New York Life Investment Management LLC Sells 1,419 Shares of KB Home (NYSE:KBH)

New York Life Investment Management LLC lessened its holdings in KB Home (NYSE:KBHFree Report) by 13.8% during the 3rd quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 8,847 shares of the construction company’s stock after selling 1,419 shares during the quarter. New York Life Investment Management LLC’s holdings in KB Home were worth $409,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently bought and sold shares of KBH. Fuller & Thaler Asset Management Inc. grew its position in shares of KB Home by 125.5% during the 1st quarter. Fuller & Thaler Asset Management Inc. now owns 2,077,861 shares of the construction company’s stock worth $67,281,000 after buying an additional 1,156,233 shares in the last quarter. Norges Bank bought a new position in shares of KB Home during the 4th quarter worth $29,141,000. AQR Capital Management LLC grew its position in shares of KB Home by 90.9% during the 4th quarter. AQR Capital Management LLC now owns 1,436,592 shares of the construction company’s stock worth $45,655,000 after buying an additional 684,199 shares in the last quarter. Arrowstreet Capital Limited Partnership grew its position in shares of KB Home by 1,871.5% during the 1st quarter. Arrowstreet Capital Limited Partnership now owns 615,588 shares of the construction company’s stock worth $24,734,000 after buying an additional 584,363 shares in the last quarter. Finally, Goldman Sachs Group Inc. grew its position in shares of KB Home by 6,353.6% during the 2nd quarter. Goldman Sachs Group Inc. now owns 487,092 shares of the construction company’s stock worth $25,188,000 after buying an additional 494,881 shares in the last quarter. Institutional investors own 91.27% of the company’s stock.

Analyst Upgrades and Downgrades

KBH has been the topic of a number of recent research reports. Wedbush increased their price target on KB Home from $55.00 to $60.00 and gave the stock a “neutral” rating in a research report on Thursday, January 11th. Deutsche Bank Aktiengesellschaft downgraded KB Home from a “hold” rating to a “sell” rating and dropped their price objective for the company from $55.00 to $46.00 in a research report on Friday, December 8th. Raymond James raised their price objective on KB Home from $61.00 to $70.00 and gave the company an “outperform” rating in a research report on Thursday, January 18th. Seaport Res Ptn raised KB Home from a “neutral” rating to a “buy” rating in a research report on Friday, November 3rd. Finally, UBS Group raised their price objective on KB Home from $63.00 to $79.00 and gave the company a “buy” rating in a research report on Thursday, January 11th. One investment analyst has rated the stock with a sell rating, seven have issued a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat.com, KB Home currently has an average rating of “Hold” and an average price target of $58.18.

View Our Latest Analysis on KBH

Insider Activity

In other news, CFO Jeff Kaminski sold 4,928 shares of the business’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $59.86, for a total transaction of $294,990.08. Following the sale, the chief financial officer now directly owns 38,386 shares of the company’s stock, valued at $2,297,785.96. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Jeffrey T. Mezger sold 165,307 shares of the business’s stock in a transaction on Thursday, January 25th. The shares were sold at an average price of $59.40, for a total transaction of $9,819,235.80. Following the completion of the transaction, the chief executive officer now directly owns 1,491,298 shares in the company, valued at $88,583,101.20. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CFO Jeff Kaminski sold 4,928 shares of the business’s stock in a transaction on Wednesday, January 24th. The shares were sold at an average price of $59.86, for a total transaction of $294,990.08. Following the transaction, the chief financial officer now owns 38,386 shares of the company’s stock, valued at $2,297,785.96. The disclosure for this sale can be found here. Insiders have sold 373,635 shares of company stock valued at $22,400,005 over the last ninety days. 4.44% of the stock is currently owned by insiders.

KB Home Price Performance

Shares of KBH opened at $60.90 on Friday. The firm has a market capitalization of $4.62 billion, a PE ratio of 8.65, a price-to-earnings-growth ratio of 0.74 and a beta of 1.73. KB Home has a 1-year low of $33.92 and a 1-year high of $64.00. The company’s fifty day moving average price is $60.31 and its 200-day moving average price is $53.11.

KB Home (NYSE:KBHGet Free Report) last announced its quarterly earnings data on Wednesday, January 10th. The construction company reported $1.85 earnings per share for the quarter, beating analysts’ consensus estimates of $1.70 by $0.15. The firm had revenue of $1.67 billion for the quarter, compared to analyst estimates of $1.63 billion. KB Home had a net margin of 9.21% and a return on equity of 15.63%. The business’s quarterly revenue was down 13.9% compared to the same quarter last year. During the same period in the previous year, the company earned $2.47 earnings per share. As a group, research analysts anticipate that KB Home will post 7.59 EPS for the current fiscal year.

KB Home Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Thursday, February 22nd. Stockholders of record on Thursday, February 8th will be issued a dividend of $0.20 per share. This represents a $0.80 dividend on an annualized basis and a dividend yield of 1.31%. The ex-dividend date of this dividend is Wednesday, February 7th. KB Home’s dividend payout ratio (DPR) is presently 11.36%.

KB Home Company Profile

(Free Report)

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.

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Institutional Ownership by Quarter for KB Home (NYSE:KBH)

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