California Public Employees Retirement System Cuts Holdings in KB Home (NYSE:KBH)

California Public Employees Retirement System decreased its stake in shares of KB Home (NYSE:KBH – Get Rating) by 7.3% during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 167,324 shares of the construction company’s stock after selling 13,191 shares during the quarter. California Public Employees Retirement System’s holdings in KB Home were worth $5,329,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Parallel Advisors LLC increased its holdings in KB Home by 45.4% during the 4th quarter. Parallel Advisors LLC now owns 922 shares of the construction company’s stock worth $29,000 after purchasing an additional 288 shares during the period. Whittier Trust Co. of Nevada Inc. purchased a new stake in KB Home during the 4th quarter worth about $29,000. Guardian Wealth Advisors LLC purchased a new stake in KB Home during the 3rd quarter worth about $27,000. CWM LLC increased its holdings in shares of KB Home by 111.9% in the 4th quarter. CWM LLC now owns 1,153 shares of the construction company’s stock valued at $37,000 after acquiring an additional 609 shares during the last quarter. Finally, Quadrant Capital Group LLC increased its holdings in shares of KB Home by 130.1% in the 3rd quarter. Quadrant Capital Group LLC now owns 1,254 shares of the construction company’s stock valued at $33,000 after acquiring an additional 709 shares during the last quarter. Hedge funds and other institutional investors own 89.29% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have recently commented on KBH. Wedbush reiterated an “outperform” rating and issued a $42.00 price objective on shares of KB Home in a report on Monday, March 20th. UBS Group increased their price objective on KB Home from $45.00 to $48.00 and gave the company a “buy” rating in a report on Thursday, March 23rd. Keefe, Bruyette & Woods increased their price objective on KB Home from $45.00 to $47.00 and gave the company a “market perform” rating in a report on Tuesday, March 28th. Barclays increased their price objective on KB Home from $42.00 to $51.00 and gave the company an “overweight” rating in a report on Friday, March 24th. Finally, StockNews.com began coverage on KB Home in a research report on Thursday. They issued a “hold” rating for the company. Eight investment analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, KB Home currently has an average rating of “Hold” and a consensus price target of $41.29.

Insider Activity at KB Home

In related news, CEO Jeffrey T. Mezger sold 150,000 shares of KB Home stock in a transaction that occurred on Tuesday, May 16th. The stock was sold at an average price of $45.26, for a total value of $6,789,000.00. Following the sale, the chief executive officer now directly owns 1,472,577 shares in the company, valued at $66,648,835.02. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Company insiders own 4.44% of the company’s stock.

KB Home Trading Up 0.5 %

KB Home stock opened at $46.03 on Friday. KB Home has a twelve month low of $24.78 and a twelve month high of $46.91. The stock has a market capitalization of $3.80 billion, a price-to-earnings ratio of 5.06, a PEG ratio of 1.22 and a beta of 1.61. The stock has a 50 day moving average of $40.79 and a two-hundred day moving average of $36.02.

KB Home (NYSE:KBH – Get Rating) last posted its quarterly earnings results on Wednesday, March 22nd. The construction company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.05 by $0.40. KB Home had a return on equity of 22.86% and a net margin of 11.73%. The firm had revenue of $1.38 billion for the quarter, compared to the consensus estimate of $1.30 billion. During the same period in the previous year, the business earned $1.47 earnings per share. The company’s revenue for the quarter was down 1.4% compared to the same quarter last year. Equities analysts predict that KB Home will post 5.27 earnings per share for the current year.

KB Home Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 18th. Investors of record on Thursday, May 4th were paid a $0.15 dividend. The ex-dividend date of this dividend was Wednesday, May 3rd. This represents a $0.60 dividend on an annualized basis and a dividend yield of 1.30%. KB Home’s dividend payout ratio (DPR) is presently 6.59%.

KB Home declared that its Board of Directors has initiated a stock repurchase program on Wednesday, March 22nd that permits the company to buyback $500.00 million in shares. This buyback authorization permits the construction company to purchase up to 15.2% of its shares through open market purchases. Shares buyback programs are typically an indication that the company’s board believes its stock is undervalued.

About KB Home

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KB Home engages in selling and building a variety of new homes. It builds various types of homes, including attached and detached single-family homes, townhomes, and condominiums. The firm operates through the following segments: West Coast, Southwest, Central, and Southeast. It offer homes in development communities, at urban in-fill locations and as part of mixed-use projects.