New York State Common Retirement Fund Sells 6,618 Shares of KB Home (NYSE:KBH)

New York State Common Retirement Fund lessened its holdings in shares of KB Home (NYSE:KBH) by 17.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 31,103 shares of the construction company’s stock after selling 6,618 shares during the period. New York State Common Retirement Fund’s holdings in KB Home were worth $1,943,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. Fifth Third Bancorp lifted its position in KB Home by 40.9% during the 3rd quarter. Fifth Third Bancorp now owns 930 shares of the construction company’s stock valued at $43,000 after acquiring an additional 270 shares during the period. Daiwa Securities Group Inc. bought a new stake in shares of KB Home in the 4th quarter worth approximately $56,000. Whittier Trust Co. bought a new stake in shares of KB Home in the 4th quarter worth approximately $62,000. CI Investments Inc. purchased a new stake in shares of KB Home in the 3rd quarter worth approximately $145,000. Finally, NBC Securities Inc. bought a new position in KB Home during the 3rd quarter valued at approximately $196,000. Institutional investors own 96.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on KBH shares. UBS Group increased their target price on KB Home from $82.00 to $87.00 and gave the stock a “buy” rating in a research note on Thursday, March 21st. The Goldman Sachs Group raised their price objective on shares of KB Home from $61.00 to $70.00 and gave the company a “neutral” rating in a research note on Friday, March 22nd. Wells Fargo & Company upped their target price on shares of KB Home from $65.00 to $70.00 and gave the stock an “equal weight” rating in a research note on Thursday, March 21st. Evercore ISI reduced their price target on shares of KB Home from $82.00 to $78.00 and set an “outperform” rating for the company in a research report on Thursday, March 21st. Finally, StockNews.com lowered shares of KB Home from a “buy” rating to a “hold” rating in a report on Wednesday, April 10th. One investment analyst has rated the stock with a sell rating, seven have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, KB Home has an average rating of “Hold” and a consensus target price of $66.11.

KB Home Stock Performance

KB Home stock opened at $69.37 on Thursday. KB Home has a one year low of $42.11 and a one year high of $72.00. The stock has a fifty day moving average of $66.95 and a 200 day moving average of $60.66. The stock has a market cap of $5.26 billion, a PE ratio of 9.44, a price-to-earnings-growth ratio of 0.78 and a beta of 1.74.

KB Home (NYSE:KBH) last released its quarterly earnings results on Wednesday, March 20th. The construction company reported $1.76 EPS for the quarter, beating the consensus estimate of $1.57 by $0.19. The firm had revenue of $1.47 billion during the quarter, compared to analyst estimates of $1.46 billion. KB Home had a net margin of 9.29% and a return on equity of 15.78%. The business’s revenue for the quarter was up 6.5% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.45 EPS. As a group, sell-side analysts predict that KB Home will post 8.01 EPS for the current fiscal year.

KB Home Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, May 23rd. Shareholders of record on Thursday, May 9th will be given a $0.25 dividend. 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 annualized dividend and a yield of 1.44%. KB Home’s dividend payout ratio (DPR) is presently 13.61%.

Insider Transactions at KB Home

In other news, CFO Jeff Kaminski sold 38,386 shares of the company’s stock in a transaction on Tuesday, April 9th. The stock was sold at an average price of $66.56, for a total value of $2,554,972.16. Following the completion of the sale, the chief financial officer now directly owns 34,473 shares in the company, valued at approximately $2,294,522.88. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 3.52% of the company’s stock.

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.