Allspring Global Investments Holdings LLC Cuts Stock Position in KB Home (NYSE:KBH)

Allspring Global Investments Holdings LLC lowered its holdings in KB Home (NYSE:KBH) by 16.1% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 8,293 shares of the construction company’s stock after selling 1,587 shares during the period. Allspring Global Investments Holdings LLC’s holdings in KB Home were worth $518,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also bought and sold shares of the business. Fifth Third Bancorp lifted its position in shares of KB Home by 40.9% during the 3rd 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 last quarter. Whittier Trust Co. purchased a new stake in KB Home during the 4th quarter worth about $62,000. CI Investments Inc. purchased a new stake in KB Home during the 3rd quarter worth about $145,000. NBC Securities Inc. purchased a new stake in KB Home during the 3rd quarter worth about $196,000. Finally, DekaBank Deutsche Girozentrale purchased a new stake in KB Home during the 3rd quarter worth about $218,000. Hedge funds and other institutional investors own 96.09% of the company’s stock.

KB Home Stock Down 0.8 %

Shares of NYSE KBH opened at $64.25 on Friday. The firm has a market capitalization of $4.87 billion, a P/E ratio of 8.74, a P/E/G ratio of 0.74 and a beta of 1.73. The stock’s 50-day simple moving average is $66.10 and its two-hundred day simple moving average is $59.08. KB Home has a twelve month low of $40.97 and a twelve month high of $72.00.

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

KB Home Increases Dividend

The company also recently disclosed a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be given a dividend of $0.25 per share. The ex-dividend date is Wednesday, May 8th. This is a positive change from KB Home’s previous quarterly dividend of $0.20. This represents a $1.00 annualized dividend and a dividend yield of 1.56%. KB Home’s dividend payout ratio is 10.88%.

Insider Activity

In other news, CAO William R. Hollinger sold 45,471 shares of the stock in a transaction dated Tuesday, January 30th. The stock was sold at an average price of $60.47, for a total transaction of $2,749,631.37. Following the transaction, the chief accounting officer now directly owns 109,981 shares in the company, valued at approximately $6,650,551.07. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CAO William R. Hollinger sold 45,471 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $60.47, for a total transaction of $2,749,631.37. Following the transaction, the chief accounting officer now directly owns 109,981 shares in the company, valued at approximately $6,650,551.07. The transaction was disclosed in a filing with the SEC, which is available through this hyperlink. Also, Director Arthur Reginald Collins sold 5,500 shares of the firm’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $60.12, for a total value of $330,660.00. Following the transaction, the director now owns 9,098 shares in the company, valued at $546,971.76. The disclosure for this sale can be found here. In the last three months, insiders have sold 172,629 shares of company stock worth $10,675,718. 4.44% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of analysts recently issued reports on the company. Wells Fargo & Company increased their price objective on KB Home from $65.00 to $70.00 and gave the stock an “equal weight” rating in a report on Thursday, March 21st. Royal Bank of Canada increased their price objective on KB Home from $63.00 to $69.00 and gave the stock a “sector perform” rating in a report on Thursday, March 21st. Barclays increased their price objective on KB Home from $75.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. The Goldman Sachs Group increased their price objective on KB Home from $61.00 to $70.00 and gave the stock a “neutral” rating in a report on Friday, March 22nd. Finally, Keefe, Bruyette & Woods increased their price objective on KB Home from $67.00 to $77.00 and gave the stock a “market perform” rating in a report on Thursday, March 28th. One investment analyst has rated the stock with a sell rating, seven have given a hold rating and five have given a buy rating to the stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $66.11.

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.