Legal & General Group Plc Cuts Stock Position in KB Home $KBH

Legal & General Group Plc lessened its stake in KB Home (NYSE:KBH) by 8.8% during the 4th quarter, Holdings Channel.com reports. The firm owned 100,391 shares of the construction company’s stock after selling 9,729 shares during the quarter. Legal & General Group Plc’s holdings in KB Home were worth $5,663,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. First Horizon Corp grew its stake in KB Home by 178.9% in the fourth quarter. First Horizon Corp now owns 502 shares of the construction company’s stock valued at $28,000 after purchasing an additional 322 shares during the last quarter. Fulcrum Asset Management LLP purchased a new position in KB Home in the third quarter valued at about $36,000. Aventura Private Wealth LLC purchased a new position in KB Home in the fourth quarter valued at about $46,000. Jones Financial Companies Lllp grew its stake in shares of KB Home by 44.4% during the third quarter. Jones Financial Companies Lllp now owns 781 shares of the construction company’s stock worth $49,000 after acquiring an additional 240 shares during the last quarter. Finally, SBI Securities Co. Ltd. raised its position in shares of KB Home by 2,848.4% in the 3rd quarter. SBI Securities Co. Ltd. now owns 914 shares of the construction company’s stock valued at $58,000 after purchasing an additional 883 shares during the last quarter. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on KBH shares. Royal Bank Of Canada decreased their price objective on shares of KB Home from $54.00 to $53.00 and set a “sector perform” rating for the company in a research report on Wednesday, March 25th. UBS Group dropped their target price on KB Home from $71.00 to $63.00 and set a “buy” rating on the stock in a research report on Wednesday, March 25th. Barclays dropped their target price on KB Home from $62.00 to $56.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 25th. Bank of America dropped their target price on KB Home from $63.00 to $56.00 and set a “neutral” rating on the stock in a research report on Wednesday, March 25th. Finally, Wall Street Zen lowered KB Home from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. Three investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. According to data from MarketBeat, KB Home has a consensus rating of “Hold” and a consensus price target of $59.17.

KB Home Stock Up 0.2%

KBH stock opened at $52.13 on Monday. The stock has a market capitalization of $3.27 billion, a P/E ratio of 13.23, a P/E/G ratio of 9.19 and a beta of 1.37. The firm has a 50-day simple moving average of $50.72 and a 200-day simple moving average of $56.81. KB Home has a 52 week low of $44.03 and a 52 week high of $68.71.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Tuesday, March 24th. The construction company reported $0.52 EPS for the quarter, meeting the consensus estimate of $0.52. KB Home had a return on equity of 9.63% and a net margin of 5.96%.The firm had revenue of $1.08 billion during the quarter, compared to the consensus estimate of $1.10 billion. During the same period in the prior year, the company earned $1.49 EPS. The firm’s revenue was down 22.6% compared to the same quarter last year. On average, analysts expect that KB Home will post 3.1 earnings per share for the current year.

KB Home Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Shareholders of record on Thursday, May 7th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.9%. The ex-dividend date of this dividend was Thursday, May 7th. KB Home’s payout ratio is 25.38%.

KB Home 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.