LSV Asset Management Reduces Stake in KB Home $KBH

LSV Asset Management trimmed its position in shares of KB Home (NYSE:KBH) by 4.6% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 1,004,600 shares of the construction company’s stock after selling 48,800 shares during the quarter. LSV Asset Management’s holdings in KB Home were worth $63,933,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. State Street Corp raised its stake in shares of KB Home by 3.1% during the 2nd quarter. State Street Corp now owns 3,503,159 shares of the construction company’s stock worth $185,562,000 after buying an additional 106,926 shares during the last quarter. Geode Capital Management LLC increased its holdings in KB Home by 7.4% during the 2nd quarter. Geode Capital Management LLC now owns 1,784,398 shares of the construction company’s stock valued at $94,530,000 after acquiring an additional 123,030 shares in the last quarter. Norges Bank acquired a new position in KB Home during the second quarter worth about $55,329,000. Deprince Race & Zollo Inc. acquired a new position in KB Home during the third quarter worth about $59,301,000. Finally, Bank of New York Mellon Corp lifted its holdings in shares of KB Home by 0.4% in the second quarter. Bank of New York Mellon Corp now owns 766,974 shares of the construction company’s stock valued at $40,627,000 after purchasing an additional 3,308 shares in the last quarter. Institutional investors and hedge funds own 96.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Barclays dropped their price objective on shares of KB Home from $71.00 to $62.00 and set an “overweight” rating for the company in a research note on Monday, December 22nd. UBS Group lowered their target price on KB Home from $77.00 to $71.00 and set a “buy” rating on the stock in a report on Tuesday, January 6th. Royal Bank Of Canada dropped their price target on KB Home from $59.00 to $54.00 and set a “sector perform” rating for the company in a research report on Friday, December 19th. Raymond James Financial cut KB Home from an “outperform” rating to a “market perform” rating in a report on Wednesday, December 24th. Finally, Keefe, Bruyette & Woods decreased their price objective on KB Home from $67.00 to $62.00 and set a “market perform” rating on the stock in a research note on Tuesday, December 23rd. Two investment analysts have rated the stock with a Buy rating, ten have given a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $62.73.

KB Home Stock Down 0.1%

KBH stock opened at $63.88 on Friday. The company has a 50 day moving average price of $60.15 and a two-hundred day moving average price of $61.48. The company has a debt-to-equity ratio of 0.43, a quick ratio of 0.53 and a current ratio of 5.77. The stock has a market capitalization of $4.04 billion, a P/E ratio of 13.01, a PEG ratio of 8.34 and a beta of 1.49. KB Home has a one year low of $48.90 and a one year high of $68.71.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Thursday, December 18th. The construction company reported $1.92 earnings per share for the quarter, topping analysts’ consensus estimates of $1.79 by $0.13. KB Home had a return on equity of 11.40% and a net margin of 6.88%.The company had revenue of $1.69 billion for the quarter, compared to analyst estimates of $1.66 billion. During the same quarter in the prior year, the company posted $2.52 EPS. The business’s revenue for the quarter was down 15.5% compared to the same quarter last year. As a group, sell-side analysts expect that KB Home will post 8.42 EPS for the current year.

KB Home Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 19th. Shareholders of record on Thursday, February 5th will be paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.6%. The ex-dividend date of this dividend is Thursday, February 5th. KB Home’s dividend payout ratio (DPR) is presently 20.37%.

About KB Home

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.