Systematic Financial Management LP Sells 11,677 Shares of KB Home $KBH

Systematic Financial Management LP reduced its position in KB Home (NYSE:KBH) by 2.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 486,571 shares of the construction company’s stock after selling 11,677 shares during the quarter. Systematic Financial Management LP owned approximately 0.77% of KB Home worth $27,448,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently bought and sold shares of KBH. Freestone Grove Partners LP bought a new position in KB Home in the third quarter worth $111,050,000. Bank of America Corp DE lifted its position in KB Home by 36.4% in the third quarter. Bank of America Corp DE now owns 1,033,287 shares of the construction company’s stock worth $65,758,000 after purchasing an additional 275,965 shares during the period. Northwestern Mutual Wealth Management Co. lifted its position in KB Home by 48,100.3% in the fourth quarter. Northwestern Mutual Wealth Management Co. now owns 158,097 shares of the construction company’s stock worth $8,918,000 after purchasing an additional 157,769 shares during the period. UBS Group AG lifted its position in KB Home by 22.8% in the third quarter. UBS Group AG now owns 815,137 shares of the construction company’s stock worth $51,875,000 after purchasing an additional 151,202 shares during the period. Finally, Deprince Race & Zollo Inc. lifted its position in KB Home by 13.1% in the fourth quarter. Deprince Race & Zollo Inc. now owns 1,054,280 shares of the construction company’s stock worth $59,472,000 after purchasing an additional 122,457 shares during the period. 96.09% of the stock is owned by institutional investors.

KB Home Stock Up 1.3%

KB Home stock opened at $48.64 on Friday. The stock has a 50-day simple moving average of $51.26 and a 200 day simple moving average of $57.55. KB Home has a 12-month low of $44.03 and a 12-month high of $68.71. The stock has a market capitalization of $3.05 billion, a price-to-earnings ratio of 12.34, a P/E/G ratio of 8.58 and a beta of 1.42.

KB Home (NYSE:KBH) last released its quarterly earnings results on Tuesday, March 24th. The construction company reported $0.52 earnings per share (EPS) for the quarter, meeting analysts’ consensus estimates of $0.52. KB Home had a return on equity of 9.63% and a net margin of 5.96%.The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the business posted $1.49 earnings per share. The firm’s revenue for the quarter was down 22.6% compared to the same quarter last year. As a group, sell-side analysts anticipate that KB Home will post 3.1 EPS for the current year.

KB Home Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 7th were issued a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 2.1%. The ex-dividend date of this dividend was Thursday, May 7th. KB Home’s payout ratio is currently 25.38%.

Analysts Set New Price Targets

KBH has been the subject of several research reports. Citizens Jmp initiated coverage on KB Home in a research report on Tuesday, March 24th. They issued an “outperform” rating and a $77.00 target price for the company. Weiss Ratings downgraded shares of KB Home from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, May 7th. Truist Financial lowered their target price on shares of KB Home from $54.00 to $50.00 and set a “hold” rating on the stock in a report on Monday, May 4th. The Goldman Sachs Group lowered their target price on shares of KB Home from $65.00 to $56.00 and set a “neutral” rating on the stock in a report on Wednesday, March 25th. Finally, Wall Street Zen cut shares of KB Home from a “hold” rating to a “sell” rating in a research report on Saturday, April 11th. Three equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and three have issued a Sell rating to the company. According to MarketBeat, KB Home has a consensus rating of “Hold” and an average target price of $59.17.

KB Home Company 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.