Vestcor Inc Decreases Stake in KB Home (NYSE:KBH)

Vestcor Inc reduced its holdings in KB Home (NYSE:KBH) by 19.8% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,383 shares of the construction company’s stock after selling 2,817 shares during the period. Vestcor Inc’s holdings in KB Home were worth $748,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp raised its stake in KB Home by 65.6% during the fourth quarter. Jones Financial Companies Lllp now owns 540 shares of the construction company’s stock worth $36,000 after purchasing an additional 214 shares during the period. Principal Securities Inc. raised its stake in KB Home by 43.6% during the fourth quarter. Principal Securities Inc. now owns 590 shares of the construction company’s stock worth $39,000 after purchasing an additional 179 shares during the period. Versant Capital Management Inc raised its stake in KB Home by 275.7% during the fourth quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock worth $50,000 after purchasing an additional 557 shares during the period. Amundi raised its stake in KB Home by 29.6% during the fourth quarter. Amundi now owns 880 shares of the construction company’s stock worth $58,000 after purchasing an additional 201 shares during the period. Finally, Wilmington Savings Fund Society FSB purchased a new position in KB Home during the third quarter worth about $59,000. 96.09% of the stock is owned by hedge funds and other institutional investors.

KB Home Price Performance

NYSE:KBH opened at $60.59 on Monday. The firm has a market cap of $4.33 billion, a price-to-earnings ratio of 7.15, a price-to-earnings-growth ratio of 0.90 and a beta of 1.89. KB Home has a 12-month low of $59.00 and a 12-month high of $89.70. The company has a current ratio of 5.51, a quick ratio of 0.83 and a debt-to-equity ratio of 0.42. The company’s 50-day moving average is $64.62 and its two-hundred day moving average is $73.84.

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

KB Home Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $1.00 annualized dividend and a dividend yield of 1.65%. KB Home’s payout ratio is currently 11.81%.

Insider Transactions at KB Home

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the business’s stock in a transaction that occurred on Tuesday, January 28th. The shares were 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 directly owns 34,473 shares in the company, valued at $2,370,708.21. The trade was 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 through this hyperlink. Insiders own 4.44% of the company’s stock.

Analyst Upgrades and Downgrades

A number of equities analysts have commented on the stock. Seaport Res Ptn raised shares of KB Home from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. Keefe, Bruyette & Woods dropped their price target on shares of 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. JPMorgan Chase & Co. dropped their price target on shares of KB Home from $82.00 to $74.50 and set a “neutral” rating for the company in a research report on Wednesday, January 15th. Bank of America dropped their price target on shares of KB Home from $76.00 to $71.00 and set a “neutral” rating for the company in a research report on Monday, January 27th. Finally, Royal Bank of Canada upgraded shares of KB Home from an “underperform” rating to a “sector perform” rating and dropped their price target 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 assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and an average price target of $75.21.

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.