1,323,532 Shares in KB Home (KBH) Purchased by Norges Bank

Share on StockTwits

Norges Bank purchased a new stake in shares of KB Home (NYSE:KBH) during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor purchased 1,323,532 shares of the construction company’s stock, valued at approximately $25,280,000.

Several other large investors have also recently bought and sold shares of the company. Vanguard Group Inc. grew its holdings in shares of KB Home by 2.5% during the third quarter. Vanguard Group Inc. now owns 8,050,306 shares of the construction company’s stock valued at $192,483,000 after buying an additional 198,509 shares during the last quarter. Vanguard Group Inc grew its holdings in shares of KB Home by 2.5% during the third quarter. Vanguard Group Inc now owns 8,050,306 shares of the construction company’s stock valued at $192,483,000 after buying an additional 198,509 shares during the last quarter. Fisher Asset Management LLC grew its holdings in shares of KB Home by 0.6% during the fourth quarter. Fisher Asset Management LLC now owns 3,321,909 shares of the construction company’s stock valued at $63,448,000 after buying an additional 18,369 shares during the last quarter. Dimensional Fund Advisors LP grew its holdings in shares of KB Home by 0.9% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,872,163 shares of the construction company’s stock valued at $54,860,000 after buying an additional 24,377 shares during the last quarter. Finally, Lakewood Capital Management LP purchased a new stake in shares of KB Home during the fourth quarter valued at approximately $22,735,000. Hedge funds and other institutional investors own 87.54% of the company’s stock.

A number of equities research analysts have recently commented on KBH shares. Wedbush cut their price target on shares of KB Home from $23.00 to $22.00 and set a “neutral” rating on the stock in a report on Thursday, January 10th. ValuEngine upgraded shares of KB Home from a “sell” rating to a “hold” rating in a report on Thursday, April 11th. Raymond James cut shares of KB Home from an “outperform” rating to a “market perform” rating and set a $23.67 price target on the stock. in a report on Monday, February 25th. Credit Suisse Group increased their price target on shares of KB Home from $17.00 to $20.00 and gave the company an “underperform” rating in a report on Wednesday, March 27th. Finally, Zacks Investment Research cut shares of KB Home from a “buy” rating to a “hold” rating in a report on Friday, March 29th. Two analysts have rated the stock with a sell rating, thirteen have assigned a hold rating and five have assigned a buy rating to the company’s stock. The company presently has an average rating of “Hold” and a consensus target price of $24.92.

In related news, insider Jeffrey T. Mezger sold 489,258 shares of the firm’s stock in a transaction that occurred on Wednesday, April 17th. The shares were sold at an average price of $25.37, for a total value of $12,412,475.46. Following the sale, the insider now owns 1,056,532 shares in the company, valued at $26,804,216.84. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Jeffrey T. Mezger sold 183,257 shares of the firm’s stock in a transaction that occurred on Monday, April 15th. The stock was sold at an average price of $25.41, for a total transaction of $4,656,560.37. Following the completion of the sale, the chief executive officer now owns 1,056,532 shares in the company, valued at approximately $26,846,478.12. The disclosure for this sale can be found here. Insiders sold 905,691 shares of company stock worth $23,063,991 in the last 90 days. 7.32% of the stock is currently owned by corporate insiders.

Shares of KBH stock opened at $25.92 on Friday. KB Home has a 12-month low of $16.82 and a 12-month high of $28.96. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.98 and a current ratio of 5.37. The company has a market capitalization of $2.26 billion, a P/E ratio of 9.56, a P/E/G ratio of 1.20 and a beta of 1.57.

KB Home (NYSE:KBH) last issued its earnings results on Tuesday, March 26th. The construction company reported $0.31 earnings per share (EPS) for the quarter, topping the Thomson Reuters’ consensus estimate of $0.25 by $0.06. KB Home had a net margin of 6.05% and a return on equity of 13.34%. The company had revenue of $811.50 million for the quarter, compared to analysts’ expectations of $828.56 million. During the same quarter last year, the company posted $2.12 earnings per share. The firm’s quarterly revenue was down 6.9% on a year-over-year basis. As a group, equities analysts predict that KB Home will post 2.63 EPS for the current year.

The business also recently announced a quarterly dividend, which will be paid on Thursday, May 16th. Investors of record on Thursday, May 2nd will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a yield of 0.39%. The ex-dividend date is Wednesday, May 1st. KB Home’s dividend payout ratio is currently 35.46%.

WARNING: This story was originally reported by Zolmax and is owned by of Zolmax. If you are viewing this story on another website, it was stolen and republished in violation of United States & international copyright and trademark law. The legal version of this story can be read at https://zolmax.com/investing/1323532-shares-in-kb-home-kbh-purchased-by-norges-bank/3052085.html.

KB Home Company Profile

KB Home operates as a homebuilding company in the United States. It operates in four segments: West Coast, Southwest, Central, and Southeast. The company builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers.

Featured Story: What is Cost of Debt?

Want to see what other hedge funds are holding KBH? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for KB Home (NYSE:KBH).

Institutional Ownership by Quarter for KB Home (NYSE:KBH)

Receive News & Ratings for KB Home Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for KB Home and related companies with MarketBeat.com's FREE daily email newsletter.



Latest News

Plexus Corp.  Shares Sold by New York State Teachers Retirement System
Plexus Corp. Shares Sold by New York State Teachers Retirement System
Brookfield Property Reit Inc  Holdings Boosted by Sumitomo Mitsui Asset Management Company LTD
Brookfield Property Reit Inc Holdings Boosted by Sumitomo Mitsui Asset Management Company LTD
Zacks: Chaparral Energy Inc  Receives Consensus Recommendation of “Strong Buy” from Brokerages
Zacks: Chaparral Energy Inc Receives Consensus Recommendation of “Strong Buy” from Brokerages
Kora Network Token  Achieves Market Cap of $114,120.00
Kora Network Token Achieves Market Cap of $114,120.00
EagleX  Hits One Day Volume of $14.00
EagleX Hits One Day Volume of $14.00
Raymond James & Associates Buys 17,577 Shares of Invesco S&P International Developed Low Volatility ETF
Raymond James & Associates Buys 17,577 Shares of Invesco S&P International Developed Low Volatility ETF


 
© 2006-2019 Zolmax.