Great Lakes Advisors LLC Reduces Stake in KB Home (NYSE:KBH)

Great Lakes Advisors LLC lessened its stake in KB Home (NYSE:KBH - Free Report) by 6.9% in the 4th quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 101,621 shares of the construction company's stock after selling 7,490 shares during the quarter. Great Lakes Advisors LLC owned about 0.14% of KB Home worth $6,679,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. FMR LLC grew its holdings in KB Home by 47.9% in the 3rd quarter. FMR LLC now owns 5,411,255 shares of the construction company's stock valued at $463,690,000 after buying an additional 1,752,498 shares in the last quarter. State Street Corp grew its holdings in shares of KB Home by 1.3% in the third quarter. State Street Corp now owns 3,539,328 shares of the construction company's stock valued at $303,285,000 after purchasing an additional 45,311 shares during the period. Fisher Asset Management LLC grew its holdings in shares of KB Home by 3.4% in the fourth quarter. Fisher Asset Management LLC now owns 2,281,315 shares of the construction company's stock valued at $149,928,000 after purchasing an additional 75,143 shares during the period. Geode Capital Management LLC increased its position in KB Home by 0.9% during the third quarter. Geode Capital Management LLC now owns 1,938,359 shares of the construction company's stock worth $166,125,000 after purchasing an additional 16,593 shares during the last quarter. Finally, Holocene Advisors LP purchased a new position in KB Home during the third quarter worth about $89,899,000. Institutional investors and hedge funds own 96.09% of the company's stock.

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KB Home Stock Down 0.2 %

KBH traded down $0.10 during trading hours on Monday, hitting $60.54. 1,088,607 shares of the company's stock were exchanged, compared to its average volume of 1,386,744. 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 12-month low of $59.00 and a 12-month high of $89.70. The firm has a market cap of $4.33 billion, a P/E ratio of 7.15, a price-to-earnings-growth ratio of 0.90 and a beta of 1.89. The firm has a 50 day moving average of $64.62 and a 200 day moving average of $73.84.

KB Home (NYSE:KBH - Get Free Report) last announced its quarterly earnings data on Monday, January 13th. The construction company reported $2.52 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.44 by $0.08. KB Home had a return on equity of 16.46% and a net margin of 9.45%. The business had revenue of $2 billion for the quarter, compared to analysts' expectations of $1.99 billion. During the same period last year, the firm earned $1.85 earnings per share. The company's revenue for the quarter was up 19.5% compared to the same quarter last year. Analysts predict that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.65%. The ex-dividend date was Thursday, February 6th. KB Home's dividend payout ratio is presently 11.81%.

Analyst Ratings Changes

A number of analysts have recently issued reports on KBH shares. Wells Fargo & Company cut their price target on shares of KB Home from $65.00 to $63.00 and set an "underweight" rating for the company in a report on Monday, March 10th. Bank of America reduced their target price on KB Home from $76.00 to $71.00 and set a "neutral" rating on the stock in a research report on Monday, January 27th. Evercore ISI increased their price target on KB Home from $88.00 to $95.00 and gave the stock an "outperform" rating in a report on Tuesday, January 14th. Royal Bank of Canada upgraded shares of KB Home from an "underperform" rating to a "sector perform" rating and reduced their price objective for the company from $70.00 to $67.00 in a report on Friday, January 10th. Finally, UBS Group lowered their target price on shares of KB Home from $105.00 to $100.00 and set a "buy" rating for the company in a research note on Wednesday, January 8th. Two research analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have given a buy rating and one has issued a strong buy rating to the company's stock. According to MarketBeat, KB Home presently has a consensus rating of "Hold" and a consensus price target of $75.21.

Insider Buying and Selling

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the business'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 completion of the transaction, the chief financial officer now owns 34,473 shares in the company, valued at $2,370,708.21. The trade was a 44.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Insiders own 4.44% of the company's stock.

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.