KB Home (NYSE:KBH) Shares Sold by TCW Group Inc.
TCW Group Inc. reduced its position in KB Home (NYSE:KBH) by 2.8% during the 1st quarter, HoldingsChannel reports. The firm owned 143,983 shares of the construction company’s stock after selling 4,155 shares during the quarter. TCW Group Inc.’s holdings in KB Home were worth $3,480,000 at the end of the most recent quarter.
Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in KBH. Norges Bank acquired a new position in shares of KB Home in the 4th quarter valued at about $25,280,000. Lakewood Capital Management LP acquired a new position in shares of KB Home in the 4th quarter valued at about $22,735,000. Oregon Public Employees Retirement Fund lifted its stake in shares of KB Home by 1,810.0% in the 4th quarter. Oregon Public Employees Retirement Fund now owns 636,622 shares of the construction company’s stock valued at $33,000 after purchasing an additional 603,291 shares in the last quarter. Braun Stacey Associates Inc. acquired a new position in shares of KB Home in the 1st quarter valued at about $6,771,000. Finally, Canada Pension Plan Investment Board lifted its stake in shares of KB Home by 82.0% in the 4th quarter. Canada Pension Plan Investment Board now owns 489,194 shares of the construction company’s stock valued at $9,343,000 after purchasing an additional 220,400 shares in the last quarter. 89.55% of the stock is currently owned by institutional investors and hedge funds.
Shares of NYSE:KBH traded up $0.07 during mid-day trading on Wednesday, hitting $26.07. 22,290 shares of the company traded hands, compared to its average volume of 1,703,695. The company has a market cap of $2.29 billion, a P/E ratio of 9.20, a PEG ratio of 1.22 and a beta of 1.50. The company has a debt-to-equity ratio of 1.04, a quick ratio of 0.98 and a current ratio of 5.37. KB Home has a 52-week low of $16.82 and a 52-week high of $28.33.
The business also recently announced a quarterly dividend, which was paid on Thursday, May 16th. Investors of record on Thursday, May 2nd were issued a dividend of $0.025 per share. The ex-dividend date of this dividend was Wednesday, May 1st. This represents a $0.10 annualized dividend and a dividend yield of 0.38%. KB Home’s payout ratio is currently 3.55%.
In related news, CEO Jeffrey T. Mezger sold 183,257 shares of the firm’s stock in a transaction dated Monday, April 15th. The stock was sold at an average price of $25.41, for a total transaction of $4,656,560.37. Following the sale, the chief executive officer now directly owns 1,056,532 shares in the company, valued at approximately $26,846,478.12. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, insider Jeffrey T. Mezger sold 489,258 shares of KB Home stock in a transaction that occurred on Wednesday, April 17th. The stock was sold at an average price of $25.37, for a total value of $12,412,475.46. Following the sale, the insider now owns 1,056,532 shares in the company, valued at $26,804,216.84. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 983,838 shares of company stock worth $25,116,916. Company insiders own 7.32% of the company’s stock.
KBH has been the topic of several research analyst reports. Barclays raised KB Home from an “equal weight” rating to an “overweight” rating and lifted their price objective for the company from $24.00 to $29.00 in a research note on Monday, May 13th. Wedbush reaffirmed a “neutral” rating and issued a $22.00 price objective on shares of KB Home in a research note on Thursday, March 21st. Credit Suisse Group reaffirmed a “sell” rating and issued a $17.00 price objective on shares of KB Home in a research note on Friday, February 15th. JPMorgan Chase & Co. raised KB Home from an “underweight” rating to a “neutral” rating and lifted their price objective for the company from $20.50 to $23.00 in a research note on Wednesday, April 10th. Finally, Raymond James lowered KB Home from an “outperform” rating to a “market perform” rating and set a $23.67 price objective on the stock. in a research note on Monday, February 25th. Two equities research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and seven have given a buy rating to the stock. The stock presently has an average rating of “Hold” and an average price target of $25.92.
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KB Home Company Profile
KB Home operates as a homebuilding company in the United States. It operates in four segments: West Coast, Southwest, Central, and Southeast. The company 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.
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