Retirement Systems of Alabama Sells 3,197 Shares of KB Home (NYSE:KBH)

Retirement Systems of Alabama decreased its holdings in KB Home (NYSE:KBH) by 3.5% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 87,559 shares of the construction company’s stock after selling 3,197 shares during the period. Retirement Systems of Alabama’s holdings in KB Home were worth $7,503,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of the business. FMR LLC lifted its stake in KB Home by 47.9% during the 3rd quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock valued at $463,690,000 after acquiring an additional 1,752,498 shares during the period. State Street Corp lifted its position in KB Home by 1.3% during the third quarter. State Street Corp now owns 3,539,328 shares of the construction company’s stock valued at $303,285,000 after purchasing an additional 45,311 shares during the period. Fisher Asset Management LLC boosted its holdings in KB Home by 3.4% in the third quarter. Fisher Asset Management LLC now owns 2,206,172 shares of the construction company’s stock worth $189,047,000 after purchasing an additional 73,051 shares during the last quarter. Geode Capital Management LLC grew its position in KB Home by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,938,359 shares of the construction company’s stock worth $166,125,000 after purchasing an additional 16,593 shares during the period. Finally, American Century Companies Inc. raised its stake in KB Home by 9.6% during the 2nd quarter. American Century Companies Inc. now owns 1,684,863 shares of the construction company’s stock valued at $118,244,000 after buying an additional 147,326 shares during the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.

KB Home Stock Performance

KBH opened at $70.44 on Wednesday. The stock has a market capitalization of $5.17 billion, a price-to-earnings ratio of 9.03, a PEG ratio of 0.59 and a beta of 1.81. The company has a fifty day moving average of $79.45 and a 200 day moving average of $78.53. KB Home has a fifty-two week low of $58.05 and a fifty-two week high of $89.70.

KB Home (NYSE:KBH) last posted its earnings results on Tuesday, September 24th. The construction company reported $2.04 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). KB Home had a net margin of 9.31% and a return on equity of 15.69%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same quarter in the prior year, the company posted $1.80 earnings per share. The firm’s revenue was up 10.3% compared to the same quarter last year. On average, equities research analysts forecast that KB Home will post 8.42 earnings per share for the current year.

KB Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.42%. The ex-dividend date was Thursday, November 14th. KB Home’s dividend payout ratio (DPR) is 12.82%.

Analyst Upgrades and Downgrades

A number of research firms recently commented on KBH. Royal Bank of Canada cut KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price objective for the company. in a research report on Thursday, September 5th. Wells Fargo & Company lowered their price objective on shares of KB Home from $83.00 to $74.00 and set an “underweight” rating on the stock in a research note on Tuesday. Bank of America boosted their target price on shares of KB Home from $75.00 to $90.00 and gave the company a “neutral” rating in a research report on Thursday, September 19th. Barclays cut shares of KB Home from an “overweight” rating to an “equal weight” rating and reduced their target price for the company from $99.00 to $85.00 in a report on Wednesday, December 11th. Finally, The Goldman Sachs Group lifted their price target on shares of KB Home from $72.00 to $82.00 and gave the stock a “neutral” rating in a research note on Tuesday, September 3rd. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating and three have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $79.17.

Insider Buying and Selling at KB Home

In other news, CFO Jeff Kaminski sold 27,500 shares of the stock in a transaction that occurred on Monday, October 14th. The stock was sold at an average price of $79.40, for a total value of $2,183,500.00. Following the sale, the chief financial officer now directly owns 34,473 shares in the company, valued at approximately $2,737,156.20. This represents a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Company insiders own 4.44% of the company’s stock.

KB Home Company 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.