Principal Financial Group Inc. Sells 25,078 Shares of KB Home (NYSE:KBH)

Principal Financial Group Inc. lowered its stake in shares of KB Home (NYSE:KBH) by 7.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 294,943 shares of the construction company’s stock after selling 25,078 shares during the quarter. Principal Financial Group Inc. owned about 0.39% of KB Home worth $20,699,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in KBH. Jacobs Levy Equity Management Inc. lifted its stake in shares of KB Home by 2.2% in the first quarter. Jacobs Levy Equity Management Inc. now owns 898,587 shares of the construction company’s stock worth $63,692,000 after buying an additional 18,981 shares during the last quarter. Bank of New York Mellon Corp raised its holdings in KB Home by 0.5% in the 2nd quarter. Bank of New York Mellon Corp now owns 872,761 shares of the construction company’s stock worth $61,250,000 after acquiring an additional 3,993 shares during the period. Norges Bank acquired a new position in KB Home during the 4th quarter worth $36,761,000. Boston Common Asset Management LLC boosted its holdings in KB Home by 2.7% during the second quarter. Boston Common Asset Management LLC now owns 229,762 shares of the construction company’s stock valued at $16,125,000 after acquiring an additional 6,083 shares during the period. Finally, Allianz Asset Management GmbH boosted its holdings in KB Home by 7.6% during the fourth quarter. Allianz Asset Management GmbH now owns 219,443 shares of the construction company’s stock valued at $13,706,000 after acquiring an additional 15,491 shares during the period. Institutional investors own 96.09% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts recently weighed in on the company. Keefe, Bruyette & Woods boosted their price objective on KB Home from $74.00 to $77.00 and gave the stock a “market perform” rating in a research report on Thursday, June 20th. Evercore ISI upped their price target on KB Home from $86.00 to $89.00 and gave the stock an “outperform” rating in a report on Monday, July 15th. Zelman & Associates restated an “underperform” rating and issued a $69.00 price objective on shares of KB Home in a research note on Monday, May 13th. Royal Bank of Canada upped their target price on shares of KB Home from $69.00 to $70.00 and gave the company a “sector perform” rating in a research note on Thursday, June 20th. Finally, Wedbush raised their price target 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 issued a hold rating and five have given a buy rating to the company’s stock. According to data from MarketBeat, KB Home has a consensus rating of “Hold” and a consensus target price of $72.88.

KB Home Stock Performance

NYSE:KBH opened at $80.94 on Wednesday. The company has a market capitalization of $6.09 billion, a price-to-earnings ratio of 10.71, a PEG ratio of 0.84 and a beta of 1.80. The company has a 50-day moving average of $77.89 and a 200-day moving average of $71.26. KB Home has a 52 week low of $42.11 and a 52 week high of $88.31.

KB Home (NYSE:KBH) last announced its quarterly earnings results on Tuesday, June 18th. The construction company reported $2.15 EPS for the quarter, topping analysts’ consensus estimates of $1.78 by $0.37. KB Home had a net margin of 9.43% and a return on equity of 15.66%. The firm had revenue of $1.71 billion during the quarter, compared to analysts’ expectations of $1.64 billion. Sell-side analysts forecast that KB Home will post 8.38 EPS for the current year.

KB Home Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Investors of record on Thursday, August 8th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.24%. The ex-dividend date was Thursday, August 8th. KB Home’s dividend payout ratio is 13.23%.

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.