Skandinaviska Enskilda Banken AB publ Sells 228,100 Shares of KB Home (NYSE:KBH)

Skandinaviska Enskilda Banken AB publ lowered its stake in shares of KB Home (NYSE:KBH - Free Report) by 87.6% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 32,366 shares of the construction company's stock after selling 228,100 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in KB Home were worth $2,123,000 at the end of the most recent quarter.

A number of other large investors have also recently added to or reduced their stakes in the stock. Principal Securities Inc. lifted its holdings in shares of KB Home by 43.6% during the fourth quarter. Principal Securities Inc. now owns 590 shares of the construction company's stock worth $39,000 after buying an additional 179 shares during the last quarter. Blue Trust Inc. lifted its holdings in shares of KB Home by 15.3% during the fourth quarter. Blue Trust Inc. now owns 1,465 shares of the construction company's stock worth $96,000 after buying an additional 194 shares during the last quarter. Amundi lifted its holdings in shares of 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 during the last quarter. Jones Financial Companies Lllp lifted its holdings in shares of KB Home by 65.6% during the fourth quarter. Jones Financial Companies Lllp now owns 540 shares of the construction company's stock worth $36,000 after buying an additional 214 shares during the last quarter. Finally, US Bancorp DE lifted its holdings in shares of KB Home by 1.8% during the fourth quarter. US Bancorp DE now owns 12,691 shares of the construction company's stock worth $834,000 after buying an additional 227 shares during the last quarter. Institutional investors own 96.09% of the company's stock.

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Analysts Set New Price Targets

A number of research analysts recently commented on the company. Wells Fargo & Company cut their target price on KB Home from $65.00 to $63.00 and set an "underweight" rating for the company in a research note on Monday, March 10th. Royal Bank of Canada upgraded KB Home from an "underperform" rating to a "sector perform" rating and cut their target price for the company from $70.00 to $67.00 in a research note on Friday, January 10th. Evercore ISI upped their target price on KB Home from $88.00 to $95.00 and gave the company an "outperform" rating in a research note on Tuesday, January 14th. Keefe, Bruyette & Woods cut their target price on KB Home from $85.00 to $76.00 and set a "market perform" rating for the company in a research note on Friday, January 17th. Finally, JPMorgan Chase & Co. cut their target price 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. Two equities research analysts have rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and one has given a strong buy rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $75.21.

Insider Activity at KB Home

In related news, CFO Jeff Kaminski sold 27,500 shares of the firm's stock in a transaction dated 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 transaction, the chief financial officer now owns 34,473 shares in the company, valued at $2,370,708.21. This trade represents a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. 4.44% of the stock is owned by company insiders.

KB Home Price Performance

Shares of KBH stock traded down $0.31 during trading hours on Thursday, hitting $61.21. 1,202,983 shares of the company's stock were exchanged, compared to its average volume of 1,209,902. The stock's 50-day moving average is $64.37 and its 200-day moving average is $73.43. 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 stock has a market cap of $4.37 billion, a price-to-earnings ratio of 7.23, a price-to-earnings-growth ratio of 0.90 and a beta of 1.89. KB Home has a 52 week low of $59.00 and a 52 week high of $89.70.

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

KB Home Dividend Announcement

The firm also recently announced a quarterly dividend, which was paid on Thursday, February 20th. Stockholders 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 1.63%. The ex-dividend date was Thursday, February 6th. KB Home's payout ratio is presently 11.81%.

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.