Vanguard Group Inc. Sells 406,228 Shares of KB Home $KBH

Vanguard Group Inc. decreased its stake in shares of KB Home (NYSE:KBH) by 6.3% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 6,080,753 shares of the construction company’s stock after selling 406,228 shares during the period. Vanguard Group Inc. owned about 0.09% of KB Home worth $386,979,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank bought a new stake in shares of KB Home in the second quarter worth $55,329,000. Deprince Race & Zollo Inc. bought a new position in KB Home in the third quarter valued at about $59,301,000. Edgestream Partners L.P. boosted its position in KB Home by 6,329.8% in the second quarter. Edgestream Partners L.P. now owns 241,953 shares of the construction company’s stock worth $12,816,000 after purchasing an additional 238,190 shares during the last quarter. Assenagon Asset Management S.A. grew its stake in shares of KB Home by 76.1% during the 3rd quarter. Assenagon Asset Management S.A. now owns 529,592 shares of the construction company’s stock valued at $33,703,000 after purchasing an additional 228,853 shares during the period. Finally, Jump Financial LLC grew its stake in shares of KB Home by 1,406.4% during the 2nd quarter. Jump Financial LLC now owns 152,925 shares of the construction company’s stock valued at $8,100,000 after purchasing an additional 142,773 shares during the period. Hedge funds and other institutional investors own 96.09% of the company’s stock.

Analysts Set New Price Targets

KBH has been the subject of a number of recent research reports. Zacks Research downgraded shares of KB Home from a “hold” rating to a “strong sell” rating in a research report on Tuesday, December 23rd. Wells Fargo & Company lowered their target price on KB Home from $60.00 to $55.00 and set an “underweight” rating on the stock in a research report on Friday, December 19th. Keefe, Bruyette & Woods cut their price target on KB Home from $67.00 to $62.00 and set a “market perform” rating for the company in a report on Tuesday, December 23rd. Weiss Ratings reaffirmed a “hold (c+)” rating on shares of KB Home in a research note on Thursday, January 22nd. Finally, Barclays lowered their price objective on KB Home from $71.00 to $62.00 and set an “overweight” rating on the stock in a research report on Monday, December 22nd. Two analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $62.73.

KB Home Stock Performance

NYSE:KBH opened at $63.43 on Friday. The company has a market cap of $4.01 billion, a price-to-earnings ratio of 12.92, a PEG ratio of 8.23 and a beta of 1.49. KB Home has a 1 year low of $48.90 and a 1 year high of $68.71. The stock’s 50 day simple moving average is $60.41 and its two-hundred day simple moving average is $61.99. The company has a debt-to-equity ratio of 0.43, a current ratio of 5.77 and a quick ratio of 0.53.

KB Home (NYSE:KBH) last announced its quarterly earnings results on Thursday, December 18th. The construction company reported $1.92 EPS for the quarter, beating analysts’ consensus estimates of $1.79 by $0.13. The firm had revenue of $1.69 billion during the quarter, compared to the consensus estimate of $1.66 billion. KB Home had a net margin of 6.88% and a return on equity of 11.40%. The firm’s revenue for the quarter was down 15.5% compared to the same quarter last year. During the same quarter last year, the firm earned $2.52 EPS. As a group, equities analysts anticipate that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Thursday, February 5th were issued a $0.25 dividend. The ex-dividend date was Thursday, February 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. KB Home’s dividend payout ratio is presently 20.37%.

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.