Pictet Asset Management Holding SA Has $8.90 Million Stake in KB Home $KBH

Pictet Asset Management Holding SA reduced its position in shares of KB Home (NYSE:KBH) by 29.2% during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 172,064 shares of the construction company’s stock after selling 71,052 shares during the quarter. Pictet Asset Management Holding SA owned 0.27% of KB Home worth $8,904,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. First Horizon Corp grew its position in shares of KB Home by 178.9% in the 4th quarter. First Horizon Corp now owns 502 shares of the construction company’s stock valued at $28,000 after acquiring an additional 322 shares during the period. Parkside Financial Bank & Trust raised its holdings in shares of KB Home by 73.1% in the 4th quarter. Parkside Financial Bank & Trust now owns 592 shares of the construction company’s stock valued at $33,000 after purchasing an additional 250 shares during the period. Fulcrum Asset Management LLP bought a new stake in shares of KB Home in the 3rd quarter valued at about $36,000. Aventura Private Wealth LLC acquired a new stake in KB Home in the 4th quarter valued at about $46,000. Finally, Rothschild Investment LLC lifted its stake in KB Home by 391.0% in the 4th quarter. Rothschild Investment LLC now owns 820 shares of the construction company’s stock valued at $46,000 after purchasing an additional 653 shares during the last quarter. Institutional investors and hedge funds own 96.09% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on KBH shares. Barclays lifted their price target on KB Home from $56.00 to $57.00 and gave the stock an “overweight” rating in a report on Thursday, June 25th. Seaport Research Partners reaffirmed a “sell” rating and issued a $43.00 price objective (down from $65.00) on shares of KB Home in a research report on Tuesday, April 7th. Weiss Ratings downgraded KB Home from a “hold (c-)” rating to a “sell (d+)” rating in a research note on Thursday, May 7th. Citizens Jmp reissued a “market outperform” rating and set a $77.00 target price on shares of KB Home in a report on Wednesday, June 24th. Finally, Wall Street Zen raised KB Home from a “sell” rating to a “hold” rating in a report on Saturday, June 27th. Four research analysts have rated the stock with a Buy rating, ten have assigned a Hold rating and two have assigned a Sell rating to the stock. According to MarketBeat.com, KB Home currently has an average rating of “Hold” and a consensus price target of $60.17.

KB Home Stock Performance

Shares of KBH stock opened at $61.13 on Friday. The company has a market capitalization of $3.83 billion, a price-to-earnings ratio of 21.30, a PEG ratio of 10.29 and a beta of 1.34. The company has a 50-day simple moving average of $52.52 and a 200 day simple moving average of $55.96. KB Home has a 52 week low of $44.03 and a 52 week high of $68.71.

KB Home (NYSE:KBH) last announced its quarterly earnings results on Tuesday, June 23rd. The construction company reported $0.43 EPS for the quarter, missing analysts’ consensus estimates of $0.44 by ($0.01). The company had revenue of $1.11 billion during the quarter, compared to analyst estimates of $1.09 billion. KB Home had a net margin of 4.94% and a return on equity of 7.67%. The firm’s quarterly revenue was down 27.3% on a year-over-year basis. During the same quarter last year, the company posted $1.50 EPS. Sell-side analysts forecast that KB Home will post 3.25 EPS for the current year.

KB Home Announces Dividend

The company also recently announced a quarterly dividend, which was paid on Thursday, May 21st. Stockholders of record on Thursday, May 7th were given a $0.25 dividend. The ex-dividend date of this dividend was Thursday, May 7th. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. KB Home’s dividend payout ratio is presently 34.84%.

About KB Home

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.