California Public Employees Retirement System Sells 8,942 Shares of KB Home (NYSE:KBH)

California Public Employees Retirement System lessened its stake in KB Home (NYSE:KBH) by 6.0% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 140,838 shares of the construction company’s stock after selling 8,942 shares during the quarter. California Public Employees Retirement System owned about 0.20% of KB Home worth $9,256,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also added to or reduced their stakes in the stock. New Age Alpha Advisors LLC acquired a new position in shares of KB Home during the 4th quarter worth about $350,000. Norges Bank acquired a new position in KB Home during the fourth quarter valued at approximately $49,638,000. Caisse Des Depots ET Consignations bought a new stake in KB Home in the fourth quarter valued at approximately $2,484,000. Homestead Advisers Corp raised its holdings in KB Home by 11.4% in the fourth quarter. Homestead Advisers Corp now owns 30,300 shares of the construction company’s stock worth $1,991,000 after purchasing an additional 3,100 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in KB Home by 24.4% in the fourth quarter. JPMorgan Chase & Co. now owns 727,809 shares of the construction company’s stock worth $47,832,000 after purchasing an additional 142,913 shares during the period. Institutional investors own 96.09% of the company’s stock.

KB Home Stock Performance

Shares of KBH stock opened at $57.61 on Monday. KB Home has a 52 week low of $54.02 and a 52 week high of $89.70. The company has a market capitalization of $4.12 billion, a price-to-earnings ratio of 6.80, a PEG ratio of 0.90 and a beta of 1.65. The company has a 50-day simple moving average of $62.45 and a 200 day simple moving average of $71.37. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.83 and a current ratio of 5.51.

KB Home (NYSE:KBH) last issued its quarterly earnings data on Monday, March 24th. The construction company reported $1.49 earnings per share (EPS) for the quarter, missing the consensus estimate of $1.56 by ($0.07). KB Home had a return on equity of 16.46% and a net margin of 9.45%. The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.51 billion. During the same quarter last year, the business earned $1.76 earnings per share. The company’s revenue was down 5.2% on a year-over-year basis. On average, sell-side analysts predict that KB Home will post 8.42 earnings per share for the current year.

KB Home Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were paid 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 presently 12.20%.

Wall Street Analyst Weigh In

A number of analysts recently commented on KBH shares. The Goldman Sachs Group lowered their price objective on shares of KB Home from $81.00 to $72.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Evercore ISI upped their target price on shares of KB Home from $88.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 14th. Seaport Res Ptn upgraded KB Home from a “hold” rating to a “strong-buy” rating in a research note on Thursday, March 6th. UBS Group decreased their price target 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. Finally, Wells Fargo & Company decreased their price objective on shares of KB Home from $63.00 to $57.00 and set an “underweight” rating for the company in a research report on Tuesday, March 25th. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $71.21.

Insider Buying and Selling at KB Home

In other news, CFO Jeff Kaminski sold 27,500 shares of the business’s stock in a transaction dated 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 completion of the sale, the chief financial officer now owns 34,473 shares of the company’s stock, valued at approximately $2,370,708.21. The trade was a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Insiders own 3.89% of the company’s stock.

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.