KB Home (NYSE:KBH) Shares Sold by Arizona State Retirement System

Arizona State Retirement System decreased its holdings in shares of KB Home (NYSE:KBH) by 1.2% during the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 21,036 shares of the construction company’s stock after selling 247 shares during the quarter. Arizona State Retirement System’s holdings in KB Home were worth $1,223,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in KBH. Harbor Capital Advisors Inc. raised its position in shares of KB Home by 73.7% in the 1st quarter. Harbor Capital Advisors Inc. now owns 608 shares of the construction company’s stock worth $35,000 after buying an additional 258 shares during the period. Byrne Asset Management LLC raised its position in shares of KB Home by 51.8% in the 1st quarter. Byrne Asset Management LLC now owns 774 shares of the construction company’s stock worth $45,000 after buying an additional 264 shares during the period. UMB Bank n.a. raised its position in shares of KB Home by 1,256.9% in the 1st quarter. UMB Bank n.a. now owns 977 shares of the construction company’s stock worth $57,000 after buying an additional 905 shares during the period. Amundi raised its position in shares of KB Home by 29.6% in the 4th quarter. Amundi now owns 880 shares of the construction company’s stock worth $58,000 after buying an additional 201 shares during the period. Finally, Headlands Technologies LLC raised its position in KB Home by 1,409.1% in the fourth quarter. Headlands Technologies LLC now owns 996 shares of the construction company’s stock valued at $65,000 after purchasing an additional 930 shares during the period. Institutional investors and hedge funds own 96.09% of the company’s stock.

Insider Buying and Selling

In other KB Home news, COO Robert V. Mcgibney sold 14,000 shares of the firm’s stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $53.52, for a total transaction of $749,280.00. Following the completion of the transaction, the chief operating officer directly owned 78,345 shares of the company’s stock, valued at approximately $4,193,024.40. This trade represents a 15.16% decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Director Arthur Reginald Collins sold 5,000 shares of KB Home stock in a transaction on Friday, May 16th. The shares were sold at an average price of $54.38, for a total transaction of $271,900.00. Following the completion of the sale, the director directly owned 10,262 shares in the company, valued at $558,047.56. This represents a 32.76% decrease in their position. The disclosure for this sale can be found here. Company insiders own 3.89% of the company’s stock.

KB Home Price Performance

KBH stock opened at $53.92 on Friday. KB Home has a 52-week low of $48.90 and a 52-week high of $89.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.60 and a current ratio of 5.83. The company has a fifty day moving average price of $53.25 and a 200-day moving average price of $57.93. The company has a market capitalization of $3.67 billion, a P/E ratio of 7.14, a PEG ratio of 4.33 and a beta of 1.34.

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

KB Home Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date of this dividend is Thursday, August 7th. KB Home’s payout ratio is presently 13.25%.

Analysts Set New Price Targets

KBH has been the topic of several research reports. Keefe, Bruyette & Woods cut their price objective on KB Home from $65.00 to $58.00 and set a “market perform” rating on the stock in a research report on Thursday, June 26th. Royal Bank Of Canada lowered their target price on KB Home from $67.00 to $63.00 and set a “sector perform” rating for the company in a research note on Tuesday, March 25th. UBS Group lowered their target price on KB Home from $86.00 to $80.00 and set a “buy” rating for the company in a research note on Tuesday, June 24th. Barclays set a $49.00 target price on KB Home and gave the company an “equal weight” rating in a research note on Tuesday, June 24th. Finally, Evercore ISI lowered their target price on KB Home from $77.00 to $70.00 and set an “outperform” rating for the company in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average 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.