KB Home (NYSE:KBH) Holdings Cut by Bank of America Corp DE

Bank of America Corp DE cut its holdings in KB Home (NYSE:KBH - Free Report) by 60.3% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 376,217 shares of the construction company's stock after selling 571,297 shares during the period. Bank of America Corp DE owned about 0.52% of KB Home worth $24,725,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the business. Jones Financial Companies Lllp increased its position in shares of KB Home by 65.6% during the fourth quarter. Jones Financial Companies Lllp now owns 540 shares of the construction company's stock worth $36,000 after purchasing an additional 214 shares in the last quarter. Principal Securities Inc. increased its position in shares of KB Home by 43.6% during the fourth quarter. Principal Securities Inc. now owns 590 shares of the construction company's stock worth $39,000 after purchasing an additional 179 shares in the last quarter. Amundi grew its holdings in shares of KB Home by 29.6% during the fourth quarter. Amundi now owns 880 shares of the construction company's stock worth $58,000 after buying an additional 201 shares during the last quarter. Headlands Technologies LLC grew its holdings in shares of KB Home by 1,409.1% during the fourth quarter. Headlands Technologies LLC now owns 996 shares of the construction company's stock worth $65,000 after buying an additional 930 shares during the last quarter. Finally, Quarry LP grew its holdings in shares of KB Home by 4,540.9% during the fourth quarter. Quarry LP now owns 1,021 shares of the construction company's stock worth $67,000 after buying an additional 999 shares during the last quarter. 96.09% of the stock is currently owned by institutional investors and hedge funds.

KB Home Trading Up 0.1%

Shares of KB Home stock traded up $0.03 during trading hours on Friday, reaching $51.26. 1,445,502 shares of the company's stock were exchanged, compared to its average volume of 1,300,871. KB Home has a 52-week low of $48.90 and a 52-week high of $89.70. The firm has a market capitalization of $3.68 billion, a price-to-earnings ratio of 6.05, a price-to-earnings-growth ratio of 0.90 and a beta of 1.45. The company has a fifty day moving average of $54.69 and a 200-day moving average of $64.09. The company has a current ratio of 5.51, a quick ratio of 0.83 and a debt-to-equity ratio of 0.42.

KB Home (NYSE:KBH - Get Free Report) last issued its quarterly earnings results on Monday, March 24th. The construction company reported $1.49 earnings per share for the quarter, missing analysts' consensus estimates of $1.56 by ($0.07). The business had revenue of $1.39 billion for the quarter, compared to analysts' expectations of $1.51 billion. KB Home had a return on equity of 16.46% and a net margin of 9.45%. The company's revenue for the quarter was down 5.2% compared to the same quarter last year. During the same period in the prior year, the company earned $1.76 EPS. Sell-side analysts forecast that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Thursday, May 22nd. Stockholders of record on Thursday, May 8th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, May 8th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.95%. KB Home's payout ratio is 12.20%.

Insider Transactions at KB Home

In related news, Director Arthur Reginald Collins sold 5,000 shares of the stock in a transaction on Friday, May 16th. The stock was sold at an average price of $54.38, for a total value of $271,900.00. Following the completion of the sale, the director now directly owns 10,262 shares in the company, valued at approximately $558,047.56. This represents a 32.76% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 3.89% of the company's stock.

Analyst Ratings Changes

A number of research firms recently issued reports on KBH. Keefe, Bruyette & Woods lowered their price target on KB Home from $76.00 to $65.00 and set a "market perform" rating on the stock in a report on Wednesday, March 26th. Bank of America dropped their target price on KB Home from $67.00 to $62.00 and set a "neutral" rating on the stock in a research report on Tuesday, March 25th. Barclays dropped their target price on KB Home from $60.00 to $56.00 and set an "equal weight" rating on the stock in a research report on Tuesday, March 25th. Wedbush reiterated a "neutral" rating and set a $75.00 target price on shares of KB Home in a research report on Tuesday, March 25th. Finally, UBS Group dropped their target price on KB Home from $97.00 to $86.00 and set a "buy" rating on the stock in a research report on Tuesday, March 25th. Two research analysts have rated the stock with a sell rating, seven have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. Based on data from MarketBeat.com, KB Home currently has an average rating of "Hold" and an average target price of $71.23.

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.