Teacher Retirement System of Texas Has $2.65 Million Stock Position in KB Home (NYSE:KBH)

Teacher Retirement System of Texas cut its position in KB Home (NYSE:KBH) by 17.5% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 40,350 shares of the construction company’s stock after selling 8,549 shares during the period. Teacher Retirement System of Texas owned 0.06% of KB Home worth $2,652,000 as of its most recent SEC filing.

Other large investors have also recently added to or reduced their stakes in the company. FMR LLC boosted its holdings in shares of KB Home by 47.9% in the 3rd quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock worth $463,690,000 after acquiring an additional 1,752,498 shares in the last quarter. State Street Corp boosted its stake in KB Home by 1.3% in the third quarter. State Street Corp now owns 3,539,328 shares of the construction company’s stock worth $303,285,000 after purchasing an additional 45,311 shares in the last quarter. Fisher Asset Management LLC grew its holdings in shares of KB Home by 3.4% during the fourth quarter. Fisher Asset Management LLC now owns 2,281,315 shares of the construction company’s stock worth $149,928,000 after purchasing an additional 75,143 shares during the last quarter. Geode Capital Management LLC increased its stake in shares of KB Home by 0.9% in the third quarter. Geode Capital Management LLC now owns 1,938,359 shares of the construction company’s stock valued at $166,125,000 after buying an additional 16,593 shares in the last quarter. Finally, Holocene Advisors LP bought a new position in shares of KB Home in the third quarter valued at about $89,899,000. 96.09% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on KBH shares. UBS Group lowered their price objective on shares of KB Home from $97.00 to $86.00 and set a “buy” rating for the company in a research report on Tuesday. Raymond James reaffirmed an “outperform” rating and set a $80.00 price objective (down previously from $93.00) on shares of KB Home in a report on Tuesday, January 21st. Royal Bank of Canada decreased their price objective on KB Home from $67.00 to $63.00 and set a “sector perform” rating on the stock in a research report on Tuesday. Barclays dropped their target price on KB Home from $60.00 to $56.00 and set an “equal weight” rating for the company in a research report on Tuesday. Finally, Wedbush reiterated a “neutral” rating and issued a $75.00 price objective on shares of KB Home in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, eight have given a hold rating, three have given a buy rating and one has issued a strong buy rating to the company. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $72.13.

Insider Activity

In related news, CFO Jeff Kaminski sold 27,500 shares of the business’s stock in a transaction on Tuesday, January 28th. The shares were sold at an average price of $68.77, for a total value of $1,891,175.00. Following the sale, the chief financial officer now directly owns 34,473 shares of the company’s stock, valued at approximately $2,370,708.21. The trade was a 44.37 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 3.89% of the company’s stock.

KB Home Trading Down 5.2 %

Shares of NYSE KBH opened at $58.56 on Wednesday. KB Home has a twelve month low of $56.41 and a twelve month high of $89.70. The stock has a market cap of $4.18 billion, a price-to-earnings ratio of 6.91, a P/E/G ratio of 0.90 and a beta of 1.89. The company has a quick ratio of 0.83, a current ratio of 5.51 and a debt-to-equity ratio of 0.42. The company’s fifty day moving average is $63.99 and its 200-day moving average is $72.81.

KB Home (NYSE:KBH) last posted its earnings results on Monday, March 24th. The construction company reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.07). The business had revenue of $1.39 billion for the quarter, compared to the consensus estimate of $1.51 billion. KB Home had a return on equity of 16.46% and a net margin of 9.45%. The business’s revenue was down 5.2% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.76 earnings per share. Equities research analysts predict that KB Home will post 8.42 EPS for the current year.

KB Home Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were paid a $0.25 dividend. This represents a $1.00 dividend on an annualized basis and a yield of 1.71%. The ex-dividend date was Thursday, February 6th. KB Home’s payout ratio is currently 11.81%.

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.