Varma Mutual Pension Insurance Co Sells 128,700 Shares of KB Home (NYSE:KBH)

Varma Mutual Pension Insurance Co reduced its position in shares of KB Home (NYSE:KBH - Free Report) by 52.5% in the second quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 116,300 shares of the construction company's stock after selling 128,700 shares during the quarter. Varma Mutual Pension Insurance Co owned 0.15% of KB Home worth $8,162,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of KBH. Norges Bank purchased a new position in KB Home in the fourth quarter worth about $36,761,000. Swedbank AB purchased a new stake in shares of KB Home during the 1st quarter worth $13,047,000. Assenagon Asset Management S.A. boosted its holdings in shares of KB Home by 190.8% in the 2nd quarter. Assenagon Asset Management S.A. now owns 104,708 shares of the construction company's stock valued at $7,348,000 after buying an additional 68,697 shares in the last quarter. WBI Investments LLC purchased a new position in KB Home in the second quarter worth $4,490,000. Finally, Acadian Asset Management LLC grew its stake in KB Home by 15,718.8% during the 1st quarter. Acadian Asset Management LLC now owns 63,275 shares of the construction company's stock worth $4,481,000 after buying an additional 62,875 shares during the last quarter. Hedge funds and other institutional investors own 96.09% of the company's stock.

KB Home Stock Up 0.6 %

Shares of KB Home stock traded up $0.46 during trading hours on Tuesday, hitting $80.50. 593,148 shares of the company's stock traded hands, compared to its average volume of 1,260,377. The stock has a 50 day simple moving average of $78.97 and a 200-day simple moving average of $71.90. KB Home has a twelve month low of $42.11 and a twelve month high of $88.31. The company has a market cap of $6.05 billion, a PE ratio of 10.65, a PEG ratio of 0.80 and a beta of 1.81.

KB Home (NYSE:KBH - Get Free Report) last posted its earnings results on Tuesday, June 18th. The construction company reported $2.15 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.78 by $0.37. The company had revenue of $1.71 billion for the quarter, compared to analysts' expectations of $1.64 billion. KB Home had a return on equity of 15.66% and a net margin of 9.43%. As a group, equities research analysts predict that KB Home will post 8.38 EPS for the current year.

KB Home Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 22nd. Shareholders of record on Thursday, August 8th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, August 8th. This represents a $1.00 annualized dividend and a yield of 1.24%. KB Home's dividend payout ratio (DPR) is 13.23%.

Analyst Upgrades and Downgrades

KBH has been the subject of a number of research reports. Wedbush lifted their target price on KB Home from $64.00 to $67.00 and gave the stock a "neutral" rating in a report on Thursday, June 20th. The Goldman Sachs Group raised their price target on shares of KB Home from $72.00 to $82.00 and gave the company a "neutral" rating in a research note on Tuesday, September 3rd. Wells Fargo & Company upped their target price on shares of KB Home from $70.00 to $80.00 and gave the stock an "equal weight" rating in a report on Monday. Evercore ISI upped their target price on KB Home from $86.00 to $89.00 and gave the company an "outperform" rating in a report on Monday, July 15th. Finally, Royal Bank of Canada cut KB Home from a "sector perform" rating to an "underperform" rating and set a $70.00 price objective on the stock. in a report on Thursday, September 5th. Three analysts have rated the stock with a sell rating, six have assigned a hold rating and five have assigned a buy rating to the company's stock. According to data from MarketBeat, the company currently has a consensus rating of "Hold" and an average target price of $73.71.

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.