Norges Bank Makes New Investment in KB Home (NYSE:KBH)

Norges Bank purchased a new stake in shares of KB Home (NYSE:KBH) in the 4th quarter, according to its most recent filing with the Securities and Exchange Commission. The fund purchased 755,297 shares of the construction company’s stock, valued at approximately $49,638,000. Norges Bank owned about 1.05% of KB Home at the end of the most recent reporting period.

Several other large investors have also made changes to their positions in the company. Jones Financial Companies Lllp raised its position in KB Home by 65.6% during the fourth quarter. Jones Financial Companies Lllp now owns 540 shares of the construction company’s stock valued at $36,000 after acquiring an additional 214 shares in the last quarter. Principal Securities Inc. raised its holdings in shares of KB Home by 43.6% during the 4th quarter. Principal Securities Inc. now owns 590 shares of the construction company’s stock valued at $39,000 after purchasing an additional 179 shares in the last quarter. Versant Capital Management Inc lifted its stake in shares of KB Home by 275.7% in the 4th quarter. Versant Capital Management Inc now owns 759 shares of the construction company’s stock valued at $50,000 after purchasing an additional 557 shares during the last quarter. Amundi boosted its holdings in KB Home by 29.6% in the fourth quarter. Amundi now owns 880 shares of the construction company’s stock worth $58,000 after purchasing an additional 201 shares in the last quarter. Finally, Wilmington Savings Fund Society FSB acquired a new position in KB Home during the third quarter worth $59,000. Institutional investors own 96.09% of the company’s stock.

KB Home Stock Up 3.6 %

NYSE KBH opened at $57.61 on Friday. KB Home has a twelve month low of $54.02 and a twelve month high of $89.70. The company has a debt-to-equity ratio of 0.42, a quick ratio of 0.83 and a current ratio of 5.51. The stock has a market cap of $4.12 billion, a PE ratio of 6.80, a PEG ratio of 0.90 and a beta of 1.89. The firm has a 50-day simple moving average of $62.45 and a 200 day simple moving average of $71.59.

KB Home (NYSE:KBH) last announced its quarterly earnings data on Monday, March 24th. The construction company reported $1.49 EPS for the quarter, missing analysts’ consensus estimates of $1.56 by ($0.07). The firm had revenue of $1.39 billion during 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%. KB Home’s revenue was down 5.2% compared to the same quarter last year. During the same quarter in the prior year, the business posted $1.76 EPS. On average, research analysts forecast that KB Home will post 8.42 EPS for the current year.

KB Home Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 20th. Shareholders of record on Thursday, February 6th were issued a $0.25 dividend. This represents a $1.00 annualized dividend and a yield of 1.74%. The ex-dividend date was Thursday, February 6th. KB Home’s dividend payout ratio (DPR) is presently 12.20%.

Analyst Ratings Changes

KBH has been the subject of a number of analyst reports. Barclays reduced their price target on KB Home from $60.00 to $56.00 and set an “equal weight” rating for the company in a research report on Tuesday, March 25th. The Goldman Sachs Group reduced their target price on KB Home from $81.00 to $72.00 and set a “neutral” rating for the company in a report on Friday, March 7th. UBS Group lowered their price target on KB Home from $97.00 to $86.00 and set a “buy” rating on the stock in a report on Tuesday, March 25th. Royal Bank of Canada reduced their price objective on shares of KB Home from $67.00 to $63.00 and set a “sector perform” rating for the company in a research note on Tuesday, March 25th. Finally, JPMorgan Chase & Co. lowered their target price on shares of KB Home from $82.00 to $74.50 and set a “neutral” rating on the stock in a research note on Wednesday, January 15th. Three research analysts have rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has issued a strong buy rating to the company’s stock. According to MarketBeat, KB Home presently has an average rating of “Hold” and a consensus price target of $71.21.

Insider Buying and Selling at KB Home

In related news, CFO Jeff Kaminski sold 27,500 shares of the company’s stock in a transaction dated 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 owns 34,473 shares of the company’s stock, valued at $2,370,708.21. The trade was a 44.37 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Insiders own 3.89% of the company’s stock.

KB Home Company 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.