Teacher Retirement System of Texas Has $1.34 Million Stake in KB Home $KBH

Teacher Retirement System of Texas decreased its holdings in shares of KB Home (NYSE:KBH) by 74.7% in the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 25,276 shares of the construction company’s stock after selling 74,792 shares during the quarter. Teacher Retirement System of Texas’ holdings in KB Home were worth $1,339,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of KBH. Allspring Global Investments Holdings LLC raised its stake in KB Home by 52.2% during the first quarter. Allspring Global Investments Holdings LLC now owns 12,844 shares of the construction company’s stock worth $750,000 after acquiring an additional 4,405 shares in the last quarter. Principal Financial Group Inc. raised its stake in KB Home by 0.4% during the first quarter. Principal Financial Group Inc. now owns 208,222 shares of the construction company’s stock worth $12,102,000 after acquiring an additional 902 shares in the last quarter. Bank of New York Mellon Corp raised its stake in KB Home by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 763,666 shares of the construction company’s stock worth $44,384,000 after acquiring an additional 6,856 shares in the last quarter. M&T Bank Corp raised its stake in KB Home by 29.3% during the first quarter. M&T Bank Corp now owns 9,184 shares of the construction company’s stock worth $534,000 after acquiring an additional 2,082 shares in the last quarter. Finally, DekaBank Deutsche Girozentrale raised its stake in KB Home by 1.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 12,854 shares of the construction company’s stock worth $729,000 after acquiring an additional 221 shares in the last quarter. Institutional investors and hedge funds own 96.09% of the company’s stock.

Analysts Set New Price Targets

KBH has been the topic of several research reports. Wells Fargo & Company boosted their price target on KB Home from $50.00 to $60.00 and gave the stock an “underweight” rating in a report on Tuesday, September 2nd. Wall Street Zen upgraded KB Home from a “sell” rating to a “hold” rating in a report on Saturday, July 12th. Oppenheimer initiated coverage on KB Home in a report on Wednesday, September 3rd. They set a “market perform” rating on the stock. Zacks Research upgraded KB Home from a “strong sell” rating to a “hold” rating in a report on Friday, September 5th. Finally, Raymond James Financial boosted their price target on KB Home from $65.00 to $72.00 and gave the stock an “outperform” rating in a report on Thursday, September 25th. One analyst has rated the stock with a Strong Buy rating, two have assigned a Buy rating, eleven have assigned a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $64.36.

KB Home Price Performance

Shares of KBH stock opened at $60.46 on Thursday. The business’s 50 day simple moving average is $63.20 and its 200 day simple moving average is $58.05. KB Home has a one year low of $48.90 and a one year high of $85.66. The stock has a market capitalization of $3.92 billion, a PE ratio of 8.01, a PEG ratio of 5.17 and a beta of 1.36.

KB Home (NYSE:KBH) last announced its earnings results on Wednesday, September 24th. The construction company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.50 by $0.11. The business had revenue of $1.62 billion for the quarter, compared to analysts’ expectations of $1.59 billion. KB Home had a return on equity of 12.91% and a net margin of 7.92%.The firm’s revenue was down 7.4% on a year-over-year basis. During the same period in the prior year, the business posted $2.04 earnings per share. As a group, research analysts expect that KB Home will post 8.42 earnings per share for the current year.

KB Home Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, November 26th. Shareholders of record on Thursday, November 13th 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 1.7%. The ex-dividend date is Thursday, November 13th. KB Home’s dividend payout ratio is presently 13.25%.

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.