State of Alaska Department of Revenue Sells 1,030 Shares of KB Home (NYSE:KBH)

State of Alaska Department of Revenue reduced its position in shares of KB Home (NYSE:KBH) by 11.1% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 8,270 shares of the construction company’s stock after selling 1,030 shares during the quarter. State of Alaska Department of Revenue’s holdings in KB Home were worth $516,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Caprock Group LLC bought a new stake in KB Home during the fourth quarter valued at approximately $273,000. Assenagon Asset Management S.A. raised its holdings in KB Home by 123.6% in the 4th quarter. Assenagon Asset Management S.A. now owns 201,682 shares of the construction company’s stock worth $12,597,000 after purchasing an additional 111,474 shares during the period. Pacer Advisors Inc. lifted its position in KB Home by 58.9% during the fourth quarter. Pacer Advisors Inc. now owns 14,878 shares of the construction company’s stock valued at $929,000 after purchasing an additional 5,513 shares in the last quarter. Raymond James Financial Services Advisors Inc. grew its holdings in KB Home by 1.2% during the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 133,538 shares of the construction company’s stock valued at $8,341,000 after purchasing an additional 1,590 shares during the period. Finally, CoreCap Advisors LLC purchased a new stake in KB Home in the fourth quarter worth about $320,000. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Wall Street Analysts Forecast Growth

KBH has been the subject of a number of recent research reports. JPMorgan Chase & Co. boosted their price objective on KB Home from $68.50 to $70.50 and gave the company a “neutral” rating in a research note on Wednesday, March 27th. Keefe, Bruyette & Woods raised their price objective on shares of KB Home from $67.00 to $77.00 and gave the company a “market perform” rating in a research report on Thursday, March 28th. UBS Group upped their target price on shares of KB Home from $82.00 to $87.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Wedbush raised their price target on KB Home from $60.00 to $64.00 and gave the company a “neutral” rating in a report on Thursday, March 21st. Finally, Evercore ISI dropped their price objective on KB Home from $82.00 to $78.00 and set an “outperform” rating for the company in a research note on Thursday, March 21st. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, KB Home presently has an average rating of “Hold” and a consensus price target of $66.11.

KB Home Trading Down 1.1 %

Shares of KBH opened at $64.09 on Friday. The firm has a fifty day moving average price of $65.78 and a 200-day moving average price of $57.99. The firm has a market capitalization of $4.86 billion, a P/E ratio of 8.72, a P/E/G ratio of 0.72 and a beta of 1.73. KB Home has a 12-month low of $38.65 and a 12-month high of $72.00.

KB Home (NYSE:KBH) last released its quarterly earnings data on Wednesday, March 20th. The construction company reported $1.76 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.57 by $0.19. The company had revenue of $1.47 billion during the quarter, compared to analysts’ expectations of $1.46 billion. KB Home had a net margin of 9.29% and a return on equity of 15.78%. The firm’s quarterly revenue was up 6.5% on a year-over-year basis. During the same period in the previous year, the company earned $1.45 EPS. Analysts predict that KB Home will post 8.01 earnings per share for the current year.

KB Home Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 22nd. Investors of record on Thursday, February 8th were paid a $0.20 dividend. The ex-dividend date of this dividend was Wednesday, February 7th. This represents a $0.80 annualized dividend and a yield of 1.25%. KB Home’s dividend payout ratio (DPR) is currently 10.88%.

Insiders Place Their Bets

In other news, EVP Brian J. Woram sold 83,272 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $60.53, for a total value of $5,040,454.16. Following the completion of the sale, the executive vice president now owns 156,119 shares of the company’s stock, valued at approximately $9,449,883.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Brian J. Woram sold 83,272 shares of the business’s stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $60.53, for a total transaction of $5,040,454.16. Following the sale, the executive vice president now owns 156,119 shares in the company, valued at $9,449,883.07. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Jeffrey T. Mezger sold 165,307 shares of the company’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $59.40, for a total value of $9,819,235.80. Following the completion of the transaction, the chief executive officer now directly owns 1,491,298 shares in the company, valued at $88,583,101.20. The disclosure for this sale can be found here. Insiders have sold 412,021 shares of company stock worth $24,954,977 in the last ninety days. 4.44% of the stock is owned by company insiders.

KB Home Company 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.