Corebridge Financial Inc. Reduces Stock Position in KB Home (NYSE:KBH)

Corebridge Financial Inc. cut its stake in shares of KB Home (NYSE:KBH) by 7.6% in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund owned 111,537 shares of the construction company’s stock after selling 9,155 shares during the period. Corebridge Financial Inc.’s holdings in KB Home were worth $7,330,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of KBH. FMR LLC grew its holdings in shares of KB Home by 47.9% in the third quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock worth $463,690,000 after acquiring an additional 1,752,498 shares during the period. State Street Corp boosted its position in KB Home by 1.3% in the third quarter. State Street Corp now owns 3,539,328 shares of the construction company’s stock worth $303,285,000 after purchasing an additional 45,311 shares during the last quarter. Fisher Asset Management LLC grew its stake in shares of KB Home by 3.4% during the 4th quarter. Fisher Asset Management LLC now owns 2,281,315 shares of the construction company’s stock valued at $149,928,000 after purchasing an additional 75,143 shares during the period. Geode Capital Management LLC increased its position in shares of KB Home by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,938,359 shares of the construction company’s stock valued at $166,125,000 after purchasing an additional 16,593 shares during the last quarter. Finally, Holocene Advisors LP bought a new position in shares of KB Home in the 3rd quarter worth approximately $89,899,000. 96.09% of the stock is owned by institutional investors.

KB Home Stock Down 2.4 %

NYSE KBH opened at $57.79 on Friday. KB Home has a 12 month low of $56.41 and a 12 month high of $89.70. The company has a current ratio of 5.51, a quick ratio of 0.83 and a debt-to-equity ratio of 0.42. The stock has a market cap of $4.13 billion, a PE ratio of 6.82, a P/E/G ratio of 0.90 and a beta of 1.89. The stock’s 50 day moving average is $63.43 and its 200 day moving average is $72.46.

KB Home (NYSE:KBH) last released its quarterly earnings data on Monday, March 24th. The construction company reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.07). KB Home had a net margin of 9.45% and a return on equity of 16.46%. The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same quarter in the previous year, the business earned $1.76 EPS. The company’s quarterly revenue was down 5.2% on a year-over-year basis. Research analysts predict that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.73%. The ex-dividend date of this dividend was Thursday, February 6th. KB Home’s payout ratio is currently 12.20%.

Insider Buying and Selling at KB Home

In related news, CFO Jeff Kaminski sold 27,500 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $68.77, for a total value of $1,891,175.00. Following the sale, the chief financial officer now directly owns 34,473 shares in the company, valued at approximately $2,370,708.21. The trade was a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Insiders own 3.89% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on KBH shares. Wedbush reaffirmed a “neutral” rating and set a $75.00 target price on shares of KB Home in a report on Tuesday. Keefe, Bruyette & Woods reduced their price objective on KB Home from $76.00 to $65.00 and set a “market perform” rating for the company in a research note on Wednesday. Barclays lowered their target price on KB Home from $60.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Tuesday. UBS Group reduced their price target on KB Home from $97.00 to $86.00 and set a “buy” rating for the company in a research report on Tuesday. Finally, Evercore ISI lifted their price objective on KB Home from $88.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, January 14th. Three investment analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $71.21.

KB Home Company 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.