Louisiana State Employees Retirement System Sells 500 Shares of KB Home (NYSE:KBH)

Louisiana State Employees Retirement System lessened its holdings in shares of KB Home (NYSE:KBH) by 2.5% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 19,500 shares of the construction company’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in KB Home were worth $1,282,000 at the end of the most recent quarter.

Several other large investors also recently made changes to their positions in the stock. Financial Management Professionals Inc. acquired a new position in shares of KB Home during the 3rd quarter worth about $32,000. Riggs Asset Managment Co. Inc. bought a new position in shares of KB Home during the 3rd quarter worth approximately $43,000. Versant Capital Management Inc increased its holdings in shares of KB Home by 275.7% during the 4th quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock worth $50,000 after acquiring an additional 557 shares during the last quarter. Wilmington Savings Fund Society FSB bought a new stake in KB Home in the 3rd quarter valued at $59,000. Finally, Banque Cantonale Vaudoise bought a new stake in KB Home in the 3rd quarter valued at $61,000. Institutional investors own 96.09% of the company’s stock.

Analyst Ratings Changes

Several research firms have commented on KBH. Raymond James reiterated an “outperform” rating and issued a $80.00 price objective (down from $93.00) on shares of KB Home in a report on Tuesday, January 21st. Bank of America lowered their price target on shares of KB Home from $76.00 to $71.00 and set a “neutral” rating on the stock in a report on Monday, January 27th. UBS Group reduced their price objective on KB Home from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Evercore ISI increased their target price on KB Home from $88.00 to $95.00 and gave the stock an “outperform” rating in a research note on Tuesday, January 14th. Finally, Seaport Res Ptn upgraded KB Home from a “strong sell” rating to a “hold” rating in a research note on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and three have assigned a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and an average target price of $76.21.

KB Home Stock Performance

KBH opened at $64.96 on Monday. The firm has a market cap of $4.69 billion, a P/E ratio of 7.67, a price-to-earnings-growth ratio of 0.96 and a beta of 1.86. The business’s fifty day moving average is $67.25 and its 200-day moving average is $76.50. KB Home has a 52-week low of $60.26 and a 52-week high of $89.70. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.83 and a current ratio of 5.51.

KB Home (NYSE:KBH) last released its earnings results on Monday, January 13th. The construction company reported $2.52 EPS for the quarter, beating the consensus estimate of $2.44 by $0.08. The firm had revenue of $2 billion for the quarter, compared to analyst estimates of $1.99 billion. KB Home had a net margin of 9.45% and a return on equity of 16.46%. The business’s quarterly revenue was up 19.5% compared to the same quarter last year. During the same period last year, the firm earned $1.85 EPS. Sell-side analysts expect 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 will be paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th will be given a dividend of $0.25 per share. The ex-dividend date of this dividend is Thursday, February 6th. This represents a $1.00 annualized dividend and a yield of 1.54%. KB Home’s dividend payout ratio is currently 11.81%.

Insiders Place Their Bets

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the business’s stock in a transaction dated Tuesday, January 28th. The stock was sold at an average price of $68.77, for a total transaction of $1,891,175.00. Following the completion of the transaction, the chief financial officer now owns 34,473 shares of the company’s stock, valued at approximately $2,370,708.21. The trade was a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 4.44% of the company’s stock.

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.