Systematic Financial Management LP lessened its holdings in shares of KB Home (NYSE:KBH – Free Report) by 3.2% in the first quarter, HoldingsChannel reports. The fund owned 471,093 shares of the construction company’s stock after selling 15,478 shares during the period. Systematic Financial Management LP’s holdings in KB Home were worth $24,379,000 as of its most recent filing with the SEC.
Other institutional investors and hedge funds also recently modified their holdings of the company. Vista Investment Management raised its stake in shares of KB Home by 3.5% during the fourth quarter. Vista Investment Management now owns 5,117 shares of the construction company’s stock valued at $289,000 after purchasing an additional 175 shares in the last quarter. Bessemer Group Inc. lifted its holdings in KB Home by 80.0% in the first quarter. Bessemer Group Inc. now owns 495 shares of the construction company’s stock worth $26,000 after purchasing an additional 220 shares during the period. Parkside Financial Bank & Trust grew its position in KB Home by 73.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 592 shares of the construction company’s stock valued at $33,000 after buying an additional 250 shares in the last quarter. Nebula Research & Development LLC grew its position in KB Home by 6.3% in the 2nd quarter. Nebula Research & Development LLC now owns 4,402 shares of the construction company’s stock valued at $233,000 after buying an additional 262 shares in the last quarter. Finally, Envestnet Asset Management Inc. increased its stake in KB Home by 5.5% during the 3rd quarter. Envestnet Asset Management Inc. now owns 5,299 shares of the construction company’s stock valued at $337,000 after buying an additional 274 shares during the period. Institutional investors own 96.09% of the company’s stock.
Analysts Set New Price Targets
A number of research firms have commented on KBH. Weiss Ratings upgraded shares of KB Home from a “sell (d+)” rating to a “hold (c-)” rating in a research report on Monday, July 13th. Citizens Jmp reiterated a “market outperform” rating and issued a $77.00 price objective on shares of KB Home in a report on Wednesday, June 24th. Citigroup reiterated a “market outperform” rating on shares of KB Home in a report on Wednesday, June 17th. Seaport Research Partners reiterated a “sell” rating and set a $43.00 price objective (down from $65.00) on shares of KB Home in a research note on Tuesday, April 7th. Finally, Wall Street Zen raised KB Home from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Four analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, KB Home has an average rating of “Hold” and an average price target of $60.17.
KB Home Stock Down 1.6%
Shares of KBH stock opened at $55.59 on Friday. The stock has a 50-day simple moving average of $54.09 and a 200 day simple moving average of $55.71. The stock has a market capitalization of $3.41 billion, a P/E ratio of 19.37, a P/E/G ratio of 9.36 and a beta of 1.34. KB Home has a fifty-two week low of $44.03 and a fifty-two week high of $68.71.
KB Home (NYSE:KBH – Get Free Report) last issued its quarterly earnings results on Tuesday, June 23rd. The construction company reported $0.43 earnings per share for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). KB Home had a net margin of 4.94% and a return on equity of 7.67%. The business had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.09 billion. During the same period in the previous year, the company posted $1.50 earnings per share. KB Home’s revenue was down 27.3% compared to the same quarter last year. On average, sell-side analysts anticipate that KB Home will post 3.3 earnings per share for the current year.
KB Home Announces Dividend
The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.8%. The ex-dividend date is Thursday, August 6th. KB Home’s payout ratio is presently 34.84%.
KB Home Company Profile
KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.
At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.
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