Handelsbanken Fonder AB Trims Stake in KB Home (NYSE:KBH)

Handelsbanken Fonder AB reduced its position in KB Home (NYSE:KBH) by 22.7% in the 4th quarter, Holdings Channel reports. The firm owned 17,074 shares of the construction company’s stock after selling 5,000 shares during the period. Handelsbanken Fonder AB’s holdings in KB Home were worth $1,122,000 as of its most recent filing with the SEC.

Several other institutional investors have also recently added to or reduced their stakes in KBH. Principal Securities Inc. grew its holdings in shares of KB Home by 43.6% in the 4th quarter. Principal Securities Inc. now owns 590 shares of the construction company’s stock worth $39,000 after acquiring an additional 179 shares during the period. Wilmington Savings Fund Society FSB acquired a new stake in shares of KB Home in the 3rd quarter worth approximately $59,000. Banque Cantonale Vaudoise acquired a new stake in shares of KB Home in the 3rd quarter worth approximately $61,000. Versant Capital Management Inc grew its holdings in shares of KB Home by 275.7% in the 4th quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock worth $50,000 after acquiring an additional 557 shares during the period. Finally, Quest Partners LLC grew its holdings in shares of KB Home by 101,600.0% in the 3rd quarter. Quest Partners LLC now owns 1,017 shares of the construction company’s stock worth $87,000 after acquiring an additional 1,016 shares during the period. Institutional investors and hedge funds own 96.09% of the company’s stock.

Insider Activity at KB Home

In related news, CFO Jeff Kaminski sold 27,500 shares of the firm’s stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 34,473 shares in the company, valued at $2,370,708.21. This trade represents a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 4.44% of the company’s stock.

KB Home Stock Performance

KBH opened at $61.01 on Friday. The business’s 50 day moving average is $65.48 and its 200-day moving average is $75.46. The stock has a market cap of $4.40 billion, a PE ratio of 7.20, a price-to-earnings-growth ratio of 0.90 and a beta of 1.86. The company has a current ratio of 5.51, a quick ratio of 0.83 and a debt-to-equity ratio of 0.42. KB Home has a twelve month low of $59.89 and a twelve month high of $89.70.

KB Home (NYSE:KBH) last released its quarterly earnings results on Monday, January 13th. The construction company reported $2.52 earnings per share for the quarter, beating analysts’ consensus estimates of $2.44 by $0.08. The company had revenue of $2 billion for the quarter, compared to analysts’ expectations of $1.99 billion. KB Home had a return on equity of 16.46% and a net margin of 9.45%. The business’s revenue for the quarter was up 19.5% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.85 earnings per share. On average, analysts predict that KB Home will post 8.42 earnings per share for the current year.

KB Home Dividend Announcement

The business also recently disclosed 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. The ex-dividend date was Thursday, February 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.64%. KB Home’s dividend payout ratio is presently 11.81%.

Analysts Set New Price Targets

A number of research firms recently issued reports on KBH. JPMorgan Chase & Co. reduced their target price on KB Home from $82.00 to $74.50 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Keefe, Bruyette & Woods reduced their price target on KB Home from $85.00 to $76.00 and set a “market perform” rating on the stock in a research note on Friday, January 17th. Wells Fargo & Company reduced their price target on KB Home from $70.00 to $65.00 and set an “underweight” rating on the stock in a research note on Tuesday, January 28th. Bank of America reduced their price target on KB Home from $76.00 to $71.00 and set a “neutral” rating on the stock in a research note on Monday, January 27th. Finally, Evercore ISI upped their price objective on KB Home from $88.00 to $95.00 and gave the stock an “outperform” rating in a report on Tuesday, January 14th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and three have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus target price of $76.21.

KB Home Company 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.