Amalgamated Bank Cuts Stock Holdings in KB Home (NYSE:KBH)

Amalgamated Bank decreased its stake in shares of KB Home (NYSE:KBH) by 5.1% during the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 30,395 shares of the construction company’s stock after selling 1,650 shares during the period. Amalgamated Bank’s holdings in KB Home were worth $1,767,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Invesco Ltd. boosted its position in shares of KB Home by 2.4% during the fourth quarter. Invesco Ltd. now owns 2,396,967 shares of the construction company’s stock valued at $157,529,000 after buying an additional 56,142 shares during the last quarter. First Trust Advisors LP boosted its position in KB Home by 61.2% in the fourth quarter. First Trust Advisors LP now owns 1,327,809 shares of the construction company’s stock worth $87,264,000 after purchasing an additional 503,895 shares during the last quarter. LSV Asset Management boosted its position in KB Home by 3.0% in the fourth quarter. LSV Asset Management now owns 1,137,900 shares of the construction company’s stock worth $74,783,000 after purchasing an additional 33,500 shares during the last quarter. Northern Trust Corp boosted its position in KB Home by 7.3% in the fourth quarter. Northern Trust Corp now owns 1,101,300 shares of the construction company’s stock worth $72,377,000 after purchasing an additional 75,206 shares during the last quarter. Finally, Norges Bank purchased a new position in KB Home in the fourth quarter worth $49,638,000. Hedge funds and other institutional investors own 96.09% of the company’s stock.

KB Home Stock Down 3.1%

Shares of NYSE KBH opened at $54.00 on Monday. The company has a debt-to-equity ratio of 0.47, a current ratio of 5.83 and a quick ratio of 0.60. KB Home has a one year low of $48.90 and a one year high of $89.70. The stock has a market capitalization of $3.87 billion, a PE ratio of 7.15, a P/E/G ratio of 4.27 and a beta of 1.34. The business’s fifty day moving average price is $53.09 and its 200-day moving average price is $58.66.

KB Home (NYSE:KBH) last released its quarterly earnings data on Monday, June 23rd. The construction company reported $1.50 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.45 by $0.05. KB Home had a return on equity of 14.02% and a net margin of 8.47%. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same period in the previous year, the company posted $2.15 EPS. The firm’s revenue for the quarter was down 10.5% compared to the same quarter last year. On average, equities research analysts anticipate that KB Home will post 8.42 EPS for the current year.

KB Home Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Investors of record on Thursday, May 8th were paid a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.85%. KB Home’s payout ratio is 13.25%.

Insider Activity

In related news, Director Arthur Reginald Collins sold 5,000 shares of the business’s stock in a transaction on Friday, May 16th. The stock was sold at an average price of $54.38, for a total transaction of $271,900.00. Following the sale, the director directly owned 10,262 shares in the company, valued at approximately $558,047.56. The trade was a 32.76% decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Insiders own 3.89% of the company’s stock.

Analyst Ratings Changes

Several research analysts have weighed in on the company. Royal Bank Of Canada cut their price objective on KB Home from $67.00 to $63.00 and set a “sector perform” rating on the stock in a research report on Tuesday, March 25th. Wedbush reissued a “neutral” rating and issued a $75.00 price objective on shares of KB Home in a research report on Tuesday, March 25th. Wall Street Zen cut KB Home from a “hold” rating to a “sell” rating in a research report on Saturday, June 28th. Bank of America cut their price objective on KB Home from $58.00 to $54.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 24th. Finally, Evercore ISI cut their price objective on KB Home from $77.00 to $70.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 24th. Two investment analysts have rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $66.14.

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.