KB Home (KBH) Holdings Cut by Arizona State Retirement System

Arizona State Retirement System lessened its stake in shares of KB Home (NYSE:KBH) by 1.8% during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 60,764 shares of the construction company’s stock after selling 1,101 shares during the period. Arizona State Retirement System’s holdings in KB Home were worth $1,469,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Liberty Wealth Management LLC acquired a new stake in KB Home during the 4th quarter worth about $25,000. Meeder Asset Management Inc. raised its holdings in KB Home by 2,537.0% during the 4th quarter. Meeder Asset Management Inc. now owns 1,424 shares of the construction company’s stock worth $27,000 after buying an additional 1,370 shares during the period. Financial Architects Inc raised its holdings in KB Home by 97.8% during the 4th quarter. Financial Architects Inc now owns 1,622 shares of the construction company’s stock worth $31,000 after buying an additional 802 shares during the period. Oregon Public Employees Retirement Fund raised its holdings in KB Home by 1,810.0% during the 4th quarter. Oregon Public Employees Retirement Fund now owns 636,622 shares of the construction company’s stock worth $33,000 after buying an additional 603,291 shares during the period. Finally, Quadrant Capital Group LLC raised its holdings in KB Home by 2,436.3% during the 1st quarter. Quadrant Capital Group LLC now owns 2,029 shares of the construction company’s stock worth $47,000 after buying an additional 1,949 shares during the period. Hedge funds and other institutional investors own 86.63% of the company’s stock.

KBH has been the topic of several recent analyst reports. Wedbush restated a “neutral” rating and set a $22.00 price objective on shares of KB Home in a report on Thursday, March 21st. Credit Suisse Group restated a “sell” rating and set a $17.00 price objective on shares of KB Home in a report on Friday, February 15th. JPMorgan Chase & Co. upgraded KB Home from an “underweight” rating to a “neutral” rating and upped their target price for the company from $20.50 to $23.00 in a report on Wednesday, April 10th. Raymond James downgraded KB Home from an “outperform” rating to a “market perform” rating and set a $23.67 target price on the stock. in a report on Monday, February 25th. Finally, Buckingham Research upped their target price on KB Home from $24.00 to $27.00 and gave the company a “neutral” rating in a report on Wednesday, March 27th. Two investment analysts have rated the stock with a sell rating, twelve have assigned a hold rating and six have given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $25.48.

In related news, EVP Albert Z. Praw sold 233,176 shares of the business’s stock in a transaction that occurred on Thursday, April 18th. The stock was sold at an average price of $25.71, for a total value of $5,994,954.96. Following the completion of the sale, the executive vice president now owns 172,660 shares of the company’s stock, valued at approximately $4,439,088.60. The sale was disclosed in a document filed with the SEC, which is available at this link. Also, insider Jeffrey T. Mezger sold 489,258 shares of the business’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $25.37, for a total value of $12,412,475.46. Following the completion of the sale, the insider now directly owns 1,056,532 shares of the company’s stock, valued at approximately $26,804,216.84. The disclosure for this sale can be found here. Insiders sold a total of 905,691 shares of company stock worth $23,063,991 in the last quarter. 7.32% of the stock is owned by corporate insiders.

Shares of KBH opened at $26.89 on Wednesday. The stock has a market capitalization of $2.25 billion, a PE ratio of 9.54, a price-to-earnings-growth ratio of 1.19 and a beta of 1.58. KB Home has a fifty-two week low of $16.82 and a fifty-two week high of $28.33. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.98 and a current ratio of 5.37.

KB Home (NYSE:KBH) last issued its earnings results on Tuesday, March 26th. The construction company reported $0.31 earnings per share for the quarter, beating analysts’ consensus estimates of $0.25 by $0.06. The company had revenue of $811.50 million for the quarter, compared to the consensus estimate of $828.56 million. KB Home had a return on equity of 13.34% and a net margin of 6.05%. The firm’s quarterly revenue was down 6.9% on a year-over-year basis. During the same quarter in the prior year, the company earned $2.12 EPS. On average, sell-side analysts expect that KB Home will post 2.63 EPS for the current fiscal year.

The firm also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Stockholders of record on Thursday, May 2nd will be issued a $0.025 dividend. The ex-dividend date of this dividend is Wednesday, May 1st. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.37%. KB Home’s dividend payout ratio is 3.55%.

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KB Home 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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