares of KB Home by 1.9% during the 2nd quarter. Northern Trust Corp now owns 1,337,380 shares of the construction company’s stock valued at $32,058,000 after acquiring an additional 25,523 shares during the last quarter. Hennessy Advisors Inc. acquired a new position in shares of KB Home during the 4th quarter valued at about $34,238,000. Finally, Acadian Asset Management LLC acquired a new position in shares of KB Home during the 4th quarter valued at about $29,512,000. 94.69% of the stock is owned by institutional investors and hedge funds.
In other news, CFO Jeff Kaminski sold 125,000 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $32.53, for a total value of $4,066,250.00. Following the sale, the chief financial officer now directly owns 237,775 shares in the company, valued at $7,734,820.75. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, SVP Thomas F. Norton sold 47,179 shares of the business’s stock in a transaction dated 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 completion of the sale, the senior vice president now owns 103,562 shares in the company, valued at $3,139,999.84. The disclosure for this sale can be found here. Insiders own 8.60% of the company’s stock.
A number of research analysts have recently commented on KBH shares. JPMorgan Chase & Co. reissued an “underweight” rating and set a $27.00 price objective (up previously from $25.50) on shares of KB Home in a report on Tuesday, December 19th. Keefe, Bruyette & Woods reaffirmed a “hold” rating and issued a $33.00 target price on shares of KB Home in a report on Friday, December 22nd. Buckingham Research lowered KB Home from a “neutral” rating to an “underperform” rating and raised their target price for the company from $28.00 to $34.00 in a report on Friday, January 12th. They noted that the move was a valuation call. Royal Bank of Canada raised their price objective on KB Home to $40.00 and gave the stock a “sector perform” rating in a research report on Monday, January 15th. Finally, Credit Suisse Group reiterated a “neutral” rating and issued a $38.00 price objective (up previously from $31.00) on shares of KB Home in a research report on Monday, January 22nd. They noted that the move was a valuation call. Six research analysts have rated the stock with a sell rating, eleven have given a hold rating, one has issued a buy rating and two have issued a strong buy rating to the stock. The company currently has a consensus rating of “Hold” and an average price target of $29.07.
Shares of KB Home (KBH) traded up $0.75 during trading on Wednesday, hitting $31.49. The company had a trading volume of 396,770 shares, compared to its average volume of 3,070,603. The company has a current ratio of 5.36, a quick ratio of 1.22 and a debt-to-equity ratio of 1.21. KB Home has a twelve month low of $16.68 and a twelve month high of $38.80. The firm has a market capitalization of $2,754.21, a PE ratio of 17.29, a PEG ratio of 0.80 and a beta of 1.48.
KB Home (NYSE:KBH) last announced its quarterly earnings data on Wednesday, January 10th. The construction company reported $0.84 EPS for the quarter, topping analysts’ consensus estimates of $0.77 by $0.07. The business had revenue of $1.40 billion during the quarter, compared to analysts’ expectations of $1.36 billion. KB Home had a return on equity of 9.93% and a net margin of 4.13%. The firm’s quarterly revenue was up 17.7% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.40 earnings per share. research analysts predict that KB Home will post 2.61 earnings per share for the current fiscal year.
The firm also recently announced a quarterly dividend, which will be paid on Thursday, February 22nd. Shareholders of record on Thursday, February 8th will be issued a dividend of $0.025 per share. The ex-dividend date is Wednesday, February 7th. This represents a $0.10 annualized dividend and a yield of 0.32%. KB Home’s dividend payout ratio is presently 5.46%.
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About KB Home
KB HOME is a homebuilding company. The Company is engaged in selling and building a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes. It operates through five segments, which consist of four homebuilding segments and one financial services segment.
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