Arizona State Retirement System Has $1.39 Million Holdings in KB Home (NYSE:KBH)

Arizona State Retirement System cut its holdings in shares of KB Home (NYSE:KBH) by 3.4% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 22,173 shares of the construction company’s stock after selling 779 shares during the period. Arizona State Retirement System’s holdings in KB Home were worth $1,385,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Harbour Investments Inc. bought a new position in shares of KB Home during the 2nd quarter valued at about $26,000. Lazard Asset Management LLC bought a new position in KB Home in the first quarter valued at approximately $40,000. Fifth Third Bancorp boosted its holdings in shares of KB Home by 40.9% in the third quarter. Fifth Third Bancorp now owns 930 shares of the construction company’s stock valued at $43,000 after buying an additional 270 shares during the period. Whittier Trust Co. bought a new stake in shares of KB Home during the fourth quarter worth $62,000. Finally, Acadian Asset Management LLC raised its holdings in shares of KB Home by 35.5% during the first quarter. Acadian Asset Management LLC now owns 2,169 shares of the construction company’s stock worth $69,000 after acquiring an additional 568 shares during the period. 96.09% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of brokerages recently weighed in on KBH. Wedbush upped their target price on shares of KB Home from $60.00 to $64.00 and gave the stock a “neutral” rating in a research note on Thursday, March 21st. UBS Group increased their price objective on KB Home from $82.00 to $87.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Barclays boosted their target price on KB Home from $75.00 to $77.00 and gave the company an “overweight” rating in a research note on Friday, March 22nd. Evercore ISI decreased their price target on shares of KB Home from $82.00 to $78.00 and set an “outperform” rating for the company in a research note on Thursday, March 21st. Finally, StockNews.com lowered shares of KB Home from a “buy” rating to a “hold” rating in a research report on Wednesday. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $66.11.

KB Home Trading Down 1.1 %

Shares of NYSE KBH opened at $64.10 on Friday. The company has a market capitalization of $4.86 billion, a P/E ratio of 8.72, a P/E/G ratio of 0.73 and a beta of 1.73. KB Home has a 12 month low of $38.65 and a 12 month high of $72.00. The stock has a 50 day moving average of $65.78 and a 200-day moving average of $58.08.

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

KB Home Dividend Announcement

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

Insider Transactions at KB Home

In other KB Home news, CEO Jeffrey T. Mezger sold 165,307 shares of the stock in a transaction on Thursday, January 25th. The stock was sold at an average price of $59.40, for a total transaction of $9,819,235.80. Following the transaction, the chief executive officer now owns 1,491,298 shares in the company, valued at approximately $88,583,101.20. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. In other KB Home news, EVP Brian J. Woram sold 83,272 shares of the business’s stock in a transaction dated 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Jeffrey T. Mezger sold 165,307 shares of the firm’s stock in a transaction that occurred on Thursday, January 25th. The stock was sold at an average price of $59.40, for a total transaction of $9,819,235.80. Following 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. Over the last quarter, insiders have sold 412,021 shares of company stock worth $24,954,977. Company insiders own 4.44% of the company’s stock.

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.