KLP Kapitalforvaltning AS Takes $5.31 Million Position in KB Home (NYSE:KBH)

KLP Kapitalforvaltning AS purchased a new stake in shares of KB Home (NYSE:KBH) during the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor purchased 80,800 shares of the construction company’s stock, valued at approximately $5,310,000. KLP Kapitalforvaltning AS owned about 0.11% of KB Home at the end of the most recent reporting period.

A number of other institutional investors also recently modified their holdings of KBH. Barclays PLC lifted its stake in KB Home by 24.5% during the third quarter. Barclays PLC now owns 196,229 shares of the construction company’s stock worth $16,816,000 after purchasing an additional 38,638 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of KB Home by 22.1% during the third quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company’s stock valued at $77,655,000 after acquiring an additional 164,010 shares in the last quarter. Neo Ivy Capital Management purchased a new stake in shares of KB Home in the 3rd quarter worth about $956,000. Blue Trust Inc. lifted its holdings in KB Home by 35.9% in the fourth quarter. Blue Trust Inc. now owns 1,727 shares of the construction company’s stock worth $113,000 after buying an additional 456 shares during the period. Finally, Cerity Partners LLC boosted its position in shares of KB Home by 24.7% during the third quarter. Cerity Partners LLC now owns 38,742 shares of the construction company’s stock valued at $3,320,000 after purchasing an additional 7,679 shares in the last quarter. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

KBH has been the topic of several analyst reports. Bank of America dropped their target price on KB Home from $67.00 to $62.00 and set a “neutral” rating on the stock in a report on Tuesday. UBS Group decreased their price target on KB Home from $97.00 to $86.00 and set a “buy” rating for the company in a research note on Tuesday. Royal Bank of Canada dropped their price target on shares of KB Home from $67.00 to $63.00 and set a “sector perform” rating on the stock in a report on Tuesday. Wedbush reissued a “neutral” rating and set a $75.00 price objective on shares of KB Home in a report on Tuesday. Finally, JPMorgan Chase & Co. lowered their price target on KB Home from $82.00 to $74.50 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and an average target price of $72.13.

KB Home Stock Down 5.2 %

KBH opened at $58.56 on Wednesday. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.83 and a current ratio of 5.51. KB Home has a fifty-two week low of $56.41 and a fifty-two week high of $89.70. The firm’s fifty day moving average is $63.99 and its 200 day moving average is $72.81. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 6.91, a price-to-earnings-growth ratio of 0.90 and a beta of 1.89.

KB Home (NYSE:KBH) last issued its quarterly earnings data on Monday, March 24th. The construction company reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.07). KB Home had a return on equity of 16.46% and a net margin of 9.45%. The firm had revenue of $1.39 billion for the quarter, compared to analysts’ expectations of $1.51 billion. During the same period last year, the company earned $1.76 earnings per share. The firm’s revenue was down 5.2% on a year-over-year basis. On average, sell-side analysts forecast that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.71%. KB Home’s payout ratio is currently 11.81%.

Insider Activity

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the business’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 transaction of $1,891,175.00. Following the sale, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at $2,370,708.21. The trade was a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. Corporate insiders own 3.89% of the company’s stock.

About KB Home

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.