Wells Fargo & Company MN Reduces Position in KB Home (NYSE:KBH)

Wells Fargo & Company MN decreased its holdings in KB Home (NYSE:KBH) by 25.8% in the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 215,633 shares of the construction company’s stock after selling 74,871 shares during the quarter. Wells Fargo & Company MN owned 0.30% of KB Home worth $14,171,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Barclays PLC boosted its holdings in KB Home by 24.5% in the third quarter. Barclays PLC now owns 196,229 shares of the construction company’s stock worth $16,816,000 after purchasing an additional 38,638 shares during the last quarter. Blue Trust Inc. boosted its stake in shares of KB Home by 35.9% in the 4th quarter. Blue Trust Inc. now owns 1,727 shares of the construction company’s stock worth $113,000 after buying an additional 456 shares during the last quarter. RBA Wealth Management LLC grew its holdings in shares of KB Home by 2.0% in the fourth quarter. RBA Wealth Management LLC now owns 62,683 shares of the construction company’s stock worth $4,119,000 after acquiring an additional 1,244 shares during the period. Hennessy Advisors Inc. purchased a new stake in KB Home during the fourth quarter valued at $44,118,000. Finally, SG Americas Securities LLC lifted its holdings in KB Home by 109.3% in the fourth quarter. SG Americas Securities LLC now owns 9,195 shares of the construction company’s stock valued at $604,000 after acquiring an additional 4,801 shares during the period. Institutional investors own 96.09% of the company’s stock.

KB Home Stock Up 0.2 %

KBH opened at $51.02 on Tuesday. The company has a market capitalization of $3.65 billion, a PE ratio of 6.02, a price-to-earnings-growth ratio of 0.90 and a beta of 1.65. The firm has a 50-day simple moving average of $60.04 and a two-hundred day simple moving average of $69.58. 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 $48.90 and a 52 week high of $89.70.

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

KB Home Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were paid a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a yield of 1.96%. The ex-dividend date of this dividend was Thursday, February 6th. KB Home’s payout ratio is 12.20%.

Insider Buying and Selling at KB Home

In other news, CFO Jeff Kaminski sold 27,500 shares of the company’s stock in a transaction dated Tuesday, January 28th. The shares were sold at an average price of $68.77, for a total transaction 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 represents a 44.37 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.89% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities research analysts have recently commented on the stock. Bank of America reduced their price target on shares of KB Home from $67.00 to $62.00 and set a “neutral” rating for the company in a research report on Tuesday, March 25th. Royal Bank of Canada cut their price objective on shares of KB Home from $67.00 to $63.00 and set a “sector perform” rating for the company in a research report on Tuesday, March 25th. The Goldman Sachs Group lowered their target price on KB Home from $81.00 to $72.00 and set a “neutral” rating on the stock in a research report on Friday, March 7th. Evercore ISI upped their price target on KB Home from $88.00 to $95.00 and gave the stock an “outperform” rating in a research report on Tuesday, January 14th. Finally, Barclays lowered their price objective on KB Home from $60.00 to $56.00 and set an “equal weight” rating on the stock in a research report on Tuesday, March 25th. Three research analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company. According to MarketBeat.com, KB Home has a consensus rating of “Hold” and a consensus price target of $71.04.

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.