Arrowstreet Capital Limited Partnership Sells 719,957 Shares of KB Home (NYSE:KBH)

Arrowstreet Capital Limited Partnership decreased its position in shares of KB Home (NYSE:KBH - Free Report) by 44.2% during the 4th quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 910,033 shares of the construction company's stock after selling 719,957 shares during the quarter. Arrowstreet Capital Limited Partnership owned approximately 1.26% of KB Home worth $59,807,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. New Age Alpha Advisors LLC acquired a new position in shares of KB Home during the fourth quarter valued at $350,000. Norges Bank bought a new stake in KB Home during the 4th quarter worth about $49,638,000. Caisse Des Depots ET Consignations acquired a new position in KB Home during the 4th quarter valued at about $2,484,000. Homestead Advisers Corp boosted its stake in shares of KB Home by 11.4% in the 4th quarter. Homestead Advisers Corp now owns 30,300 shares of the construction company's stock valued at $1,991,000 after purchasing an additional 3,100 shares during the last quarter. Finally, JPMorgan Chase & Co. grew its position in shares of KB Home by 24.4% during the 4th 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 institutional investors.

KB Home Stock Up 3.6 %

NYSE KBH traded up $2.00 during trading hours on Friday, reaching $57.61. 1,784,974 shares of the company's stock were exchanged, compared to its average volume of 1,287,460. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.83 and a current ratio of 5.51. The company has a market capitalization of $4.12 billion, a price-to-earnings ratio of 6.80, a price-to-earnings-growth ratio of 0.90 and a beta of 1.65. The company's 50-day moving average is $62.45 and its two-hundred day moving average is $71.37. KB Home has a one year low of $54.02 and a one year high of $89.70.

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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 (EPS) for the quarter, missing the consensus estimate 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 return on equity of 16.46% and a net margin of 9.45%. The firm's revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the company earned $1.76 EPS. On average, analysts forecast that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Stockholders of record on Thursday, February 6th were issued a $0.25 dividend. The ex-dividend date of this dividend was Thursday, February 6th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.74%. KB Home's dividend payout ratio (DPR) is 12.20%.

Insider Transactions at KB Home

In related news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction that occurred on Tuesday, January 28th. The stock was sold at an average price of $68.77, for a total value of $1,891,175.00. Following the sale, 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 3.89% of the stock is owned by insiders.

Analyst Ratings Changes

Several equities analysts recently weighed in on KBH shares. Evercore ISI increased their price objective on shares of KB Home from $88.00 to $95.00 and gave the company an "outperform" rating in a report on Tuesday, January 14th. Wedbush reissued a "neutral" rating and issued a $75.00 price target on shares of KB Home in a research note on Tuesday, March 25th. JPMorgan Chase & Co. decreased their price objective 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. Wells Fargo & Company cut their target price on KB Home from $63.00 to $57.00 and set an "underweight" rating on the stock in a research note on Tuesday, March 25th. Finally, Raymond James restated an "outperform" rating and set a $80.00 target price (down previously from $93.00) on shares of KB Home in a report on Tuesday, January 21st. Three equities research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, KB Home presently has a consensus rating of "Hold" and a consensus target price of $71.21.

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.