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%.
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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.
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