KB Home (NYSE:KBH) Shares Sold by Wedge Capital Management L L P NC

Wedge Capital Management L L P NC reduced its position in shares of KB Home (NYSE:KBH) by 5.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 22,725 shares of the construction company’s stock after selling 1,235 shares during the period. Wedge Capital Management L L P NC’s holdings in KB Home were worth $1,419,000 at the end of the most recent quarter.

A number of other hedge funds have also recently bought and sold shares of the company. Foundry Partners LLC grew its holdings in KB Home by 7.3% during the fourth quarter. Foundry Partners LLC now owns 88,070 shares of the construction company’s stock worth $5,501,000 after acquiring an additional 5,981 shares during the period. Knights of Columbus Asset Advisors LLC boosted its position in shares of KB Home by 94.6% in the 4th quarter. Knights of Columbus Asset Advisors LLC now owns 129,409 shares of the construction company’s stock valued at $8,083,000 after purchasing an additional 62,897 shares during the period. Federated Hermes Inc. boosted its position in shares of KB Home by 30.0% in the 4th quarter. Federated Hermes Inc. now owns 150,009 shares of the construction company’s stock valued at $9,370,000 after purchasing an additional 34,647 shares during the period. Daiwa Securities Group Inc. acquired a new position in shares of KB Home in the 4th quarter valued at $56,000. Finally, Scissortail Wealth Management LLC acquired a new position in shares of KB Home in the 4th quarter valued at $536,000. 96.09% of the stock is owned by institutional investors and hedge funds.

KB Home Price Performance

KBH opened at $64.25 on Friday. KB Home has a fifty-two week low of $40.97 and a fifty-two week high of $72.00. The business has a 50-day moving average of $66.10 and a 200-day moving average of $59.08. The company has a market capitalization of $4.87 billion, a PE ratio of 8.74, a price-to-earnings-growth ratio of 0.73 and a beta of 1.73.

KB Home (NYSE:KBH) last posted its quarterly earnings results on Wednesday, March 20th. The construction company reported $1.76 earnings per share for the quarter, topping analysts’ consensus estimates of $1.57 by $0.19. KB Home had a return on equity of 15.78% and a net margin of 9.29%. The company had revenue of $1.47 billion during the quarter, compared to the consensus estimate of $1.46 billion. During the same period last year, the business earned $1.45 EPS. The business’s quarterly revenue was up 6.5% on a year-over-year basis. On average, equities research analysts expect that KB Home will post 8.01 earnings per share for the current fiscal year.

KB Home Increases Dividend

The company also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Stockholders of record on Thursday, May 9th will be paid a dividend of $0.25 per share. The ex-dividend date is Wednesday, May 8th. This is an increase from KB Home’s previous quarterly dividend of $0.20. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.56%. KB Home’s dividend payout ratio (DPR) is 10.88%.

Insider Transactions at KB Home

In related news, CAO William R. Hollinger sold 45,471 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $60.47, for a total value of $2,749,631.37. Following the transaction, the chief accounting officer now directly owns 109,981 shares of the company’s stock, valued at approximately $6,650,551.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CAO William R. Hollinger sold 45,471 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The stock was sold at an average price of $60.47, for a total value of $2,749,631.37. Following the transaction, the chief accounting officer now directly owns 109,981 shares of the company’s stock, valued at approximately $6,650,551.07. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, EVP Brian J. Woram sold 83,272 shares of the firm’s stock in a transaction that occurred on Tuesday, January 30th. The shares were sold at an average price of $60.53, for a total value of $5,040,454.16. Following the completion of the transaction, the executive vice president now directly owns 156,119 shares in the company, valued at $9,449,883.07. The disclosure for this sale can be found here. Insiders sold 172,629 shares of company stock valued at $10,675,718 in the last three months. Corporate insiders own 4.44% of the company’s stock.

Wall Street Analysts Forecast Growth

KBH has been the subject of a number of recent analyst reports. Evercore ISI decreased their price target on KB Home from $82.00 to $78.00 and set an “outperform” rating for the company in a research report on Thursday, March 21st. Wells Fargo & Company increased their price target on KB Home from $65.00 to $70.00 and gave the company an “equal weight” rating in a research report on Thursday, March 21st. The Goldman Sachs Group increased their price target on KB Home from $61.00 to $70.00 and gave the company a “neutral” rating in a research report on Friday, March 22nd. Keefe, Bruyette & Woods raised their price objective on KB Home from $67.00 to $77.00 and gave the stock a “market perform” rating in a research report on Thursday, March 28th. Finally, JPMorgan Chase & Co. raised their price objective on KB Home from $68.50 to $70.50 and gave the stock a “neutral” rating in a research report on Wednesday, March 27th. One equities research analyst has rated the stock with a sell rating, seven have issued a hold rating and five have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $66.11.

KB Home Company Profile

KB Home operates as a homebuilding company in the United States. It operates through four segments: West Coast, Southwest, Central, and Southeast. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, second move-up, and active adult homebuyers.