Allspring Global Investments Holdings LLC Sells 1,587 Shares of KB Home (NYSE:KBH)

Allspring Global Investments Holdings LLC cut its stake in shares of KB Home (NYSE:KBH) by 16.1% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 8,293 shares of the construction company’s stock after selling 1,587 shares during the period. Allspring Global Investments Holdings LLC’s holdings in KB Home were worth $518,000 as of its most recent SEC filing.

A number of other institutional investors have also made changes to their positions in KBH. AQR Capital Management LLC grew its stake in shares of KB Home by 93.9% during the third quarter. AQR Capital Management LLC now owns 2,526,838 shares of the construction company’s stock worth $116,942,000 after purchasing an additional 1,223,612 shares during the period. Jacobs Levy Equity Management Inc. lifted its holdings in KB Home by 225.5% during the third quarter. Jacobs Levy Equity Management Inc. now owns 895,313 shares of the construction company’s stock worth $41,435,000 after acquiring an additional 620,238 shares in the last quarter. Skandinaviska Enskilda Banken AB publ lifted its holdings in KB Home by 246.8% during the third quarter. Skandinaviska Enskilda Banken AB publ now owns 501,100 shares of the construction company’s stock worth $23,191,000 after acquiring an additional 356,600 shares in the last quarter. Invesco Ltd. lifted its holdings in KB Home by 26.1% during the third quarter. Invesco Ltd. now owns 1,546,880 shares of the construction company’s stock worth $71,590,000 after acquiring an additional 320,554 shares in the last quarter. Finally, American Century Companies Inc. lifted its holdings in KB Home by 32.3% during the third quarter. American Century Companies Inc. now owns 1,251,656 shares of the construction company’s stock worth $57,927,000 after acquiring an additional 305,820 shares in the last quarter. 96.09% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other news, Director Arthur Reginald Collins sold 5,500 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The stock was sold at an average price of $60.12, for a total value of $330,660.00. Following the transaction, the director now owns 9,098 shares of the company’s stock, valued at $546,971.76. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, EVP Brian J. Woram sold 83,272 shares of the company’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $60.53, for a total value of $5,040,454.16. Following the transaction, the executive vice president now owns 156,119 shares of the company’s stock, valued at $9,449,883.07. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, Director Arthur Reginald Collins sold 5,500 shares of the company’s stock in a transaction that occurred on Monday, January 29th. The shares were sold at an average price of $60.12, for a total value of $330,660.00. Following the completion of the transaction, the director now directly owns 9,098 shares in the company, valued at approximately $546,971.76. The disclosure for this sale can be found here. Insiders have sold a total of 172,629 shares of company stock valued at $10,675,718 over the last 90 days. 4.44% of the stock is currently owned by insiders.

KB Home Stock Down 0.8 %

Shares of NYSE KBH opened at $64.25 on Friday. The business’s 50 day moving average price is $66.10 and its two-hundred day moving average price is $59.08. The company has a market cap of $4.87 billion, a PE ratio of 8.74, a price-to-earnings-growth ratio of 0.74 and a beta of 1.73. KB Home has a twelve month low of $40.97 and a twelve month high of $72.00.

KB Home (NYSE:KBH) last announced its quarterly earnings results on Wednesday, March 20th. The construction company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.19. The firm had revenue of $1.47 billion for the quarter, compared to the consensus estimate of $1.46 billion. KB Home had a return on equity of 15.78% and a net margin of 9.29%. The business’s revenue was up 6.5% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.45 earnings per share. As a group, research analysts anticipate that KB Home will post 8.01 EPS for the current fiscal year.

KB Home Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.56%. The ex-dividend date is Wednesday, May 8th. This is an increase from KB Home’s previous quarterly dividend of $0.20. KB Home’s payout ratio is 10.88%.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. StockNews.com lowered KB Home from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. UBS Group lifted their target price on KB Home from $82.00 to $87.00 and gave the stock a “buy” rating in a report on Thursday, March 21st. Evercore ISI cut their price target on KB Home from $82.00 to $78.00 and set an “outperform” rating on the stock in a report on Thursday, March 21st. JPMorgan Chase & Co. boosted their price target on KB Home from $68.50 to $70.50 and gave the company a “neutral” rating in a report on Wednesday, March 27th. Finally, Barclays upped their target price on KB Home from $75.00 to $77.00 and gave the stock an “overweight” rating in a report on Friday, March 22nd. One research analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, KB Home has an average rating of “Hold” and a consensus target price of $66.11.

KB Home Profile

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