KB Home (NYSE:KBH) Shares Sold by Allianz Asset Management GmbH

Allianz Asset Management GmbH decreased its stake in KB Home (NYSE:KBH) by 6.2% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 734,018 shares of the construction company’s stock after selling 48,317 shares during the period. Allianz Asset Management GmbH owned approximately 1.02% of KB Home worth $48,240,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in the stock. FMR LLC lifted its stake in shares of KB Home by 47.9% in the third quarter. FMR LLC now owns 5,411,255 shares of the construction company’s stock valued at $463,690,000 after purchasing an additional 1,752,498 shares during the period. State Street Corp increased its holdings in KB Home by 1.3% during the 3rd quarter. State Street Corp now owns 3,539,328 shares of the construction company’s stock valued at $303,285,000 after acquiring an additional 45,311 shares in the last quarter. Fisher Asset Management LLC increased its holdings in KB Home by 3.4% during the 3rd quarter. Fisher Asset Management LLC now owns 2,206,172 shares of the construction company’s stock valued at $189,047,000 after acquiring an additional 73,051 shares in the last quarter. Geode Capital Management LLC increased its holdings in KB Home by 0.9% during the 3rd quarter. Geode Capital Management LLC now owns 1,938,359 shares of the construction company’s stock valued at $166,125,000 after acquiring an additional 16,593 shares in the last quarter. Finally, Holocene Advisors LP purchased a new position in KB Home during the 3rd quarter valued at about $89,899,000. Institutional investors and hedge funds own 96.09% of the company’s stock.

KB Home Stock Performance

NYSE:KBH opened at $61.30 on Friday. KB Home has a 1-year low of $60.26 and a 1-year high of $89.70. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.51 and a quick ratio of 0.83. The firm has a 50 day simple moving average of $66.03 and a 200-day simple moving average of $75.94. The firm has a market cap of $4.42 billion, a PE ratio of 7.24, a P/E/G ratio of 0.90 and a beta of 1.86.

KB Home (NYSE:KBH) last issued its quarterly earnings results on Monday, January 13th. The construction company reported $2.52 EPS for the quarter, topping the consensus estimate of $2.44 by $0.08. KB Home had a net margin of 9.45% and a return on equity of 16.46%. The firm had revenue of $2 billion during the quarter, compared to analyst estimates of $1.99 billion. During the same quarter in the prior year, the business posted $1.85 earnings per share. KB Home’s revenue for the quarter was up 19.5% compared to the same quarter last year. On average, equities analysts expect 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. Investors of record on Thursday, February 6th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.63%. The ex-dividend date was Thursday, February 6th. KB Home’s dividend payout ratio (DPR) is 11.81%.

Insider Buying and Selling

In related news, CFO Jeff Kaminski sold 27,500 shares of the company’s stock in a transaction that occurred on Tuesday, January 28th. The shares were sold at an average price of $68.77, for a total transaction of $1,891,175.00. Following the completion of the transaction, the chief financial officer now owns 34,473 shares of the company’s stock, valued at approximately $2,370,708.21. This represents a 44.37 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 4.44% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on KBH. JPMorgan Chase & Co. dropped their target price on shares of KB Home from $82.00 to $74.50 and set a “neutral” rating for the company in a report on Wednesday, January 15th. Wells Fargo & Company dropped their target price on shares of KB Home from $70.00 to $65.00 and set an “underweight” rating for the company in a report on Tuesday, January 28th. Royal Bank of Canada upgraded shares of KB Home from an “underperform” rating to a “sector perform” rating and dropped their target price for the company from $70.00 to $67.00 in a report on Friday, January 10th. Raymond James restated an “outperform” rating and set a $80.00 target price (down from $93.00) on shares of KB Home in a report on Tuesday, January 21st. Finally, UBS Group dropped their target price on shares of KB Home from $105.00 to $100.00 and set a “buy” rating for the company in a report on Wednesday, January 8th. Two equities research analysts have rated the stock with a sell rating, nine have assigned a hold rating and three have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $76.21.

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.