CANADA LIFE ASSURANCE Co Sells 5,108 Shares of KB Home (NYSE:KBH)

CANADA LIFE ASSURANCE Co lessened its holdings in shares of KB Home (NYSE:KBH) by 6.2% in the fourth quarter, Holdings Channel.com reports. The firm owned 77,014 shares of the construction company’s stock after selling 5,108 shares during the period. CANADA LIFE ASSURANCE Co’s holdings in KB Home were worth $5,059,000 as of its most recent filing with the Securities & Exchange Commission.

Other large investors have also recently modified their holdings of the company. Norges Bank bought a new position in KB Home in the 4th quarter worth approximately $49,638,000. Hennessy Advisors Inc. bought a new position in shares of KB Home in the fourth quarter worth $44,118,000. Raymond James Financial Inc. bought a new stake in shares of KB Home during the 4th quarter valued at $12,288,000. Quantbot Technologies LP lifted its holdings in KB Home by 4,083.5% during the 4th quarter. Quantbot Technologies LP now owns 146,422 shares of the construction company’s stock worth $9,623,000 after purchasing an additional 142,922 shares in the last quarter. Finally, JPMorgan Chase & Co. lifted its holdings in KB Home by 24.4% during the 4th quarter. JPMorgan Chase & Co. now owns 727,809 shares of the construction company’s stock worth $47,832,000 after purchasing an additional 142,913 shares in the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Analysts Set New Price Targets

KBH has been the topic of a number of recent analyst reports. Barclays lowered their price target on shares of KB Home from $60.00 to $56.00 and set an “equal weight” rating on the stock in a report on Tuesday, March 25th. 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 research note on Friday, March 7th. Raymond James reissued an “outperform” rating and set a $80.00 price objective (down previously from $93.00) on shares of KB Home in a report on Tuesday, January 21st. Wells Fargo & Company cut their price target on shares of KB Home from $57.00 to $55.00 and set an “underweight” rating for the company in a research note on Monday, April 14th. Finally, UBS Group lowered their price objective on shares of KB Home from $97.00 to $86.00 and set a “buy” rating on the stock in a research report on Tuesday, March 25th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $71.04.

KB Home Stock Down 0.4 %

KBH opened at $53.46 on Thursday. The company has a market cap of $3.83 billion, a P/E ratio of 6.31, a P/E/G ratio of 0.90 and a beta of 1.65. KB Home has a 12 month low of $48.90 and a 12 month high of $89.70. The business’s 50-day moving average price is $58.27 and its 200-day moving average price is $68.22. The company has a current ratio of 5.51, a quick ratio of 0.83 and a debt-to-equity ratio of 0.42.

KB Home (NYSE:KBH) last announced its quarterly earnings data on Monday, March 24th. The construction company reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.07). KB Home had a net margin of 9.45% and a return on equity of 16.46%. The company had revenue of $1.39 billion during the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the firm posted $1.76 EPS. The business’s revenue for the quarter was down 5.2% compared to the same quarter last year. On average, equities analysts expect that KB Home will post 8.42 EPS for the current year.

KB Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th will be paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a dividend yield of 1.87%. The ex-dividend date is Thursday, May 8th. KB Home’s dividend payout ratio (DPR) is 12.20%.

Insider Transactions at KB Home

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the 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 completion of the sale, the chief financial officer now owns 34,473 shares in the company, valued at approximately $2,370,708.21. This trade represents a 44.37 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 3.89% of the stock is currently owned by company insiders.

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.