New York State Common Retirement Fund Has $5.47 Million Stock Holdings in KB Home $KBH

New York State Common Retirement Fund lifted its holdings in KB Home (NYSE:KBH) by 150.6% in the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 85,894 shares of the construction company’s stock after buying an additional 51,619 shares during the quarter. New York State Common Retirement Fund owned about 0.13% of KB Home worth $5,466,000 at the end of the most recent quarter.

A number of other hedge funds have also recently added to or reduced their stakes in the stock. TD Waterhouse Canada Inc. increased its position in KB Home by 72.6% in the 3rd quarter. TD Waterhouse Canada Inc. now owns 5,450 shares of the construction company’s stock valued at $353,000 after acquiring an additional 2,292 shares in the last quarter. Ballentine Partners LLC lifted its position in shares of KB Home by 16.8% during the third quarter. Ballentine Partners LLC now owns 13,904 shares of the construction company’s stock worth $885,000 after purchasing an additional 1,997 shares in the last quarter. J. Safra Sarasin Holding AG bought a new stake in shares of KB Home during the third quarter valued at approximately $219,000. Vanguard Personalized Indexing Management LLC increased its holdings in shares of KB Home by 8.5% in the third quarter. Vanguard Personalized Indexing Management LLC now owns 14,233 shares of the construction company’s stock valued at $906,000 after purchasing an additional 1,113 shares in the last quarter. Finally, Y Intercept Hong Kong Ltd acquired a new stake in shares of KB Home in the third quarter valued at approximately $1,551,000. Institutional investors own 96.09% of the company’s stock.

KB Home Stock Up 0.5%

NYSE:KBH opened at $61.58 on Friday. The company has a quick ratio of 0.53, a current ratio of 5.77 and a debt-to-equity ratio of 0.43. KB Home has a 12-month low of $48.90 and a 12-month high of $68.71. The stock’s fifty day simple moving average is $60.34 and its 200-day simple moving average is $61.29. The firm has a market capitalization of $3.89 billion, a P/E ratio of 12.54, a P/E/G ratio of 8.08 and a beta of 1.49.

KB Home (NYSE:KBH) last released its earnings results on Thursday, December 18th. The construction company reported $1.92 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $1.66 billion. During the same quarter 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. Equities research analysts expect that KB Home will post 8.42 earnings per share for the current year.

KB Home Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Investors of record on Thursday, February 5th will be given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date is Thursday, February 5th. KB Home’s dividend payout ratio (DPR) is currently 20.37%.

Analyst Ratings Changes

Several research analysts have issued reports on the company. JPMorgan Chase & Co. reduced their price objective on KB Home from $71.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, December 29th. Royal Bank Of Canada dropped their target price on KB Home from $59.00 to $54.00 and set a “sector perform” rating for the company in a research report on Friday, December 19th. Keefe, Bruyette & Woods cut their price target on KB Home from $67.00 to $62.00 and set a “market perform” rating on the stock in a research note on Tuesday, December 23rd. Barclays decreased their price target on KB Home from $71.00 to $62.00 and set an “overweight” rating on the stock in a report on Monday, December 22nd. Finally, The Goldman Sachs Group reissued a “neutral” rating and set a $66.00 price objective on shares of KB Home in a report on Tuesday, January 13th. Two analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have given a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $62.73.

About KB Home

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.