Swiss National Bank Sells 2,600 Shares of KB Home (NYSE:KBH)

Swiss National Bank lessened its stake in shares of KB Home (NYSE:KBH) by 1.8% in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 144,300 shares of the construction company’s stock after selling 2,600 shares during the period. Swiss National Bank owned approximately 0.20% of KB Home worth $9,483,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. FMR LLC increased its holdings in shares of KB Home by 47.9% in the 3rd quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock worth $463,690,000 after purchasing an additional 1,752,498 shares in the last quarter. State Street Corp lifted its position in KB Home by 1.3% during the third quarter. State Street Corp now owns 3,539,328 shares of the construction company’s stock valued at $303,285,000 after purchasing an additional 45,311 shares in the last quarter. Fisher Asset Management LLC lifted its position in KB Home by 3.4% during the fourth quarter. Fisher Asset Management LLC now owns 2,281,315 shares of the construction company’s stock valued at $149,928,000 after purchasing an additional 75,143 shares in the last quarter. Geode Capital Management LLC lifted its position in shares of KB Home by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,938,359 shares of the construction company’s stock valued at $166,125,000 after acquiring an additional 16,593 shares in the last quarter. Finally, Holocene Advisors LP purchased a new position in shares of KB Home in the third quarter valued at about $89,899,000. Institutional investors own 96.09% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have recently issued reports on the company. Wells Fargo & Company reduced their target price on KB Home from $65.00 to $63.00 and set an “underweight” rating on the stock in a report on Monday, March 10th. Bank of America reduced their price objective on KB Home from $76.00 to $71.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Keefe, Bruyette & Woods dropped their target price on KB Home from $85.00 to $76.00 and set a “market perform” rating for the company in a research report on Friday, January 17th. Barclays dropped their target price on KB Home from $85.00 to $60.00 and set an “equal weight” rating for the company in a research report on Tuesday, January 14th. Finally, Royal Bank of Canada upgraded KB Home from an “underperform” rating to a “sector perform” rating and dropped their target price for the company from $70.00 to $67.00 in a research report on Friday, January 10th. Two research analysts have rated the stock with a sell rating, eight have issued a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to MarketBeat.com, KB Home presently has a consensus rating of “Hold” and a consensus target price of $75.21.

KB Home Stock Down 2.7 %

KB Home stock opened at $59.61 on Friday. The business has a fifty day moving average of $64.22 and a two-hundred day moving average of $73.17. The company has a quick ratio of 0.83, a current ratio of 5.51 and a debt-to-equity ratio of 0.42. The firm has a market cap of $4.26 billion, a P/E ratio of 7.04, a P/E/G ratio of 0.90 and a beta of 1.89. KB Home has a twelve month low of $58.80 and a twelve month high of $89.70.

KB Home (NYSE:KBH) last posted its earnings results on Monday, January 13th. The construction company reported $2.52 earnings per share for the quarter, topping analysts’ consensus estimates of $2.44 by $0.08. The company had revenue of $2 billion during the quarter, compared to analyst estimates of $1.99 billion. KB Home had a return on equity of 16.46% and a net margin of 9.45%. KB Home’s revenue was up 19.5% on a year-over-year basis. During the same quarter in the prior year, the business earned $1.85 earnings per share. On average, analysts forecast that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, February 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.68%. KB Home’s dividend payout ratio is currently 11.81%.

Insiders Place Their Bets

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the company’s stock in a transaction on Tuesday, January 28th. The stock was sold at an average price of $68.77, for a total transaction of $1,891,175.00. Following the completion of the sale, the chief financial officer now owns 34,473 shares in the company, valued at $2,370,708.21. This represents a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.89% of the stock is owned by company insiders.

KB Home 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.