New Mexico Educational Retirement Board Boosts Stake in KB Home (NYSE:KBH)

New Mexico Educational Retirement Board increased its stake in shares of KB Home (NYSE:KBH) by 39.7% in the first quarter, according to its most recent 13F filing with the SEC. The firm owned 20,400 shares of the construction company’s stock after purchasing an additional 5,800 shares during the period. New Mexico Educational Retirement Board’s holdings in KB Home were worth $369,000 at the end of the most recent reporting period.

Several other large investors also recently bought and sold shares of KBH. Victory Capital Management Inc. boosted its position in shares of KB Home by 7.5% during the 4th quarter. Victory Capital Management Inc. now owns 160,075 shares of the construction company’s stock worth $5,486,000 after purchasing an additional 11,151 shares during the period. Prudential Financial Inc. boosted its position in shares of KB Home by 8.1% during the 4th quarter. Prudential Financial Inc. now owns 61,022 shares of the construction company’s stock worth $2,091,000 after purchasing an additional 4,565 shares during the period. Great West Life Assurance Co. Can purchased a new position in shares of KB Home during the 4th quarter worth approximately $1,409,000. ProShare Advisors LLC boosted its position in shares of KB Home by 16.5% during the 4th quarter. ProShare Advisors LLC now owns 18,910 shares of the construction company’s stock worth $648,000 after purchasing an additional 2,677 shares during the period. Finally, Advisor Group Inc. boosted its position in KB Home by 128.4% in the 4th quarter. Advisor Group Inc. now owns 8,524 shares of the construction company’s stock valued at $291,000 after buying an additional 4,792 shares during the period. 89.52% of the stock is owned by hedge funds and other institutional investors.

Shares of NYSE:KBH opened at $29.37 on Friday. The company’s fifty day moving average price is $31.66 and its 200 day moving average price is $30.28. KB Home has a 12 month low of $9.82 and a 12 month high of $40.51. The company has a debt-to-equity ratio of 0.71, a current ratio of 5.74 and a quick ratio of 0.28. The firm has a market capitalization of $2.66 billion, a P/E ratio of 9.12, a P/E/G ratio of 1.91 and a beta of 1.98.

KB Home (NYSE:KBH) last posted its quarterly earnings data on Wednesday, June 24th. The construction company reported $0.55 EPS for the quarter, beating analysts’ consensus estimates of $0.52 by $0.03. The company had revenue of $913.97 million for the quarter, compared to analyst estimates of $1.08 billion. KB Home had a net margin of 6.43% and a return on equity of 12.65%. KB Home’s quarterly revenue was down 10.6% on a year-over-year basis. During the same period in the previous year, the business posted $0.51 earnings per share. On average, sell-side analysts anticipate that KB Home will post 2.43 EPS for the current year.

Several equities analysts have commented on the stock. Royal Bank of Canada decreased their price target on shares of KB Home from $34.00 to $33.00 and set a “sector perform” rating for the company in a research report on Thursday, June 25th. They noted that the move was a valuation call. Susquehanna Bancshares cut shares of KB Home from a “positive” rating to a “neutral” rating and set a $24.00 price target for the company. in a research report on Monday, April 13th. Barclays reissued a “buy” rating on shares of KB Home in a research report on Sunday, June 28th. Wedbush reissued a “neutral” rating and issued a $31.00 price target on shares of KB Home in a research report on Thursday, June 18th. Finally, TheStreet raised shares of KB Home from a “c+” rating to a “b-” rating in a research report on Wednesday, June 17th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating, seven have given a buy rating and two have given a strong buy rating to the company. KB Home currently has a consensus rating of “Hold” and an average price target of $34.17.

About KB Home

KB Home operates as a homebuilding company in the United States. It operates in four segments: West Coast, Southwest, Central, and Southeast. The company 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.

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

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