New York State Teachers Retirement System increased its position in KB Home (NYSE:KBH) by 2.5% in the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 158,349 shares of the construction company’s stock after acquiring an additional 3,900 shares during the period. New York State Teachers Retirement System owned about 0.18% of KB Home worth $3,024,000 at the end of the most recent reporting period.
A number of other hedge funds and other institutional investors have also recently made changes to their positions in the stock. Zurcher Kantonalbank Zurich Cantonalbank grew its stake in KB Home by 181.2% in the 4th quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 12,281 shares of the construction company’s stock worth $235,000 after acquiring an additional 7,914 shares in the last quarter. Fisher Asset Management LLC boosted its stake in shares of KB Home by 0.6% during the fourth quarter. Fisher Asset Management LLC now owns 3,321,909 shares of the construction company’s stock valued at $63,448,000 after purchasing an additional 18,369 shares in the last quarter. Zweig DiMenna Associates LLC purchased a new stake in KB Home during the fourth quarter valued at approximately $19,051,000. Bank of Montreal Can lifted its position in KB Home by 11.5% during the fourth quarter. Bank of Montreal Can now owns 192,401 shares of the construction company’s stock valued at $3,675,000 after acquiring an additional 19,780 shares during the last quarter. Finally, Bowling Portfolio Management LLC lifted its position in KB Home by 7.4% during the fourth quarter. Bowling Portfolio Management LLC now owns 80,472 shares of the construction company’s stock valued at $1,537,000 after acquiring an additional 5,538 shares during the last quarter. Institutional investors own 87.36% of the company’s stock.
A number of equities research analysts recently commented on the stock. Credit Suisse Group reissued a “sell” rating and set a $17.00 target price on shares of KB Home in a research report on Thursday, January 10th. Royal Bank of Canada set a $23.00 price target on shares of KB Home and gave the company a “hold” rating in a research report on Thursday, November 15th. Buckingham Research initiated coverage on shares of KB Home in a research report on Friday, January 11th. They set a “neutral” rating on the stock. Zacks Investment Research lowered shares of KB Home from a “hold” rating to a “strong sell” rating in a research report on Monday, January 14th. Finally, Barclays set a $20.00 price target on shares of KB Home and gave the company a “hold” rating in a research report on Wednesday, December 12th. Four equities research analysts have rated the stock with a sell rating, ten have given a hold rating and six have assigned a buy rating to the stock. The stock has a consensus rating of “Hold” and a consensus target price of $26.13.
KB Home (NYSE:KBH) last released its quarterly earnings results on Wednesday, January 9th. The construction company reported $0.96 EPS for the quarter, beating the consensus estimate of $0.93 by $0.03. KB Home had a net margin of 3.75% and a return on equity of 14.31%. The firm had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. During the same quarter in the prior year, the firm earned $0.84 EPS. KB Home’s revenue for the quarter was down 3.8% on a year-over-year basis. As a group, research analysts expect that KB Home will post 2.67 earnings per share for the current year.
The firm also recently declared a quarterly dividend, which will be paid on Thursday, February 21st. Investors of record on Thursday, February 7th will be given a $0.025 dividend. The ex-dividend date is Wednesday, February 6th. This represents a $0.10 annualized dividend and a yield of 0.47%. KB Home’s dividend payout ratio (DPR) is 35.46%.
KB Home Profile
KB Home operates as a homebuilding company in the United States. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers. The company also provides property and casualty insurance, as well as earthquake, flood, and personal property insurance to its homebuyers; title services; and mortgage banking services, including residential mortgage loan originations to its homebuyers.
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