Brandywine Global Investment Management LLC Reduces Stake in KB Home (KBH)
Brandywine Global Investment Management LLC lessened its position in KB Home (NYSE:KBH) by 9.2% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 311,681 shares of the construction company’s stock after selling 31,418 shares during the period. Brandywine Global Investment Management LLC’s holdings in KB Home were worth $9,959,000 at the end of the most recent reporting period.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. BlackRock Inc. raised its stake in shares of KB Home by 5.2% in the 4th quarter. BlackRock Inc. now owns 10,649,861 shares of the construction company’s stock worth $340,261,000 after buying an additional 522,007 shares in the last quarter. Renaissance Technologies LLC raised its stake in shares of KB Home by 348.3% in the 4th quarter. Renaissance Technologies LLC now owns 1,821,700 shares of the construction company’s stock worth $58,203,000 after buying an additional 1,415,300 shares in the last quarter. Hennessy Advisors Inc. bought a new stake in shares of KB Home in the 4th quarter worth $34,238,000. Sadoff Investment Management LLC bought a new stake in shares of KB Home in the 4th quarter worth $32,749,000. Finally, Acadian Asset Management LLC bought a new stake in shares of KB Home in the 4th quarter worth $29,512,000. 95.68% of the stock is currently owned by institutional investors.
In other news, CFO Jeff Kaminski sold 125,000 shares of KB Home stock in a transaction on Tuesday, January 30th. The stock was sold at an average price of $32.53, for a total transaction of $4,066,250.00. Following the transaction, the chief financial officer now owns 237,775 shares in the company, valued at $7,734,820.75. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, SVP Thomas F. Norton sold 47,179 shares of KB Home stock in a transaction on Tuesday, February 13th. The shares were sold at an average price of $30.32, for a total value of $1,430,467.28. Following the transaction, the senior vice president now owns 103,562 shares in the company, valued at approximately $3,139,999.84. The disclosure for this sale can be found here. Insiders own 8.60% of the company’s stock.
KB Home (NYSE:KBH) last issued its quarterly earnings results on Wednesday, January 10th. The construction company reported $0.84 earnings per share for the quarter, beating analysts’ consensus estimates of $0.77 by $0.07. KB Home had a return on equity of 9.93% and a net margin of 4.13%. The business had revenue of $1.40 billion for the quarter, compared to the consensus estimate of $1.36 billion. During the same quarter in the previous year, the company posted $0.40 earnings per share. KB Home’s revenue for the quarter was up 17.7% compared to the same quarter last year. analysts expect that KB Home will post 2.61 EPS for the current fiscal year.
The firm also recently declared a quarterly dividend, which was paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th were issued a dividend of $0.025 per share. The ex-dividend date was Wednesday, February 7th. This represents a $0.10 dividend on an annualized basis and a dividend yield of 0.33%. KB Home’s dividend payout ratio is 5.46%.
A number of analysts have recently commented on KBH shares. ValuEngine downgraded KB Home from a “strong-buy” rating to a “buy” rating in a research note on Thursday, March 1st. Mizuho set a $35.00 price objective on KB Home and gave the stock a “hold” rating in a research note on Thursday, January 18th. Zacks Investment Research lowered KB Home from a “buy” rating to a “hold” rating in a research report on Monday, December 4th. Royal Bank of Canada reaffirmed a “hold” rating and set a $31.00 target price on shares of KB Home in a research report on Wednesday, November 15th. Finally, Keefe, Bruyette & Woods reaffirmed a “hold” rating and set a $33.00 target price on shares of KB Home in a research report on Friday, December 22nd. Six equities research analysts have rated the stock with a sell rating, twelve have assigned a hold rating, one has given a buy rating and one has given a strong buy rating to the company’s stock. KB Home presently has an average rating of “Hold” and a consensus price target of $29.07.
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KB Home Company Profile
KB HOME is a homebuilding company. The Company is engaged in selling and building a range of new homes designed primarily for first-time, move-up and active adult homebuyers, including attached and detached single-family residential homes. It operates through five segments, which consist of four homebuilding segments and one financial services segment.
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