KLP Kapitalforvaltning AS Makes New $5.31 Million Investment in KB Home (NYSE:KBH)

KLP Kapitalforvaltning AS purchased a new stake in KB Home (NYSE:KBH - Free Report) in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The firm purchased 80,800 shares of the construction company's stock, valued at approximately $5,310,000. KLP Kapitalforvaltning AS owned about 0.11% of KB Home as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also added to or reduced their stakes in KBH. Jones Financial Companies Lllp grew its position in KB Home by 65.6% during the 4th quarter. Jones Financial Companies Lllp now owns 540 shares of the construction company's stock worth $36,000 after purchasing an additional 214 shares during the period. Principal Securities Inc. grew its stake in shares of KB Home by 43.6% during the 4th quarter. Principal Securities Inc. now owns 590 shares of the construction company's stock worth $39,000 after purchasing an additional 179 shares during the period. Versant Capital Management Inc lifted its stake in shares of KB Home by 275.7% in the 4th quarter. Versant Capital Management Inc now owns 759 shares of the construction company's stock valued at $50,000 after purchasing an additional 557 shares during the period. Amundi boosted its holdings in KB Home by 29.6% during the fourth quarter. Amundi now owns 880 shares of the construction company's stock worth $58,000 after buying an additional 201 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new stake in KB Home during the third quarter valued at $59,000. Institutional investors and hedge funds own 96.09% of the company's stock.

Analyst Upgrades and Downgrades

A number of brokerages have weighed in on KBH. Evercore ISI upped their price objective on shares of KB Home from $88.00 to $95.00 and gave the stock an "outperform" rating in a research report on Tuesday, January 14th. Wedbush reaffirmed a "neutral" rating and issued a $75.00 price target on shares of KB Home in a report on Tuesday. JPMorgan Chase & Co. dropped their price objective on KB Home from $82.00 to $74.50 and set a "neutral" rating on the stock in a report on Wednesday, January 15th. Barclays cut their price objective on KB Home from $60.00 to $56.00 and set an "equal weight" rating for the company in a research report on Tuesday. Finally, UBS Group decreased their target price on KB Home from $97.00 to $86.00 and set a "buy" rating on the stock in a research report on Tuesday. Three investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has issued a strong buy rating to the company. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $71.21.

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KB Home Stock Down 2.4 %

Shares of NYSE KBH traded down $1.42 during midday trading on Friday, hitting $57.79. 1,201,420 shares of the company's stock were exchanged, compared to its average volume of 1,270,781. The firm's fifty day simple moving average is $63.43 and its 200-day simple moving average is $72.41. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.51 and a quick ratio of 0.83. The company has a market cap of $4.13 billion, a PE ratio of 6.82, a P/E/G ratio of 0.90 and a beta of 1.89. KB Home has a twelve month low of $56.41 and a twelve month high of $89.70.

KB Home (NYSE:KBH - Get Free Report) last released 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 analyst estimates 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 for the quarter was down 5.2% compared to the same quarter last year. During the same period in the previous year, the business posted $1.76 EPS. Research analysts predict that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Dividend Announcement

The company 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 dividend yield of 1.73%. The ex-dividend date of this dividend was Thursday, February 6th. KB Home's payout ratio is 12.20%.

Insider Transactions at KB Home

In other 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 directly owns 34,473 shares in the company, 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 SEC, which is accessible through this link. Insiders own 3.89% of the company's stock.

KB Home Company 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.