Fisher Asset Management LLC Reduces Position in KB Home $KBH

Fisher Asset Management LLC trimmed its position in KB Home (NYSE:KBH) by 95.7% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 36,297 shares of the construction company’s stock after selling 815,792 shares during the quarter. Fisher Asset Management LLC owned 0.06% of KB Home worth $2,310,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in KBH. State Street Corp boosted its position in KB Home by 3.1% during the 2nd quarter. State Street Corp now owns 3,503,159 shares of the construction company’s stock valued at $185,562,000 after buying an additional 106,926 shares during the period. Geode Capital Management LLC grew its holdings in KB Home by 7.4% in the 2nd quarter. Geode Capital Management LLC now owns 1,784,398 shares of the construction company’s stock worth $94,530,000 after acquiring an additional 123,030 shares during the last quarter. Norges Bank purchased a new position in shares of KB Home in the second quarter valued at about $55,329,000. Deprince Race & Zollo Inc. purchased a new position in shares of KB Home in the third quarter valued at about $59,301,000. Finally, Bank of New York Mellon Corp raised its stake in shares of KB Home by 0.4% during the second quarter. Bank of New York Mellon Corp now owns 766,974 shares of the construction company’s stock valued at $40,627,000 after acquiring an additional 3,308 shares during the last quarter. 96.09% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently weighed in on KBH shares. The Goldman Sachs Group reiterated a “neutral” rating and set a $66.00 target price on shares of KB Home in a report on Tuesday, January 13th. Raymond James Financial downgraded KB Home from an “outperform” rating to a “market perform” rating in a report on Wednesday, December 24th. Bank of America lowered their price target on KB Home from $62.00 to $58.00 and set a “neutral” rating for the company in a research report on Monday, December 22nd. JPMorgan Chase & Co. dropped their price objective on KB Home from $71.00 to $50.00 and set a “neutral” rating for the company in a report on Monday, December 29th. Finally, Zacks Research lowered KB Home from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 23rd. Two investment analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have assigned a Sell rating to the stock. According to data from MarketBeat, KB Home has a consensus rating of “Hold” and a consensus price target of $62.92.

KB Home Stock Down 1.1%

Shares of NYSE:KBH opened at $57.84 on Friday. The company has a current ratio of 5.77, a quick ratio of 0.53 and a debt-to-equity ratio of 0.43. The stock has a fifty day simple moving average of $60.77 and a two-hundred day simple moving average of $61.92. KB Home has a 12-month low of $48.90 and a 12-month high of $68.71. The stock has a market capitalization of $3.65 billion, a price-to-earnings ratio of 11.78, a PEG ratio of 7.69 and a beta of 1.47.

KB Home (NYSE:KBH) last released its earnings results on Thursday, December 18th. The construction company reported $1.92 EPS for the quarter, topping analysts’ consensus estimates of $1.79 by $0.13. KB Home had a return on equity of 11.40% and a net margin of 6.88%.The firm had revenue of $1.69 billion for the quarter, compared to analysts’ expectations of $1.66 billion. During the same period in the prior year, the firm posted $2.52 earnings per share. The company’s quarterly revenue was down 15.5% on a year-over-year basis. On average, research analysts anticipate that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Investors of record on Thursday, February 5th were paid a $0.25 dividend. The ex-dividend date was Thursday, February 5th. This represents a $1.00 dividend on an annualized basis and a yield of 1.7%. KB Home’s payout ratio is presently 20.37%.

KB Home Company Profile

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.