KB Home (NYSE:KBH) Shares Sold by Vestcor Inc

Vestcor Inc lowered its stake in KB Home (NYSE:KBH) by 19.8% in the fourth quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 11,383 shares of the construction company’s stock after selling 2,817 shares during the quarter. Vestcor Inc’s holdings in KB Home were worth $748,000 as of its most recent filing with the SEC.

A number of other large investors have also modified their holdings of the stock. FMR LLC grew its stake in shares of KB Home by 47.9% in the third quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock valued at $463,690,000 after buying an additional 1,752,498 shares in the last quarter. State Street Corp grew its stake in shares of KB Home by 1.3% in the third quarter. State Street Corp now owns 3,539,328 shares of the construction company’s stock valued at $303,285,000 after buying an additional 45,311 shares in the last quarter. Fisher Asset Management LLC boosted its holdings in KB Home by 3.4% in the fourth quarter. Fisher Asset Management LLC now owns 2,281,315 shares of the construction company’s stock valued at $149,928,000 after purchasing an additional 75,143 shares during the last quarter. Geode Capital Management LLC boosted its holdings in KB Home by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,938,359 shares of the construction company’s stock valued at $166,125,000 after purchasing an additional 16,593 shares during the last quarter. Finally, Holocene Advisors LP purchased a new position in KB Home in the third quarter valued at about $89,899,000. Institutional investors and hedge funds own 96.09% of the company’s stock.

Insider Buying and Selling

In related news, CFO Jeff Kaminski sold 27,500 shares of the firm’s stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $68.77, for a total value of $1,891,175.00. Following the sale, the chief financial officer now directly owns 34,473 shares in the company, valued at $2,370,708.21. This trade represents a 44.37 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 4.44% of the company’s stock.

KB Home Trading Up 1.2 %

Shares of NYSE KBH opened at $60.59 on Monday. The company has a market cap of $4.33 billion, a price-to-earnings ratio of 7.15, a price-to-earnings-growth ratio of 0.90 and a beta of 1.89. KB Home has a 12-month low of $59.00 and a 12-month high of $89.70. The company has a current ratio of 5.51, a quick ratio of 0.83 and a debt-to-equity ratio of 0.42. The stock’s 50 day simple moving average is $64.62 and its 200 day simple moving average is $73.84.

KB Home (NYSE:KBH) last announced its quarterly earnings results on Monday, January 13th. The construction company reported $2.52 earnings per share (EPS) for the quarter, topping the consensus estimate of $2.44 by $0.08. The business had revenue of $2 billion for the quarter, compared to the consensus estimate of $1.99 billion. KB Home had a return on equity of 16.46% and a net margin of 9.45%. The business’s revenue was up 19.5% on a year-over-year basis. During the same quarter last year, the business posted $1.85 EPS. Equities research analysts expect that KB Home will post 8.42 EPS for the current year.

KB Home Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a dividend yield of 1.65%. The ex-dividend date of this dividend was Thursday, February 6th. KB Home’s dividend payout ratio (DPR) is 11.81%.

Analysts Set New Price Targets

A number of brokerages recently commented on KBH. Royal Bank of Canada raised KB Home from an “underperform” rating to a “sector perform” rating and reduced their price target for the company from $70.00 to $67.00 in a report on Friday, January 10th. Raymond James reissued an “outperform” rating and issued a $80.00 price target (down previously from $93.00) on shares of KB Home in a report on Tuesday, January 21st. UBS Group reduced their price target on KB Home from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. JPMorgan Chase & Co. reduced their price target on KB Home from $82.00 to $74.50 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Finally, Seaport Res Ptn raised KB Home from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $75.21.

KB Home Profile

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.