James Investment Research Inc. Sells 97,056 Shares of KB Home (KBH)
James Investment Research Inc. trimmed its position in shares of KB Home (NYSE:KBH) by 91.9% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 8,571 shares of the construction company’s stock after selling 97,056 shares during the period. James Investment Research Inc.’s holdings in KB Home were worth $163,000 at the end of the most recent reporting period.
Several other hedge funds have also recently added to or reduced their stakes in the stock. Bank of Montreal Can increased its stake in shares of KB Home by 11.5% during the fourth quarter. Bank of Montreal Can now owns 192,401 shares of the construction company’s stock worth $3,675,000 after buying an additional 19,780 shares during the period. Bowling Portfolio Management LLC increased its stake in KB Home by 7.4% in the fourth quarter. Bowling Portfolio Management LLC now owns 80,472 shares of the construction company’s stock valued at $1,537,000 after purchasing an additional 5,538 shares during the last quarter. Meeder Asset Management Inc. increased its stake in KB Home by 2,537.0% in the fourth quarter. Meeder Asset Management Inc. now owns 1,424 shares of the construction company’s stock valued at $27,000 after purchasing an additional 1,370 shares during the last quarter. Virtu Financial LLC purchased a new position in KB Home in the fourth quarter valued at approximately $320,000. Finally, Fox Run Management L.L.C. purchased a new position in KB Home in the fourth quarter valued at approximately $237,000. Hedge funds and other institutional investors own 86.45% of the company’s stock.
Several equities analysts have commented on KBH shares. Bank of America set a $30.00 price target on shares of KB Home and gave the company a “buy” rating in a research note on Thursday, October 11th. JMP Securities dropped their price target on shares of KB Home from $30.00 to $26.00 and set a “buy” rating on the stock in a research note on Monday, November 19th. Barclays dropped their price target on shares of KB Home from $27.00 to $21.00 and set an “equal weight” rating on the stock in a research note on Thursday, November 15th. Keefe, Bruyette & Woods reiterated a “hold” rating and issued a $23.00 price target on shares of KB Home in a research note on Friday, November 16th. Finally, Mizuho set a $23.00 price target on shares of KB Home and gave the company a “hold” rating in a research note on Thursday, November 15th. Four investment analysts have rated the stock with a sell rating, ten have issued a hold rating and six have given a buy rating to the stock. The stock presently has a consensus rating of “Hold” and a consensus target price of $26.13.
KB Home (NYSE:KBH) last posted its quarterly earnings data on Wednesday, January 9th. The construction company reported $0.96 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.93 by $0.03. The business had revenue of $1.35 billion during the quarter, compared to the consensus estimate of $1.33 billion. KB Home had a return on equity of 14.31% and a net margin of 3.75%. The company’s revenue was down 3.8% compared to the same quarter last year. During the same period in the prior year, the company earned $0.84 earnings per share. On average, sell-side analysts predict that KB Home will post 2.67 EPS for the current year.
The company also recently disclosed a quarterly dividend, which will be paid on Thursday, February 21st. Stockholders of record on Thursday, February 7th will be issued a $0.025 dividend. This represents a $0.10 annualized dividend and a dividend yield of 0.47%. The ex-dividend date is Wednesday, February 6th. KB Home’s payout ratio is currently 3.55%.
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About KB Home
KB Home operates as a homebuilding company in the United States. It builds and sells various homes, including attached and detached single-family residential homes, townhomes, and condominiums primarily for first-time, first move-up, and active adult homebuyers. The company also provides property and casualty insurance, as well as earthquake, flood, and personal property insurance to its homebuyers; title services; and mortgage banking services, including residential mortgage loan originations to its homebuyers.
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