New York State Teachers Retirement System Sells 567 Shares of KB Home (NYSE:KBH)

New York State Teachers Retirement System reduced its stake in KB Home (NYSE:KBH) by 0.5% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 111,590 shares of the construction company’s stock after selling 567 shares during the quarter. New York State Teachers Retirement System owned 0.15% of KB Home worth $7,334,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in the stock. Financial Management Professionals Inc. bought a new stake in KB Home during the 3rd quarter worth about $32,000. Riggs Asset Managment Co. Inc. bought a new stake in shares of KB Home in the 3rd quarter valued at about $43,000. Versant Capital Management Inc raised its holdings 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. Wilmington Savings Fund Society FSB bought a new stake in shares of KB Home in the 3rd quarter valued at about $59,000. Finally, Banque Cantonale Vaudoise acquired a new position in KB Home in the 3rd quarter valued at about $61,000. 96.09% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of brokerages recently commented on KBH. Royal Bank of Canada upgraded shares of KB Home from an “underperform” rating to a “sector perform” rating and decreased their price target for the company from $70.00 to $67.00 in a research note on Friday, January 10th. 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 research report on Tuesday, January 21st. Barclays cut their price target on shares of KB Home from $85.00 to $60.00 and set an “equal weight” rating for the company in a report on Tuesday, January 14th. JPMorgan Chase & Co. cut their price target on shares of KB Home from $82.00 to $74.50 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Finally, Bank of America cut their price target on shares of KB Home from $76.00 to $71.00 and set a “neutral” rating for the company in a report on Monday, January 27th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and three have assigned a buy rating to the company. According to data from MarketBeat.com, KB Home currently has an average rating of “Hold” and a consensus price target of $76.21.

KB Home Stock Down 2.4 %

Shares of NYSE KBH opened at $62.14 on Thursday. The stock has a market capitalization of $4.48 billion, a P/E ratio of 7.34, a P/E/G ratio of 0.94 and a beta of 1.86. The company has a 50-day moving average price of $66.45 and a 200-day moving average price of $76.15. KB Home has a 1 year low of $60.26 and a 1 year high of $89.70. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.51 and a quick ratio of 0.83.

KB Home (NYSE:KBH) last issued its quarterly earnings data on Monday, January 13th. The construction company reported $2.52 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $2.44 by $0.08. The firm had revenue of $2 billion during the quarter, compared to analysts’ expectations of $1.99 billion. KB Home had a net margin of 9.45% and a return on equity of 16.46%. The business’s revenue was up 19.5% on a year-over-year basis. During the same period last year, the company earned $1.85 earnings per share. On average, equities research analysts forecast that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Thursday, February 20th. Investors of record on Thursday, February 6th will be given a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.61%. The ex-dividend date is Thursday, February 6th. KB Home’s payout ratio is currently 11.81%.

Insider Activity at KB Home

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction dated Tuesday, January 28th. The shares were 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. The trade was 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. 3.52% of the stock is owned by insiders.

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.