KB Home (NYSE:KBH) Shares Sold by Arrowstreet Capital Limited Partnership

Arrowstreet Capital Limited Partnership decreased its holdings in shares of KB Home (NYSE:KBH) by 44.2% in the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 910,033 shares of the construction company’s stock after selling 719,957 shares during the quarter. Arrowstreet Capital Limited Partnership owned about 1.26% of KB Home worth $59,807,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the business. New Age Alpha Advisors LLC purchased a new position in KB Home in the 4th quarter worth approximately $350,000. Norges Bank acquired a new position in shares of KB Home during the 4th quarter valued at about $49,638,000. Caisse Des Depots ET Consignations purchased a new stake in shares of KB Home in the fourth quarter valued at about $2,484,000. Homestead Advisers Corp increased its position in KB Home by 11.4% during the fourth quarter. Homestead Advisers Corp now owns 30,300 shares of the construction company’s stock worth $1,991,000 after purchasing an additional 3,100 shares during the last quarter. Finally, JPMorgan Chase & Co. boosted its holdings in KB Home by 24.4% in the 4th quarter. JPMorgan Chase & Co. now owns 727,809 shares of the construction company’s stock valued at $47,832,000 after purchasing an additional 142,913 shares during the last quarter. 96.09% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

A number of research analysts recently commented on the company. Royal Bank of Canada decreased their price objective on KB Home from $67.00 to $63.00 and set a “sector perform” rating on the stock in a report on Tuesday, March 25th. Wells Fargo & Company cut their price objective on KB Home from $63.00 to $57.00 and set an “underweight” rating for the company in a research report on Tuesday, March 25th. 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. The Goldman Sachs Group reduced their price target on shares of KB Home from $81.00 to $72.00 and set a “neutral” rating on the stock in a research note on Friday, March 7th. Finally, JPMorgan Chase & Co. dropped their target price on shares of KB Home from $82.00 to $74.50 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Three 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 given a strong buy rating to the company. Based on data from MarketBeat, KB Home presently has a consensus rating of “Hold” and a consensus price target of $71.21.

Insider Buying and Selling

In other 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 directly owns 34,473 shares of the company’s stock, valued at approximately $2,370,708.21. This represents a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.89% of the stock is currently owned by company insiders.

KB Home Stock Performance

Shares of KB Home stock opened at $58.32 on Wednesday. The firm has a market capitalization of $4.17 billion, a P/E ratio of 6.89, a P/E/G 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 has a 52 week low of $56.41 and a 52 week high of $89.70. The firm’s 50 day moving average is $63.06 and its two-hundred day moving average is $71.99.

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

KB Home Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were given a $0.25 dividend. The ex-dividend date was Thursday, February 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.71%. KB Home’s dividend payout ratio (DPR) is presently 12.20%.

KB Home 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.