Alliancebernstein L.P. Reduces Stake in KB Home (NYSE:KBH)

Alliancebernstein L.P. reduced its position in shares of KB Home (NYSE:KBH - Free Report) by 15.2% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 424,721 shares of the construction company's stock after selling 76,102 shares during the quarter. Alliancebernstein L.P. owned about 0.59% of KB Home worth $27,913,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in KBH. State Street Corp raised its position in shares of KB Home by 1.3% during the third quarter. State Street Corp now owns 3,539,328 shares of the construction company's stock worth $303,285,000 after purchasing an additional 45,311 shares during the period. Fisher Asset Management LLC raised its holdings in KB Home by 3.4% during the fourth quarter. Fisher Asset Management LLC now owns 2,281,315 shares of the construction company's stock worth $149,928,000 after buying an additional 75,143 shares during the last quarter. Geode Capital Management LLC raised its holdings 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 buying an additional 16,593 shares during the last quarter. Bank of New York Mellon Corp grew its holdings in shares of KB Home by 2.1% during the fourth quarter. Bank of New York Mellon Corp now owns 756,810 shares of the construction company's stock valued at $49,738,000 after buying an additional 15,867 shares during the last quarter. Finally, Norges Bank acquired a new position in shares of KB Home during the fourth quarter valued at about $49,638,000. Institutional investors own 96.09% of the company's stock.

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Insiders Place Their Bets

In related news, CFO Jeff Kaminski sold 27,500 shares of the company'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 sale, the chief financial officer now directly owns 34,473 shares in the company, valued at approximately $2,370,708.21. This represents a 44.37 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Company insiders own 3.89% of the company's stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on KBH. JPMorgan Chase & Co. dropped their price target on shares of KB Home from $82.00 to $74.50 and set a "neutral" rating on the stock in a research report on Wednesday, January 15th. The Goldman Sachs Group dropped their target price on KB Home from $81.00 to $72.00 and set a "neutral" rating on the stock in a report on Friday, March 7th. Wedbush reissued a "neutral" rating and issued a $75.00 price target on shares of KB Home in a research report on Tuesday, March 25th. Keefe, Bruyette & Woods cut their price objective on shares of KB Home from $76.00 to $65.00 and set a "market perform" rating on the stock in a report on Wednesday, March 26th. Finally, Barclays reduced their target price 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 research analysts have rated the stock with a sell rating, seven have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus price target of $71.21.

KB Home Stock Performance

Shares of KB Home stock traded down $0.68 on Friday, reaching $50.72. 2,917,078 shares of the company traded hands, compared to its average volume of 1,310,395. The company has a 50 day moving average of $60.36 and a 200 day moving average of $69.92. 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 firm has a market capitalization of $3.62 billion, a PE ratio of 5.99, a PEG ratio of 0.90 and a beta of 1.65.

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

KB Home Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.97%. The ex-dividend date of this dividend was Thursday, February 6th. KB Home's dividend payout ratio (DPR) is presently 12.20%.

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.