Thrivent Financial for Lutherans Lowers Holdings in KB Home (NYSE:KBH)

Thrivent Financial for Lutherans reduced its stake in shares of KB Home (NYSE:KBH) by 6.6% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 16,573 shares of the construction company’s stock after selling 1,171 shares during the period. Thrivent Financial for Lutherans’ holdings in KB Home were worth $1,089,000 as of its most recent SEC filing.

Several other hedge funds have also modified their holdings of KBH. State Street Corp raised its stake in KB Home by 1.3% during the third quarter. State Street Corp now owns 3,539,328 shares of the construction company’s stock worth $303,285,000 after purchasing an additional 45,311 shares during the period. Fisher Asset Management LLC raised its position in shares of KB Home by 3.4% in the 4th quarter. Fisher Asset Management LLC now owns 2,281,315 shares of the construction company’s stock worth $149,928,000 after buying an additional 75,143 shares during the period. Geode Capital Management LLC raised its position in shares of KB Home by 0.9% in the 3rd quarter. Geode Capital Management LLC now owns 1,938,359 shares of the construction company’s stock worth $166,125,000 after buying an additional 16,593 shares during the period. Holocene Advisors LP acquired a new position in KB Home in the third quarter valued at $89,899,000. Finally, Bank of New York Mellon Corp grew its position in KB Home by 2.1% during the fourth quarter. Bank of New York Mellon Corp now owns 756,810 shares of the construction company’s stock valued at $49,738,000 after acquiring an additional 15,867 shares during the period. 96.09% of the stock is owned by institutional investors and hedge funds.

KB Home Stock Up 0.9 %

KBH stock opened at $58.24 on Tuesday. The company has a current ratio of 5.51, a quick ratio of 0.83 and a debt-to-equity ratio of 0.42. The firm has a 50 day simple moving average of $63.23 and a 200-day simple moving average of $72.19. The company has a market capitalization of $4.16 billion, a P/E ratio of 6.88, a PEG ratio of 0.90 and a beta of 1.89. KB Home has a twelve month low of $56.41 and a twelve month high of $89.70.

KB Home (NYSE:KBH) last announced its quarterly earnings data on Monday, March 24th. The construction company reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.07). The company had revenue of $1.39 billion for the quarter, compared to analyst estimates of $1.51 billion. KB Home had a return on equity of 16.46% and a net margin of 9.45%. KB Home’s revenue was down 5.2% on a year-over-year basis. During the same period in the prior year, the business earned $1.76 earnings per share. On average, equities research analysts predict that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.72%. The ex-dividend date of this dividend was Thursday, February 6th. KB Home’s payout ratio is currently 12.20%.

Insiders Place Their Bets

In other KB Home news, CFO Jeff Kaminski sold 27,500 shares of the stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $68.77, for a total transaction of $1,891,175.00. Following the sale, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at approximately $2,370,708.21. This represents a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 3.89% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on KBH shares. Barclays reduced their price objective on KB Home from $60.00 to $56.00 and set an “equal weight” rating on the stock in a research note on Tuesday, March 25th. Wells Fargo & Company reduced their target price on shares of KB Home from $63.00 to $57.00 and set an “underweight” rating on the stock in a report on Tuesday, March 25th. Wedbush reiterated a “neutral” rating and issued a $75.00 price target on shares of KB Home in a report on Tuesday, March 25th. Keefe, Bruyette & Woods reduced their price objective on KB Home from $76.00 to $65.00 and set a “market perform” rating on the stock in a research note on Wednesday, March 26th. Finally, Evercore ISI increased 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. Three research analysts have rated the stock with a sell rating, seven have issued a hold rating, three have given a buy rating and one has assigned a strong buy rating to the stock. According to MarketBeat, KB Home currently has a consensus rating of “Hold” and a consensus price target of $71.21.

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.