Fmr LLC Has $311.76 Million Stake in KB Home (NYSE:KBH)

FMR LLC reduced its position in shares of KB Home (NYSE:KBH - Free Report) by 12.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 4,743,764 shares of the construction company's stock after selling 667,491 shares during the period. FMR LLC owned about 6.57% of KB Home worth $311,760,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in the company. Norges Bank purchased a new stake in shares of KB Home during the fourth quarter worth about $49,638,000. Hennessy Advisors Inc. acquired a new position in shares of KB Home in the 4th quarter valued at approximately $44,118,000. Raymond James Financial Inc. purchased a new position in shares of KB Home during the 4th quarter valued at approximately $12,288,000. Quantbot Technologies LP grew its position 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 worth $9,623,000 after buying an additional 142,922 shares in the last quarter. Finally, JPMorgan Chase & Co. increased its stake 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 last quarter. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

KB Home Stock Up 0.1 %

NYSE:KBH traded up $0.07 on Wednesday, hitting $51.11. 231,141 shares of the company's stock traded hands, compared to its average volume of 1,550,266. The company has a market cap of $3.67 billion, a PE ratio of 6.03, a price-to-earnings-growth ratio of 0.90 and a beta of 1.65. KB Home has a 1 year low of $48.90 and a 1 year high of $89.70. The company has a current ratio of 5.51, a quick ratio of 0.83 and a debt-to-equity ratio of 0.42. The firm has a 50-day moving average price of $59.73 and a 200-day moving average price of $69.45.

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KB Home (NYSE:KBH - Get Free Report) last announced its quarterly earnings data on Monday, March 24th. The construction company reported $1.49 EPS for the quarter, missing analysts' consensus estimates of $1.56 by ($0.07). KB Home had a net margin of 9.45% and a return on equity of 16.46%. The company had revenue of $1.39 billion for the quarter, compared to analysts' expectations of $1.51 billion. During the same period in the previous year, the firm posted $1.76 earnings per share. The business's revenue for the quarter was down 5.2% on a year-over-year basis. Equities analysts anticipate that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were given a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.96%. The ex-dividend date was Thursday, February 6th. KB Home's payout ratio is currently 12.20%.

Insider Transactions 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 of the company's stock, valued at approximately $2,370,708.21. This trade represents a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Company insiders own 3.89% of the company's stock.

Analysts Set New Price Targets

KBH has been the subject of several recent analyst reports. Seaport Res Ptn raised shares of KB Home from a "hold" rating to a "strong-buy" rating in a report on Thursday, March 6th. The Goldman Sachs Group lowered their price objective on KB Home from $81.00 to $72.00 and set a "neutral" rating for the company in a report on Friday, March 7th. StockNews.com downgraded shares of KB Home from a "hold" rating to a "sell" rating in a report on Wednesday, March 26th. Wedbush reissued a "neutral" rating and set a $75.00 target price on shares of KB Home in a report on Tuesday, March 25th. Finally, JPMorgan Chase & Co. decreased their target price on KB Home from $82.00 to $74.50 and set a "neutral" rating for the company in a research note on Wednesday, January 15th. Three analysts have rated the stock with a sell rating, seven have given a hold rating, three have assigned a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $71.04.

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.