Retirement Systems of Alabama Boosts Holdings in KB Home $KBH

Retirement Systems of Alabama boosted its position in KB Home (NYSE:KBH) by 3.8% during the 2nd quarter, HoldingsChannel.com reports. The firm owned 87,675 shares of the construction company’s stock after purchasing an additional 3,209 shares during the quarter. Retirement Systems of Alabama’s holdings in KB Home were worth $4,644,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Assetmark Inc. lifted its stake in KB Home by 7.0% in the 2nd quarter. Assetmark Inc. now owns 67,588 shares of the construction company’s stock worth $3,580,000 after purchasing an additional 4,442 shares in the last quarter. Hantz Financial Services Inc. lifted its stake in KB Home by 1,125.9% in the 2nd quarter. Hantz Financial Services Inc. now owns 1,986 shares of the construction company’s stock worth $105,000 after purchasing an additional 1,824 shares in the last quarter. Signature Wealth Management Group lifted its stake in KB Home by 2.5% in the 2nd quarter. Signature Wealth Management Group now owns 33,380 shares of the construction company’s stock worth $1,768,000 after purchasing an additional 806 shares in the last quarter. MQS Management LLC purchased a new stake in KB Home in the 2nd quarter worth approximately $327,000. Finally, State of New Jersey Common Pension Fund D lifted its stake in KB Home by 16.1% in the 2nd quarter. State of New Jersey Common Pension Fund D now owns 36,764 shares of the construction company’s stock worth $1,947,000 after purchasing an additional 5,108 shares in the last quarter. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

KB Home Stock Performance

KBH stock opened at $60.91 on Wednesday. KB Home has a 52 week low of $48.90 and a 52 week high of $85.66. The firm’s fifty day moving average is $63.26 and its 200 day moving average is $58.04. The firm has a market cap of $3.95 billion, a P/E ratio of 8.07, a P/E/G ratio of 5.17 and a beta of 1.40.

KB Home (NYSE:KBH) last released its earnings results on Wednesday, September 24th. The construction company reported $1.61 EPS for the quarter, beating the consensus estimate of $1.50 by $0.11. KB Home had a net margin of 7.92% and a return on equity of 12.91%. The company had revenue of $1.62 billion for the quarter, compared to analyst estimates of $1.59 billion. During the same quarter last year, the firm earned $2.04 EPS. The firm’s quarterly revenue was down 7.4% compared to the same quarter last year. As a group, analysts forecast that KB Home will post 8.42 EPS for the current year.

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, November 26th. Investors of record on Thursday, November 13th will be issued a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, November 13th. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. KB Home’s dividend payout ratio (DPR) is currently 13.25%.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on the stock. UBS Group reissued a “buy” rating and issued a $83.00 price target on shares of KB Home in a report on Thursday, September 25th. Royal Bank Of Canada increased their price target on shares of KB Home from $58.00 to $59.00 and gave the stock a “sector perform” rating in a report on Thursday, September 25th. Zacks Research raised shares of KB Home from a “strong sell” rating to a “hold” rating in a report on Friday, September 5th. Bank of America decreased their price target on shares of KB Home from $67.00 to $62.00 and set a “neutral” rating on the stock in a report on Friday, October 10th. Finally, Oppenheimer assumed coverage on shares of KB Home in a report on Wednesday, September 3rd. They issued a “market perform” rating on the stock. One research analyst has rated the stock with a Strong Buy rating, two have issued a Buy rating, eleven have issued a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average price target of $64.36.

About KB Home

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.