Pictet Asset Management Holding SA Has $8.90 Million Stock Holdings in KB Home $KBH

Pictet Asset Management Holding SA decreased its position in shares of KB Home (NYSE:KBH) by 29.2% during the 1st quarter, Holdings Channel reports. The institutional investor owned 172,064 shares of the construction company’s stock after selling 71,052 shares during the quarter. Pictet Asset Management Holding SA’s holdings in KB Home were worth $8,904,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently modified their holdings of KBH. First Horizon Corp boosted its position in shares of KB Home by 178.9% in the fourth quarter. First Horizon Corp now owns 502 shares of the construction company’s stock valued at $28,000 after acquiring an additional 322 shares during the period. Parkside Financial Bank & Trust grew its stake in shares of KB Home by 73.1% in the fourth quarter. Parkside Financial Bank & Trust now owns 592 shares of the construction company’s stock valued at $33,000 after acquiring an additional 250 shares in the last quarter. Fulcrum Asset Management LLP bought a new position in KB Home during the third quarter worth about $36,000. Aventura Private Wealth LLC bought a new position in KB Home during the fourth quarter worth about $46,000. Finally, Rothschild Investment LLC raised its stake in KB Home by 391.0% in the 4th quarter. Rothschild Investment LLC now owns 820 shares of the construction company’s stock worth $46,000 after purchasing an additional 653 shares in the last quarter. Institutional investors and hedge funds own 96.09% of the company’s stock.

Wall Street Analyst Weigh In

KBH has been the subject of a number of recent research reports. Citizens Jmp reissued a “market outperform” rating and issued a $77.00 price objective on shares of KB Home in a report on Wednesday, June 24th. Bank of America lowered their target price on shares of KB Home from $63.00 to $56.00 and set a “neutral” rating on the stock in a report on Wednesday, March 25th. Truist Financial lifted their price target on shares of KB Home from $50.00 to $56.00 and gave the company a “hold” rating in a research report on Wednesday, June 24th. Wells Fargo & Company boosted their price target on KB Home from $50.00 to $52.00 and gave the company an “underweight” rating in a research note on Wednesday, June 24th. Finally, Royal Bank Of Canada reissued a “sector perform” rating and set a $53.00 price target on shares of KB Home in a research report on Wednesday, June 24th. Four analysts have rated the stock with a Buy rating, ten have issued a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, KB Home has a consensus rating of “Hold” and an average price target of $60.17.

KB Home Stock Down 0.1%

KBH opened at $61.13 on Friday. KB Home has a twelve month low of $44.03 and a twelve month high of $68.71. The company has a 50-day simple moving average of $52.52 and a 200 day simple moving average of $55.96. The stock has a market capitalization of $3.83 billion, a price-to-earnings ratio of 21.30, a P/E/G ratio of 10.29 and a beta of 1.34.

KB Home (NYSE:KBH) last announced its quarterly earnings data on Tuesday, June 23rd. The construction company reported $0.43 earnings per share (EPS) for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). KB Home had a return on equity of 7.67% and a net margin of 4.94%.The firm had revenue of $1.11 billion for the quarter, compared to analyst estimates of $1.09 billion. During the same quarter in the previous year, the company earned $1.50 earnings per share. The company’s quarterly revenue was down 27.3% on a year-over-year basis. Sell-side analysts anticipate that KB Home will post 3.25 EPS for the current fiscal year.

KB Home Dividend Announcement

The company also recently declared a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th were issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. The ex-dividend date of this dividend was Thursday, May 7th. KB Home’s dividend payout ratio is 34.84%.

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.