California Public Employees Retirement System Reduces Holdings in KB Home (NYSE:KBH)

California Public Employees Retirement System cut its stake in shares of KB Home (NYSE:KBH - Free Report) by 6.0% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 140,838 shares of the construction company's stock after selling 8,942 shares during the period. California Public Employees Retirement System owned 0.20% of KB Home worth $9,256,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also added to or reduced their stakes in KBH. Norges Bank purchased a new position in shares of KB Home during the 4th quarter worth about $49,638,000. Hennessy Advisors Inc. purchased a new position in shares of KB Home during the fourth quarter valued at approximately $44,118,000. Raymond James Financial Inc. purchased a new position in shares of KB Home during the fourth quarter valued at approximately $12,288,000. Quantbot Technologies LP grew its stake in shares of KB Home by 4,083.5% during the fourth quarter. Quantbot Technologies LP now owns 146,422 shares of the construction company's stock valued at $9,623,000 after buying an additional 142,922 shares during the last quarter. Finally, JPMorgan Chase & Co. raised its holdings in shares of 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 buying an additional 142,913 shares during the period. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

KB Home Stock Down 1.3 %

NYSE KBH traded down $0.68 during midday trading on Friday, hitting $50.72. 2,917,078 shares of the company traded hands, compared to its average volume of 1,310,395. The company has a market cap of $3.62 billion, a PE ratio of 5.99, a price-to-earnings-growth ratio of 0.90 and a beta of 1.65. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.51 and a quick ratio of 0.83. KB Home has a 52 week low of $48.90 and a 52 week high of $89.70. The company's 50-day simple moving average is $60.36 and its 200-day simple moving average is $69.92.

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KB Home (NYSE:KBH - Get Free Report) last issued its quarterly earnings data on Monday, March 24th. The construction company reported $1.49 earnings per share for the quarter, missing analysts' consensus estimates of $1.56 by ($0.07). The company had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.51 billion. KB Home had a net margin of 9.45% and a return on equity of 16.46%. KB Home'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 business earned $1.76 EPS. As a group, equities research analysts forecast that KB Home will post 8.42 earnings per share for the current year.

KB Home Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.97%. The ex-dividend date was Thursday, February 6th. KB Home's payout ratio is currently 12.20%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the company. Wells Fargo & Company cut their price objective on KB Home from $63.00 to $57.00 and set an "underweight" rating on the stock in a research report 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. Bank of America lowered their price objective 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. Wedbush reaffirmed a "neutral" rating and set a $75.00 target price on shares of KB Home in a research report on Tuesday, March 25th. Finally, Barclays decreased their price target on shares of KB Home from $60.00 to $56.00 and set an "equal weight" rating for the company in a research note on Tuesday, March 25th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and a consensus target price of $71.21.

Insider Activity at KB Home

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of KB Home 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 transaction, the chief financial officer now directly 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 3.89% of the stock is currently owned by corporate insiders.

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.