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

Teachers Retirement System of The State of Kentucky trimmed its position in shares of KB Home (NYSE:KBH) by 2.3% during the third quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 27,609 shares of the construction company’s stock after selling 640 shares during the quarter. Teachers Retirement System of The State of Kentucky’s holdings in KB Home were worth $2,366,000 at the end of the most recent reporting period.

A number of other large investors also recently modified their holdings of the company. Financial Management Professionals Inc. acquired a new position in KB Home during the third quarter worth $32,000. Riggs Asset Managment Co. Inc. bought a new stake in shares of KB Home during the third quarter worth about $43,000. Banque Cantonale Vaudoise acquired a new stake in shares of KB Home in the 3rd quarter worth about $61,000. Quest Partners LLC lifted its position in KB Home by 101,600.0% in the 3rd quarter. Quest Partners LLC now owns 1,017 shares of the construction company’s stock valued at $87,000 after acquiring an additional 1,016 shares in the last quarter. Finally, Tortoise Investment Management LLC boosted its stake in KB Home by 625.3% during the 2nd quarter. Tortoise Investment Management LLC now owns 1,117 shares of the construction company’s stock valued at $78,000 after purchasing an additional 963 shares during the last quarter. 96.09% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several analysts have recently commented on the company. Bank of America increased their price objective on KB Home from $75.00 to $90.00 and gave the stock a “neutral” rating in a research note on Thursday, September 19th. JPMorgan Chase & Co. dropped their price objective on KB Home from $92.50 to $82.00 and set a “neutral” rating on the stock in a research note on Friday. Wells Fargo & Company lowered shares of KB Home from an “equal weight” rating to an “underweight” rating and upped their target price for the stock from $80.00 to $83.00 in a research note on Monday, October 7th. Royal Bank of Canada lowered shares of KB Home from a “sector perform” rating to an “underperform” rating and set a $70.00 price target on the stock. in a research report on Thursday, September 5th. Finally, Wedbush upped their price objective on shares of KB Home from $67.00 to $75.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Three equities research analysts have rated the stock with a sell rating, seven have given a hold rating and three have issued a buy rating to the company. According to data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $79.92.

KB Home Stock Down 2.9 %

KB Home stock opened at $71.42 on Monday. The firm has a 50 day moving average price of $79.83 and a 200-day moving average price of $78.45. KB Home has a twelve month low of $58.05 and a twelve month high of $89.70. The company has a market capitalization 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 earnings results on Tuesday, September 24th. The construction company reported $2.04 earnings per share (EPS) for the quarter, missing the consensus estimate of $2.06 by ($0.02). The firm had revenue of $1.75 billion during the quarter, compared to the consensus estimate of $1.73 billion. KB Home had a net margin of 9.31% and a return on equity of 15.69%. The business’s quarterly revenue was up 10.3% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.80 earnings per share. Equities analysts expect that KB Home will post 8.42 EPS for the current fiscal 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 given a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, November 14th. This represents a $1.00 dividend on an annualized basis and a yield of 1.40%. KB Home’s dividend payout ratio is presently 12.82%.

Insider Transactions at KB Home

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

KB Home Profile

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.