VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 22,900 KB Home $KBH

VIRGINIA RETIREMENT SYSTEMS ET Al acquired a new stake in shares of KB Home (NYSE:KBH) in the fourth quarter, according to its most recent disclosure with the SEC. The firm acquired 22,900 shares of the construction company’s stock, valued at approximately $1,292,000.

A number of other institutional investors have also added to or reduced their stakes in KBH. Freestone Grove Partners LP purchased a new stake in KB Home during the 3rd quarter valued at approximately $111,050,000. Bank of America Corp DE grew its holdings in KB Home by 36.4% during the 3rd quarter. Bank of America Corp DE now owns 1,033,287 shares of the construction company’s stock valued at $65,758,000 after buying an additional 275,965 shares in the last quarter. UBS Group AG grew its holdings in KB Home by 22.8% during the 3rd quarter. UBS Group AG now owns 815,137 shares of the construction company’s stock valued at $51,875,000 after buying an additional 151,202 shares in the last quarter. Deprince Race & Zollo Inc. grew its holdings in KB Home by 13.1% during the 4th quarter. Deprince Race & Zollo Inc. now owns 1,054,280 shares of the construction company’s stock valued at $59,472,000 after buying an additional 122,457 shares in the last quarter. Finally, Russell Investments Group Ltd. grew its holdings in KB Home by 312.7% during the 3rd quarter. Russell Investments Group Ltd. now owns 156,416 shares of the construction company’s stock valued at $9,954,000 after buying an additional 118,515 shares in the last quarter. 96.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

KBH has been the subject of a number of recent research reports. UBS Group cut their target price on shares of KB Home from $71.00 to $63.00 and set a “buy” rating for the company in a report on Wednesday, March 25th. Seaport Research Partners reissued a “sell” rating and issued a $43.00 target price (down from $65.00) on shares of KB Home in a report on Tuesday, April 7th. Wells Fargo & Company cut their target price on shares of KB Home from $55.00 to $50.00 and set an “underweight” rating for the company in a report on Wednesday, March 25th. Wall Street Zen lowered shares of KB Home from a “hold” rating to a “sell” rating in a report on Saturday, April 11th. Finally, Barclays cut their target price on shares of KB Home from $62.00 to $56.00 and set an “overweight” rating for the company in a report on Wednesday, March 25th. Three equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and three have issued a Sell rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $59.17.

KB Home Stock Performance

KBH stock opened at $45.08 on Friday. The firm has a fifty day moving average price of $52.26 and a 200 day moving average price of $58.11. KB Home has a fifty-two week low of $45.03 and a fifty-two week high of $68.71. The firm has a market cap of $2.82 billion, a PE ratio of 11.44, a price-to-earnings-growth ratio of 7.96 and a beta of 1.42.

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

KB Home Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Thursday, May 21st. Investors of record on Thursday, May 7th will be given a $0.25 dividend. The ex-dividend date is Thursday, May 7th. This represents a $1.00 dividend on an annualized basis and a yield of 2.2%. KB Home’s dividend payout ratio (DPR) is currently 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.