Teacher Retirement System of Texas Sells 8,549 Shares of KB Home (NYSE:KBH)

Teacher Retirement System of Texas lessened its holdings in KB Home (NYSE:KBH) by 17.5% during the fourth quarter, HoldingsChannel.com reports. The firm owned 40,350 shares of the construction company’s stock after selling 8,549 shares during the period. Teacher Retirement System of Texas’ holdings in KB Home were worth $2,652,000 as of its most recent SEC filing.

A number of other hedge funds have also added to or reduced their stakes in the business. Jones Financial Companies Lllp lifted its position in KB Home by 65.6% during the 4th quarter. Jones Financial Companies Lllp now owns 540 shares of the construction company’s stock worth $36,000 after buying an additional 214 shares in the last quarter. Principal Securities Inc. boosted its position in KB Home by 43.6% during the fourth quarter. Principal Securities Inc. now owns 590 shares of the construction company’s stock valued at $39,000 after purchasing an additional 179 shares during the last quarter. Versant Capital Management Inc grew its stake in KB Home by 275.7% in the fourth quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock valued at $50,000 after purchasing an additional 557 shares in the last quarter. Amundi raised its stake in shares of KB Home by 29.6% during the 4th quarter. Amundi now owns 880 shares of the construction company’s stock worth $58,000 after purchasing an additional 201 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in shares of KB Home in the 3rd quarter valued at approximately $59,000. Institutional investors own 96.09% of the company’s stock.

KB Home Stock Performance

Shares of NYSE:KBH opened at $58.56 on Wednesday. KB Home has a 12-month low of $56.41 and a 12-month high of $89.70. The company’s 50 day moving average price is $63.99 and its two-hundred day moving average price is $72.81. The firm has a market cap of $4.18 billion, a PE ratio of 6.91, a PEG ratio of 0.90 and a beta of 1.89. The company has a quick ratio of 0.83, a current ratio of 5.51 and a debt-to-equity ratio of 0.42.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Monday, March 24th. The construction company reported $1.49 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.07). The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.51 billion. KB Home had a return on equity of 16.46% and a net margin of 9.45%. KB Home’s revenue was down 5.2% on a year-over-year basis. During the same quarter last year, the business earned $1.76 EPS. Equities research analysts predict 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 Thursday, February 20th. Investors of record on Thursday, February 6th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $1.00 annualized dividend and a yield of 1.71%. KB Home’s dividend payout ratio is 11.81%.

Insiders Place Their Bets

In other news, CFO Jeff Kaminski sold 27,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $68.77, for a total transaction of $1,891,175.00. Following the completion of the sale, the chief financial officer now owns 34,473 shares of the company’s stock, valued at approximately $2,370,708.21. This represents a 44.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Corporate insiders own 3.89% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on the stock. Wells Fargo & Company dropped their price target on shares of KB Home from $63.00 to $57.00 and set an “underweight” rating on the stock in a research report on Tuesday. Barclays cut their target price on shares of KB Home from $60.00 to $56.00 and set an “equal weight” rating for the company in a research note on Tuesday. Raymond James reissued an “outperform” rating and set a $80.00 price target (down previously from $93.00) on shares of KB Home in a research report on Tuesday, January 21st. UBS Group cut their price objective on KB Home from $97.00 to $86.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, The Goldman Sachs Group decreased their target price on KB Home from $81.00 to $72.00 and set a “neutral” rating on the stock in a report on Friday, March 7th. Two investment analysts have rated the stock with a sell rating, eight have issued a hold rating, three have issued a buy rating and one has given a strong buy rating to the company. Based on data from MarketBeat, KB Home has a consensus rating of “Hold” and a consensus price target of $72.13.

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.