Retirement Systems of Alabama Lowers Stock Position in KB Home (NYSE:KBH)

Retirement Systems of Alabama lowered its position in KB Home (NYSE:KBHFree Report) by 3.8% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 92,284 shares of the construction company’s stock after selling 3,604 shares during the period. Retirement Systems of Alabama owned about 0.12% of KB Home worth $6,541,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. raised its holdings in shares of KB Home by 3.5% in the third quarter. Vanguard Group Inc. now owns 7,819,706 shares of the construction company’s stock valued at $361,896,000 after purchasing an additional 263,194 shares during the last quarter. American Century Companies Inc. increased its holdings in KB Home by 32.3% during the third quarter. American Century Companies Inc. now owns 1,251,656 shares of the construction company’s stock worth $57,927,000 after buying an additional 305,820 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in KB Home by 225.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 895,313 shares of the construction company’s stock worth $41,435,000 after buying an additional 620,238 shares during the last quarter. Wedge Capital Management L L P NC increased its holdings in KB Home by 2,728.9% during the first quarter. Wedge Capital Management L L P NC now owns 642,869 shares of the construction company’s stock worth $45,567,000 after buying an additional 620,144 shares during the last quarter. Finally, Norges Bank purchased a new stake in KB Home during the fourth quarter worth about $36,761,000. Hedge funds and other institutional investors own 96.09% of the company’s stock.

KB Home Trading Down 1.1 %

KBH stock opened at $65.89 on Friday. KB Home has a 12 month low of $42.11 and a 12 month high of $74.65. The firm has a market capitalization of $5.00 billion, a P/E ratio of 8.72, a price-to-earnings-growth ratio of 0.68 and a beta of 1.80. The firm has a 50 day moving average of $69.30 and a 200-day moving average of $65.75.

KB Home Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.52%. This is an increase from KB Home’s previous quarterly dividend of $0.20. The ex-dividend date was Wednesday, May 8th. KB Home’s dividend payout ratio is presently 13.23%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on KBH shares. Zelman & Associates restated an “underperform” rating and set a $69.00 price objective on shares of KB Home in a report on Monday, May 13th. JPMorgan Chase & Co. raised their price objective on shares of KB Home from $68.50 to $70.50 and gave the stock a “neutral” rating in a report on Wednesday, March 27th. StockNews.com downgraded shares of KB Home from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. Evercore ISI increased their target price on shares of KB Home from $78.00 to $86.00 and gave the stock an “outperform” rating in a research report on Thursday, June 20th. Finally, Wedbush increased their target price on shares of KB Home from $64.00 to $67.00 and gave the stock a “neutral” rating in a research report on Thursday, June 20th. Two equities research analysts have rated the stock with a sell rating, seven have given a hold rating and five have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $71.63.

Check Out Our Latest Analysis on KBH

Insiders Place Their Bets

In other KB Home news, EVP Albert Z. Praw sold 22,160 shares of the company’s stock in a transaction that occurred on Friday, May 10th. The stock was sold at an average price of $70.11, for a total value of $1,553,637.60. Following the completion of the transaction, the executive vice president now directly owns 135,512 shares in the company, valued at approximately $9,500,746.32. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other KB Home news, CFO Jeff Kaminski sold 38,386 shares of the company’s stock in a transaction that occurred on Tuesday, April 9th. The stock was sold at an average price of $66.56, for a total value of $2,554,972.16. Following the completion of the transaction, the chief financial officer now directly owns 34,473 shares in the company, valued at approximately $2,294,522.88. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, EVP Albert Z. Praw sold 22,160 shares of the stock in a transaction that occurred on Friday, May 10th. The shares were sold at an average price of $70.11, for a total value of $1,553,637.60. Following the transaction, the executive vice president now owns 135,512 shares of the company’s stock, valued at $9,500,746.32. The disclosure for this sale can be found here. Insiders sold 64,460 shares of company stock worth $4,384,468 in the last three months. 3.52% of the stock is owned by company insiders.

KB Home Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for KB Home (NYSE:KBH)

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