Hsbc Holdings PLC Lowers Stock Holdings in KB Home $KBH

Hsbc Holdings PLC reduced its stake in KB Home (NYSE:KBH) by 75.6% during the first quarter, Holdings Channel.com reports. The fund owned 8,253 shares of the construction company’s stock after selling 25,523 shares during the quarter. Hsbc Holdings PLC’s holdings in KB Home were worth $424,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of KBH. Freestone Grove Partners LP bought a new stake in shares of KB Home during the third quarter valued at approximately $111,050,000. Norges Bank bought a new position in KB Home in the fourth quarter worth approximately $48,418,000. Donald Smith & CO. Inc. grew its stake in KB Home by 387.8% in the fourth quarter. Donald Smith & CO. Inc. now owns 725,394 shares of the construction company’s stock worth $40,919,000 after purchasing an additional 576,694 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in KB Home by 102.4% during the 4th quarter. Goldman Sachs Group Inc. now owns 932,178 shares of the construction company’s stock worth $52,584,000 after purchasing an additional 471,598 shares during the period. Finally, Engineers Gate Manager LP increased its holdings in KB Home by 519.2% during the 4th quarter. Engineers Gate Manager LP now owns 353,739 shares of the construction company’s stock worth $19,954,000 after purchasing an additional 296,615 shares during the period. 96.09% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on KBH. Citizens Jmp reaffirmed a “market outperform” rating and set a $77.00 target price on shares of KB Home in a research report on Wednesday, June 24th. Seaport Research Partners restated a “sell” rating and set a $43.00 price target (down from $65.00) on shares of KB Home in a research note on Tuesday, April 7th. Wells Fargo & Company raised 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. Royal Bank Of Canada restated a “sector perform” rating and issued a $53.00 price objective on shares of KB Home in a report on Wednesday, June 24th. Finally, Citigroup reaffirmed a “market outperform” rating on shares of KB Home in a research note on Wednesday, June 17th. Four research analysts have rated the stock with a Buy rating, eleven have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat, KB Home has an average rating of “Hold” and an average price target of $60.17.

KB Home Stock Down 2.4%

KB Home stock opened at $54.98 on Friday. The firm has a market cap of $3.37 billion, a P/E ratio of 19.16, a P/E/G ratio of 9.11 and a beta of 1.34. The business has a fifty day moving average of $55.30 and a two-hundred day moving average of $55.67. KB Home has a twelve month low of $44.03 and a twelve month high of $68.71.

KB Home (NYSE:KBH) last announced its quarterly earnings results 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 net margin of 4.94% and a return on equity of 7.67%. The company had revenue of $1.11 billion during the quarter, compared to analysts’ expectations of $1.09 billion. During the same quarter in the prior year, the business posted $1.50 earnings per share. The company’s revenue was down 27.3% compared to the same quarter last year. Equities analysts expect that KB Home will post 3.3 earnings per share for the current year.

KB Home Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, August 20th. Investors of record on Thursday, August 6th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, August 6th. This represents a $1.00 dividend on an annualized basis and a yield of 1.8%. KB Home’s dividend payout ratio (DPR) is presently 34.84%.

About KB Home

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.