Retirement Systems of Alabama trimmed its holdings in shares of KB Home (NYSE:KBH – Get Rating) by 1.0% during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 109,475 shares of the construction company’s stock after selling 1,129 shares during the period. Retirement Systems of Alabama owned approximately 0.13% of KB Home worth $3,487,000 as of its most recent filing with the Securities and Exchange Commission.
Other institutional investors and hedge funds have also recently bought and sold shares of the company. Pacer Advisors Inc. bought a new position in shares of KB Home during the fourth quarter worth about $701,000. Parallel Advisors LLC boosted its holdings in KB Home by 45.4% during the fourth quarter. Parallel Advisors LLC now owns 922 shares of the construction company’s stock worth $29,000 after purchasing an additional 288 shares during the last quarter. Lisanti Capital Growth LLC purchased a new stake in KB Home during the fourth quarter valued at about $3,909,000. Fisher Asset Management LLC grew its position in KB Home by 4.4% during the fourth quarter. Fisher Asset Management LLC now owns 2,833,760 shares of the construction company’s stock worth $90,255,000 after buying an additional 119,612 shares in the last quarter. Finally, Bailard Inc. purchased a new stake in KB Home during the fourth quarter valued at about $258,000. Institutional investors own 89.29% of the company’s stock.
Wall Street Analyst Weigh In
A number of research firms have commented on KBH. JPMorgan Chase & Co. raised shares of KB Home from an “underweight” rating to a “neutral” rating and lifted their target price for the stock from $32.50 to $42.50 in a research report on Friday, March 24th. Keefe, Bruyette & Woods increased their price target on KB Home from $45.00 to $47.00 and gave the stock a “market perform” rating in a research report on Tuesday, March 28th. StockNews.com started coverage on KB Home in a research report on Thursday, March 16th. They issued a “hold” rating for the company. TheStreet raised KB Home from a “c+” rating to a “b-” rating in a research report on Wednesday, January 18th. Finally, UBS Group increased their price objective on KB Home from $45.00 to $48.00 and gave the stock a “buy” rating in a report on Thursday, March 23rd. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat, KB Home presently has an average rating of “Hold” and an average target price of $40.27.
KB Home Stock Up 1.5 %
KB Home (NYSE:KBH – Get Rating) last issued its quarterly earnings data on Wednesday, March 22nd. The construction company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.05 by $0.40. The business had revenue of $1.38 billion during the quarter, compared to analysts’ expectations of $1.30 billion. KB Home had a net margin of 11.73% and a return on equity of 22.86%. The business’s revenue was down 1.4% on a year-over-year basis. During the same period last year, the company posted $1.47 EPS. As a group, sell-side analysts anticipate that KB Home will post 5.14 earnings per share for the current year.
KB Home Dividend Announcement
The business also recently announced a quarterly dividend, which will be paid on Thursday, May 18th. Shareholders of record on Thursday, May 4th will be issued a dividend of $0.15 per share. The ex-dividend date of this dividend is Wednesday, May 3rd. This represents a $0.60 dividend on an annualized basis and a yield of 1.36%. KB Home’s dividend payout ratio is currently 6.59%.
KB Home announced that its Board of Directors has approved a share buyback program on Wednesday, March 22nd that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to reacquire up to 15.2% of its shares through open market purchases. Shares buyback programs are often an indication that the company’s board believes its stock is undervalued.
About KB Home
KB Home engages in selling and building a variety of new homes. It builds various types of homes, including attached and detached single-family homes, townhomes, and condominiums. The firm operates through the following segments: West Coast, Southwest, Central, and Southeast. It offer homes in development communities, at urban in-fill locations and as part of mixed-use projects.
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