Wedge Capital Management L L P NC Cuts Position in KB Home (NYSE:KBH)

Wedge Capital Management L L P NC trimmed its stake in KB Home (NYSE:KBH) by 94.0% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 42,285 shares of the construction company’s stock after selling 657,383 shares during the period. Wedge Capital Management L L P NC’s holdings in KB Home were worth $2,458,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Jones Financial Companies Lllp raised its holdings in KB Home by 65.6% in the fourth quarter. Jones Financial Companies Lllp now owns 540 shares of the construction company’s stock worth $36,000 after purchasing an additional 214 shares in the last quarter. Principal Securities Inc. boosted its holdings in shares of KB Home by 43.6% in the 4th quarter. Principal Securities Inc. now owns 590 shares of the construction company’s stock valued at $39,000 after buying an additional 179 shares in the last quarter. UMB Bank n.a. grew its position in shares of KB Home by 1,256.9% in the 1st quarter. UMB Bank n.a. now owns 977 shares of the construction company’s stock worth $57,000 after buying an additional 905 shares during 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 acquiring an additional 201 shares in the last quarter. Finally, Headlands Technologies LLC raised its stake in shares of KB Home by 1,409.1% during the 4th quarter. Headlands Technologies LLC now owns 996 shares of the construction company’s stock worth $65,000 after acquiring an additional 930 shares in the last quarter. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on KBH. Bank of America lowered their target price on shares of KB Home from $67.00 to $62.00 and set a “neutral” rating for the company in a research note on Tuesday, March 25th. Barclays lowered their price objective on KB Home from $60.00 to $56.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 25th. Wells Fargo & Company reduced their target price on KB Home from $55.00 to $53.00 and set an “underweight” rating on the stock in a research report on Tuesday, June 3rd. Seaport Res Ptn raised KB Home from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Finally, Wedbush restated a “neutral” rating and set a $75.00 price target on shares of KB Home in a research note on Tuesday, March 25th. Two equities research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the company’s stock. Based on data from MarketBeat, KB Home has a consensus rating of “Hold” and an average target price of $71.05.

Insiders Place Their Bets

In other news, Director Arthur Reginald Collins sold 5,000 shares of the business’s stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $54.38, for a total value of $271,900.00. Following the completion of the transaction, the director now owns 10,262 shares of the company’s stock, valued at $558,047.56. The trade was a 32.76% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. 3.89% of the stock is owned by insiders.

KB Home Price Performance

Shares of NYSE KBH opened at $52.93 on Tuesday. KB Home has a 52 week low of $48.90 and a 52 week high of $89.70. The business’s 50 day moving average price is $53.05 and its 200 day moving average price is $61.90. The company has a quick ratio of 0.83, a current ratio of 5.51 and a debt-to-equity ratio of 0.42. The firm has a market cap of $3.80 billion, a P/E ratio of 6.25, a P/E/G ratio of 0.90 and a beta of 1.35.

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

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.00 dividend on an annualized basis and a yield of 1.89%. KB Home’s dividend payout ratio is presently 12.20%.

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.