Boston Common Asset Management LLC Reduces Position in KB Home $KBH

Key Points

• Boston Common Asset Management LLC significantly reduced its stake in KB Home, cutting its position by 51.8% during the second quarter, now holding about 0.13% of the company worth approximately $4.8 million.
• Several institutional investors have increased their holdings in KB Home, with notable increases from GAMMA Investing LLC at 9,450.3% and NBC Securities Inc. at 126,150.0%.
• KB Home's earnings report showed a decrease in revenue of 7.4% year-over-year, yet it managed to beat analysts' EPS estimates by reporting $1.61 per share.

Boston Common Asset Management LLC cut its position in KB Home (NYSE:KBH - Free Report) by 51.8% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 90,959 shares of the construction company's stock after selling 97,564 shares during the period. Boston Common Asset Management LLC owned 0.13% of KB Home worth $4,818,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other large investors also recently modified their holdings of KBH. Wealth Enhancement Advisory Services LLC increased its position in shares of KB Home by 7.6% in the 4th quarter. Wealth Enhancement Advisory Services LLC now owns 23,125 shares of the construction company's stock valued at $1,520,000 after purchasing an additional 1,631 shares during the last quarter. GAMMA Investing LLC grew its position in shares of KB Home by 9,450.3% in the 1st quarter. GAMMA Investing LLC now owns 96,363 shares of the construction company's stock valued at $5,601,000 after buying an additional 95,354 shares during the last quarter. Rhumbline Advisers grew its position in shares of KB Home by 24.9% in the 1st quarter. Rhumbline Advisers now owns 286,278 shares of the construction company's stock valued at $16,638,000 after buying an additional 56,994 shares during the last quarter. NBC Securities Inc. grew its position in shares of KB Home by 126,150.0% in the 1st quarter. NBC Securities Inc. now owns 5,050 shares of the construction company's stock valued at $293,000 after buying an additional 5,046 shares during the last quarter. Finally, UMB Bank n.a. grew its position in shares of KB Home by 1,256.9% in the 1st quarter. UMB Bank n.a. now owns 977 shares of the construction company's stock valued at $57,000 after buying an additional 905 shares during the last quarter. 96.09% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of research firms recently commented on KBH. Wall Street Zen raised shares of KB Home from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. JPMorgan Chase & Co. dropped their target price on shares of KB Home from $63.00 to $53.00 and set a "neutral" rating on the stock in a research report on Monday, September 29th. Bank of America raised their price objective on shares of KB Home from $60.00 to $67.00 and gave the stock a "neutral" rating in a research report on Thursday, September 18th. Barclays set a $49.00 price objective on shares of KB Home and gave the stock an "equal weight" rating in a research report on Tuesday, June 24th. Finally, Evercore ISI raised their price objective on shares of KB Home from $70.00 to $73.00 and gave the stock an "outperform" rating in a research report on Thursday, September 25th. One investment analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, ten have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $65.55.

KB Home Stock Up 1.6%

Shares of NYSE KBH opened at $65.75 on Friday. The company has a quick ratio of 0.23, a current ratio of 2.13 and a debt-to-equity ratio of 0.47. The firm has a 50-day moving average price of $62.64 and a 200 day moving average price of $57.06. KB Home has a 52 week low of $48.90 and a 52 week high of $85.92. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 8.71, a price-to-earnings-growth ratio of 5.37 and a beta of 1.40.

KB Home (NYSE:KBH - Get Free Report) last posted its earnings results on Wednesday, September 24th. The construction company reported $1.61 earnings per share for the quarter, beating the consensus estimate of $1.50 by $0.11. KB Home had a net margin of 7.92% and a return on equity of 12.91%. The firm had revenue of $1.62 billion during the quarter, compared to the consensus estimate of $1.59 billion. During the same period last year, the firm posted $2.04 EPS. The firm's revenue for the quarter was down 7.4% on a year-over-year basis. Equities research analysts anticipate that KB Home will post 8.42 EPS for the current fiscal year.

KB Home Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were issued a dividend of $0.25 per share. The ex-dividend date was Thursday, August 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.5%. KB Home's payout ratio is 13.25%.

Insider Transactions at KB Home

In related news, COO Robert V. Mcgibney sold 14,000 shares of the business's stock in a transaction that occurred on Tuesday, July 15th. The shares were sold at an average price of $53.52, for a total value of $749,280.00. Following the completion of the sale, the chief operating officer directly owned 78,345 shares in the company, valued at approximately $4,193,024.40. The trade was a 15.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 3.89% of the company's stock.

KB Home Company 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.

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