Geode Capital Management LLC Sells 108,977 Shares of KB Home $KBH

Geode Capital Management LLC trimmed its stake in shares of KB Home (NYSE:KBH) by 6.4% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 1,594,352 shares of the construction company’s stock after selling 108,977 shares during the quarter. Geode Capital Management LLC owned 2.52% of KB Home worth $89,951,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently made changes to their positions in KBH. First Horizon Corp raised its stake in shares of KB Home by 178.9% during the 4th quarter. First Horizon Corp now owns 502 shares of the construction company’s stock valued at $28,000 after purchasing an additional 322 shares during the period. Fulcrum Asset Management LLP bought a new stake in shares of KB Home during the 3rd quarter valued at $36,000. Aventura Private Wealth LLC bought a new stake in shares of KB Home during the 4th quarter valued at $46,000. Jones Financial Companies Lllp raised its stake in shares of KB Home by 44.4% during the 3rd quarter. Jones Financial Companies Lllp now owns 781 shares of the construction company’s stock valued at $49,000 after purchasing an additional 240 shares during the period. Finally, SBI Securities Co. Ltd. raised its stake in shares of KB Home by 2,848.4% during the 3rd quarter. SBI Securities Co. Ltd. now owns 914 shares of the construction company’s stock valued at $58,000 after purchasing an additional 883 shares during the period. 96.09% of the stock is currently owned by institutional investors.

KB Home Stock Up 0.2%

KB Home stock opened at $52.13 on Monday. KB Home has a 52 week low of $44.03 and a 52 week high of $68.71. The business has a 50-day simple moving average of $50.72 and a 200 day simple moving average of $56.81. The stock has a market cap of $3.27 billion, a price-to-earnings ratio of 13.23, a PEG ratio of 9.19 and a beta of 1.37.

KB Home (NYSE:KBH) last posted its earnings results on Tuesday, March 24th. The construction company reported $0.52 EPS for the quarter, hitting the consensus estimate of $0.52. KB Home had a return on equity of 9.63% and a net margin of 5.96%.The business had revenue of $1.08 billion during the quarter, compared to analysts’ expectations of $1.10 billion. During the same period in the previous year, the business earned $1.49 earnings per share. The firm’s revenue was down 22.6% on a year-over-year basis. On average, research analysts anticipate that KB Home will post 3.1 earnings per share for the current year.

KB Home Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Investors of record on Thursday, May 7th were given a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.9%. The ex-dividend date was Thursday, May 7th. KB Home’s payout ratio is presently 25.38%.

Wall Street Analysts Forecast Growth

A number of analysts recently issued reports on the company. Truist Financial decreased their price objective on KB Home from $54.00 to $50.00 and set a “hold” rating on the stock in a research note on Monday, May 4th. Royal Bank Of Canada decreased their price objective on KB Home from $54.00 to $53.00 and set a “sector perform” rating on the stock in a research note on Wednesday, March 25th. Bank of America decreased their price objective on KB Home from $63.00 to $56.00 and set a “neutral” rating on the stock in a research note on Wednesday, March 25th. Wells Fargo & Company decreased their price objective on KB Home from $55.00 to $50.00 and set an “underweight” rating on the stock in a research note on Wednesday, March 25th. Finally, UBS Group reduced their target price on KB Home from $71.00 to $63.00 and set a “buy” rating for the company in a research report on Wednesday, March 25th. Three research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and three have given a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $59.17.

KB Home Company Profile

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation’s largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.