Allianz Asset Management GmbH Reduces Holdings in KB Home $KBH

Allianz Asset Management GmbH lowered its stake in shares of KB Home (NYSE:KBH) by 35.5% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 63,465 shares of the construction company’s stock after selling 34,915 shares during the quarter. Allianz Asset Management GmbH owned about 0.10% of KB Home worth $4,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors also recently bought and sold shares of KBH. SG Americas Securities LLC raised its position in shares of KB Home by 204.8% in the 3rd quarter. SG Americas Securities LLC now owns 69,078 shares of the construction company’s stock worth $4,396,000 after acquiring an additional 46,415 shares in the last quarter. Deprince Race & Zollo Inc. purchased a new stake in KB Home in the third quarter worth $59,301,000. Y Intercept Hong Kong Ltd bought a new position in KB Home in the third quarter worth $1,551,000. Strs Ohio boosted its holdings in shares of KB Home by 1,788.1% during the 3rd quarter. Strs Ohio now owns 79,300 shares of the construction company’s stock valued at $5,047,000 after buying an additional 75,100 shares in the last quarter. Finally, Aristides Capital LLC bought a new stake in shares of KB Home during the 2nd quarter valued at $240,000. 96.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on KBH. Weiss Ratings reiterated a “hold (c+)” rating on shares of KB Home in a research note on Thursday, January 22nd. Wells Fargo & Company lowered their target price on shares of KB Home from $60.00 to $55.00 and set an “underweight” rating for the company in a report on Friday, December 19th. The Goldman Sachs Group restated a “neutral” rating and issued a $66.00 price target on shares of KB Home in a research note on Tuesday, January 13th. Barclays reduced their price objective on KB Home from $71.00 to $62.00 and set an “overweight” rating for the company in a research report on Monday, December 22nd. Finally, JPMorgan Chase & Co. dropped their target price on KB Home from $71.00 to $50.00 and set a “neutral” rating on the stock in a report on Monday, December 29th. Two equities research analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have assigned a Sell rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $62.73.

KB Home Price Performance

KBH opened at $63.53 on Wednesday. The company’s 50-day simple moving average is $60.19 and its two-hundred day simple moving average is $61.44. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.53 and a current ratio of 5.77. The stock has a market capitalization of $4.01 billion, a P/E ratio of 12.94, a P/E/G ratio of 7.90 and a beta of 1.49. KB Home has a 52-week low of $48.90 and a 52-week high of $68.71.

KB Home (NYSE:KBH) last issued its quarterly earnings data on Thursday, December 18th. The construction company reported $1.92 earnings per share for the quarter, beating analysts’ consensus estimates of $1.79 by $0.13. KB Home had a net margin of 6.88% and a return on equity of 11.40%. The company had revenue of $1.69 billion for the quarter, compared to the consensus estimate of $1.66 billion. During the same quarter in the prior year, the firm earned $2.52 earnings per share. The firm’s revenue for the quarter was down 15.5% compared to the same quarter last year. As a group, analysts predict that KB Home will post 8.42 EPS for the current year.

KB Home Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Stockholders of record on Thursday, February 5th will be paid 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 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.