Alliancebernstein L.P. Reduces Stake in KB Home (NYSE:KBH)

Alliancebernstein L.P. lessened its stake in shares of KB Home (NYSE:KBH) by 15.2% during the 4th quarter, Holdings Channel reports. The fund owned 424,721 shares of the construction company’s stock after selling 76,102 shares during the quarter. Alliancebernstein L.P.’s holdings in KB Home were worth $27,913,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently modified their holdings of KBH. Janus Henderson Group PLC raised its stake in KB Home by 23.5% during the third quarter. Janus Henderson Group PLC now owns 69,843 shares of the construction company’s stock worth $5,984,000 after purchasing an additional 13,296 shares during the period. State Street Corp lifted its holdings in KB Home by 1.3% in the third quarter. State Street Corp now owns 3,539,328 shares of the construction company’s stock valued at $303,285,000 after acquiring an additional 45,311 shares during the last quarter. Zacks Investment Management grew its position in KB Home by 7.2% in the third quarter. Zacks Investment Management now owns 23,252 shares of the construction company’s stock worth $1,992,000 after acquiring an additional 1,564 shares during the period. XTX Topco Ltd acquired a new stake in KB Home during the third quarter worth $1,689,000. Finally, MML Investors Services LLC purchased a new stake in KB Home in the third quarter valued at $464,000. Institutional investors and hedge funds own 96.09% of the company’s stock.

KB Home Stock Performance

NYSE:KBH opened at $57.61 on Monday. The company has a market cap of $4.12 billion, a price-to-earnings ratio of 6.80, a price-to-earnings-growth ratio of 0.90 and a beta of 1.65. The company has a quick ratio of 0.83, a current ratio of 5.51 and a debt-to-equity ratio of 0.42. KB Home has a 52 week low of $54.02 and a 52 week high of $89.70. The company has a fifty day simple moving average of $62.45 and a two-hundred day simple moving average of $71.37.

KB Home (NYSE:KBH) last released its earnings results on Monday, March 24th. The construction company reported $1.49 EPS for the quarter, missing the consensus estimate of $1.56 by ($0.07). The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.51 billion. KB Home had a return on equity of 16.46% and a net margin of 9.45%. The company’s revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.76 earnings per share. As a group, equities analysts anticipate that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were issued a $0.25 dividend. The ex-dividend date was Thursday, February 6th. This represents a $1.00 annualized dividend and a yield of 1.74%. KB Home’s dividend payout ratio (DPR) is 12.20%.

Analyst Upgrades and Downgrades

A number of research firms have recently weighed in on KBH. Wedbush reiterated a “neutral” rating and set a $75.00 price target on shares of KB Home in a report on Tuesday, March 25th. UBS Group lowered their target price on shares of KB Home from $97.00 to $86.00 and set a “buy” rating for the company in a research note on Tuesday, March 25th. Royal Bank of Canada reduced their price target on shares of KB Home from $67.00 to $63.00 and set a “sector perform” rating on the stock in a research note on Tuesday, March 25th. Seaport Res Ptn upgraded shares of KB Home from a “hold” rating to a “strong-buy” rating in a report on Thursday, March 6th. Finally, Evercore ISI lifted their target price on shares of KB Home from $88.00 to $95.00 and gave the company an “outperform” rating in a report on Tuesday, January 14th. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $71.21.

Insider Buying and Selling

In other news, CFO Jeff Kaminski sold 27,500 shares of the firm’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $68.77, for a total value of $1,891,175.00. Following the sale, the chief financial officer now directly owns 34,473 shares in the company, valued at approximately $2,370,708.21. This trade represents a 44.37 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 3.89% of the stock is owned by 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.