Vanguard Group Inc. Sells 312,165 Shares of KB Home $KBH
by Doug Wharley · The Cerbat GemVanguard Group Inc. decreased its holdings in shares of KB Home (NYSE:KBH – Free Report) by 5.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 5,768,588 shares of the construction company’s stock after selling 312,165 shares during the period. Vanguard Group Inc. owned about 9.13% of KB Home worth $325,406,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in KBH. First Horizon Corp lifted its stake in KB Home by 178.9% during the fourth quarter. First Horizon Corp now owns 502 shares of the construction company’s stock worth $28,000 after purchasing an additional 322 shares during the period. Fulcrum Asset Management LLP bought a new position in KB Home during the third quarter worth about $36,000. Aventura Private Wealth LLC bought a new position in KB Home during the fourth quarter worth about $46,000. Jones Financial Companies Lllp lifted its stake in KB Home by 44.4% during the third quarter. Jones Financial Companies Lllp now owns 781 shares of the construction company’s stock worth $49,000 after purchasing an additional 240 shares during the period. Finally, SBI Securities Co. Ltd. lifted its stake in KB Home by 2,848.4% during the third quarter. SBI Securities Co. Ltd. now owns 914 shares of the construction company’s stock worth $58,000 after purchasing an additional 883 shares during the period. Institutional investors own 96.09% of the company’s stock.
KB Home Stock Down 0.9%
Shares of NYSE:KBH opened at $49.22 on Friday. KB Home has a 12 month low of $47.95 and a 12 month high of $68.71. The company’s 50-day moving average price is $54.03 and its two-hundred day moving average price is $58.73. The firm has a market cap of $3.08 billion, a P/E ratio of 12.49, a P/E/G ratio of 8.77 and a beta of 1.42.
KB Home (NYSE:KBH – Get Free Report) last posted its quarterly earnings data on Tuesday, March 24th. The construction company reported $0.52 earnings per share for the quarter, hitting the consensus estimate of $0.52. KB Home had a net margin of 5.96% and a return on equity of 9.63%. The firm had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same quarter in the previous year, the company posted $1.49 EPS. KB Home’s revenue was down 22.6% on a year-over-year basis. As a group, equities analysts predict that KB Home will post 3.1 earnings per share for the current fiscal year.
KB Home Announces Dividend
The business also recently disclosed a quarterly dividend, which will be paid on Thursday, May 21st. Investors of record on Thursday, May 7th will be given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 2.0%. The ex-dividend date is Thursday, May 7th. KB Home’s payout ratio is 25.38%.
Analyst Ratings Changes
A number of brokerages have commented on KBH. The Goldman Sachs Group cut their price target on shares of KB Home from $65.00 to $56.00 and set a “neutral” rating for the company in a research note on Wednesday, March 25th. Wells Fargo & Company cut their price target on shares of KB Home from $55.00 to $50.00 and set an “underweight” rating for the company in a research note on Wednesday, March 25th. Citizens Jmp assumed coverage on shares of KB Home in a research note on Tuesday, March 24th. They issued an “outperform” rating and a $77.00 target price for the company. Weiss Ratings restated a “hold (c+)” rating on shares of KB Home in a research report on Thursday, January 22nd. Finally, Seaport Research Partners reiterated a “sell” rating and issued a $43.00 price objective (down from $65.00) on shares of KB Home in a research report on Tuesday, April 7th. Three analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $59.17.
View Our Latest Stock Analysis on KB Home
About KB Home
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.