Russell Investments Group Ltd. Sells 54,864 Shares of KB Home $KBH

Russell Investments Group Ltd. lowered its holdings in shares of KB Home (NYSE:KBH) by 46.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 63,986 shares of the construction company’s stock after selling 54,864 shares during the period. Russell Investments Group Ltd. owned approximately 0.09% of KB Home worth $3,719,000 at the end of the most recent reporting period.

Several other hedge funds have also bought and sold shares of the business. AIA Group Ltd bought a new stake in KB Home during the first quarter worth about $258,000. Virtu Financial LLC boosted its stake in KB Home by 90.0% during the first quarter. Virtu Financial LLC now owns 18,043 shares of the construction company’s stock worth $1,049,000 after acquiring an additional 8,546 shares in the last quarter. Entropy Technologies LP boosted its stake in KB Home by 105.1% during the first quarter. Entropy Technologies LP now owns 19,284 shares of the construction company’s stock worth $1,121,000 after acquiring an additional 9,884 shares in the last quarter. Citigroup Inc. boosted its stake in KB Home by 11.0% during the first quarter. Citigroup Inc. now owns 129,573 shares of the construction company’s stock worth $7,531,000 after acquiring an additional 12,844 shares in the last quarter. Finally, Ruffer LLP boosted its stake in KB Home by 51.3% during the first quarter. Ruffer LLP now owns 64,544 shares of the construction company’s stock worth $3,751,000 after acquiring an additional 21,880 shares in the last quarter. Institutional investors own 96.09% of the company’s stock.

KB Home Stock Up 7.0%

Shares of KBH stock opened at $64.8060 on Friday. KB Home has a 12 month low of $48.90 and a 12 month high of $89.70. The stock has a market cap of $4.41 billion, a P/E ratio of 8.58, a P/E/G ratio of 4.87 and a beta of 1.34. The company has a current ratio of 5.83, a quick ratio of 0.60 and a debt-to-equity ratio of 0.47. The company has a 50 day simple moving average of $56.45 and a two-hundred day simple moving average of $56.73.

KB Home (NYSE:KBH) last announced its quarterly earnings data on Monday, June 23rd. The construction company reported $1.50 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.45 by $0.05. The firm had revenue of $1.53 billion during the quarter, compared to analysts’ expectations 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% compared to the same quarter last year. During the same period in the prior year, the company posted $2.15 earnings per share. On average, research analysts expect that KB Home will post 8.42 earnings per share for the current year.

KB Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were paid a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.5%. KB Home’s dividend payout ratio is 13.25%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. Wells Fargo & Company reiterated an “underweight” rating and issued a $52.00 target price (down previously from $53.00) on shares of KB Home in a research note on Tuesday, June 24th. Bank of America lowered their price objective on shares of KB Home from $58.00 to $54.00 and set a “neutral” rating on the stock in a research report on Tuesday, June 24th. Evercore ISI lowered their price objective on shares of KB Home from $77.00 to $70.00 and set an “outperform” rating on the stock in a research report on Tuesday, June 24th. Barclays set a $49.00 price objective on shares of KB Home and gave the company an “equal weight” rating in a research report on Tuesday, June 24th. Finally, Wall Street Zen upgraded shares of KB Home from a “sell” rating to a “hold” rating in a research report on Saturday, July 12th. One equities research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, seven have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $66.14.

Insider Activity

In other news, COO Robert V. Mcgibney sold 14,000 shares of the stock in a transaction on Tuesday, July 15th. The shares were sold at an average price of $53.52, for a total value of $749,280.00. Following the completion of the sale, the chief operating officer directly owned 78,345 shares of the company’s stock, valued at $4,193,024.40. This represents a 15.16% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 3.89% of the stock is currently owned by company insiders.

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.