Charles Schwab Investment Management Inc. Sells 13,056 Shares of KB Home (NYSE:KBH)

Charles Schwab Investment Management Inc. lowered its stake in KB Home (NYSE:KBH) by 1.4% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 893,180 shares of the construction company’s stock after selling 13,056 shares during the quarter. Charles Schwab Investment Management Inc. owned 1.24% of KB Home worth $58,700,000 at the end of the most recent reporting period.

Other hedge funds also recently modified their holdings of the company. Barclays PLC increased its stake in shares of KB Home by 24.5% in the 3rd quarter. Barclays PLC now owns 196,229 shares of the construction company’s stock valued at $16,816,000 after acquiring an additional 38,638 shares in the last quarter. Neo Ivy Capital Management acquired a new stake in KB Home in the 3rd quarter valued at $956,000. Blue Trust Inc. grew its position in KB Home by 35.9% in the 4th quarter. Blue Trust Inc. now owns 1,727 shares of the construction company’s stock valued at $113,000 after purchasing an additional 456 shares during the period. Cerity Partners LLC grew its position in KB Home by 24.7% in the 3rd quarter. Cerity Partners LLC now owns 38,742 shares of the construction company’s stock valued at $3,320,000 after purchasing an additional 7,679 shares during the period. Finally, RBA Wealth Management LLC grew its position in KB Home by 2.0% in the 4th quarter. RBA Wealth Management LLC now owns 62,683 shares of the construction company’s stock valued at $4,119,000 after purchasing an additional 1,244 shares during the period. Institutional investors own 96.09% of the company’s stock.

Insider Activity at KB Home

In related 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 value of $1,891,175.00. Following the sale, the chief financial officer now directly owns 34,473 shares in the company, valued at approximately $2,370,708.21. The trade was a 44.37 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 3.52% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

KBH has been the subject of several research reports. Evercore ISI lifted their price target on shares of KB Home from $88.00 to $95.00 and gave the company an “outperform” rating in a research report on Tuesday, January 14th. Raymond James reissued an “outperform” rating and issued a $80.00 price target (down previously from $93.00) on shares of KB Home in a research report on Tuesday, January 21st. The Goldman Sachs Group reduced their price target on shares of KB Home from $81.00 to $72.00 and set a “neutral” rating for the company in a research report on Friday, March 7th. Wells Fargo & Company cut their price objective on shares of KB Home from $65.00 to $63.00 and set an “underweight” rating on the stock in a report on Monday. Finally, JPMorgan Chase & Co. cut their price objective on shares of KB Home from $82.00 to $74.50 and set a “neutral” rating on the stock in a report on Wednesday, January 15th. Two analysts have rated the stock with a sell rating, eight have assigned a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, KB Home presently has an average rating of “Hold” and a consensus price target of $75.21.

KB Home Price Performance

Shares of NYSE:KBH opened at $61.44 on Thursday. The company’s 50-day moving average is $64.81 and its 200 day moving average is $74.24. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.83 and a current ratio of 5.51. The company has a market capitalization of $4.43 billion, a P/E ratio of 7.25, a price-to-earnings-growth ratio of 0.90 and a beta of 1.89. KB Home has a fifty-two week low of $59.00 and a fifty-two week high of $89.70.

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

KB Home Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Investors of record on Thursday, February 6th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.63%. The ex-dividend date of this dividend was Thursday, February 6th. KB Home’s dividend payout ratio is currently 11.81%.

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.