Teachers Retirement System of The State of Kentucky Sells 640 Shares of KB Home (NYSE:KBH)

Teachers Retirement System of The State of Kentucky lowered its holdings in shares of KB Home (NYSE:KBH) by 2.3% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 27,609 shares of the construction company’s stock after selling 640 shares during the period. Teachers Retirement System of The State of Kentucky’s holdings in KB Home were worth $2,366,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds have also modified their holdings of KBH. Barclays PLC raised its stake in KB Home by 24.5% during the third quarter. Barclays PLC now owns 196,229 shares of the construction company’s stock worth $16,816,000 after acquiring an additional 38,638 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of KB Home by 22.1% during the 3rd quarter. Charles Schwab Investment Management Inc. now owns 906,236 shares of the construction company’s stock valued at $77,655,000 after purchasing an additional 164,010 shares during the last quarter. Neo Ivy Capital Management acquired a new position in KB Home during the 3rd quarter worth approximately $956,000. Cerity Partners LLC lifted its stake 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 last quarter. Finally, AdvisorShares Investments LLC bought a new position in KB Home in the 2nd quarter valued at approximately $479,000. 96.09% of the stock is currently owned by institutional investors.

Insider Buying and Selling at KB Home

In other news, CFO Jeff Kaminski sold 27,500 shares of KB Home stock in a transaction on Monday, October 14th. The shares were sold at an average price of $79.40, for a total value of $2,183,500.00. Following the completion of the sale, the chief financial officer now owns 34,473 shares in the company, valued at $2,737,156.20. The trade was a 44.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Insiders own 4.44% of the company’s stock.

KB Home Stock Performance

NYSE:KBH opened at $71.42 on Monday. KB Home has a 52 week low of $58.05 and a 52 week high of $89.70. The firm’s fifty day moving average is $79.83 and its 200-day moving average is $78.45. The firm has a market cap of $5.24 billion, a P/E ratio of 9.16, a P/E/G ratio of 0.59 and a beta of 1.81.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Tuesday, September 24th. The construction company reported $2.04 EPS for the quarter, missing analysts’ consensus estimates of $2.06 by ($0.02). KB Home had a net margin of 9.31% and a return on equity of 15.69%. The firm had revenue of $1.75 billion for the quarter, compared to the consensus estimate of $1.73 billion. During the same period last year, the company posted $1.80 EPS. The business’s revenue was up 10.3% compared to the same quarter last year. As a group, sell-side analysts anticipate that KB Home will post 8.42 earnings per share for the current year.

KB Home Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, November 27th. Shareholders of record on Thursday, November 14th were issued a $0.25 dividend. The ex-dividend date was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.40%. KB Home’s payout ratio is currently 12.82%.

Wall Street Analyst Weigh In

Several research analysts have recently issued reports on the stock. JPMorgan Chase & Co. lowered their price target on shares of KB Home from $92.50 to $82.00 and set a “neutral” rating for the company in a report on Friday. Wedbush upped their target price on KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Royal Bank of Canada lowered KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price target on the stock. in a research note on Thursday, September 5th. Barclays downgraded shares of KB Home from an “overweight” rating to an “equal weight” rating and cut their target price for the stock from $99.00 to $85.00 in a research report on Wednesday, December 11th. Finally, Wells Fargo & Company cut shares of KB Home from an “equal weight” rating to an “underweight” rating and upped their price target for the company from $80.00 to $83.00 in a research report on Monday, October 7th. Three analysts have rated the stock with a sell rating, seven have issued a hold rating and three have given a buy rating to the stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $79.92.

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.