KB Home $KBH Shares Sold by Dimensional Fund Advisors LP

Key Points

• Dimensional Fund Advisors LP reduced its position in KB Home by 3.8%, selling 96,422 shares, which brings their total ownership to approximately 2.4 million shares valued at $141 million.
• Several other hedge funds have significantly increased their holdings in KB Home, with Harbor Capital Advisors lifting its position by 73.7% during the same quarter.
• KB Home reported earnings surpassing analyst expectations with a net margin of 8.47%, but its revenue decreased by 10.5% year-over-year, indicating potential challenges ahead.

Dimensional Fund Advisors LP cut its holdings in shares of KB Home (NYSE:KBH - Free Report) by 3.8% in the first quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 2,427,224 shares of the construction company's stock after selling 96,422 shares during the quarter. Dimensional Fund Advisors LP owned about 3.38% of KB Home worth $141,067,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also modified their holdings of KBH. Harbor Capital Advisors Inc. grew its holdings in shares of KB Home by 73.7% during the 1st quarter. Harbor Capital Advisors Inc. now owns 608 shares of the construction company's stock worth $35,000 after purchasing an additional 258 shares during the period. Sachetta LLC boosted its holdings in KB Home by 3,142.9% during the 1st quarter. Sachetta LLC now owns 681 shares of the construction company's stock valued at $40,000 after acquiring an additional 660 shares during the period. Banque Cantonale Vaudoise purchased a new position in KB Home during the 1st quarter valued at about $40,000. Byrne Asset Management LLC boosted its holdings in KB Home by 51.8% during the 1st quarter. Byrne Asset Management LLC now owns 774 shares of the construction company's stock valued at $45,000 after acquiring an additional 264 shares during the period. Finally, Manchester Capital Management LLC boosted its holdings in KB Home by 30.1% during the 1st quarter. Manchester Capital Management LLC now owns 955 shares of the construction company's stock valued at $56,000 after acquiring an additional 221 shares during the period. 96.09% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on KBH shares. Keefe, Bruyette & Woods lowered their target price on KB Home from $65.00 to $58.00 and set a "market perform" rating for the company in a report on Thursday, June 26th. Wells Fargo & Company restated an "underweight" rating and set a $52.00 target price (down from $53.00) on shares of KB Home in a report on Tuesday, June 24th. Wall Street Zen raised KB Home from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Bank of America reduced their price target on KB Home from $58.00 to $54.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 24th. Finally, UBS Group reduced their price target on KB Home from $86.00 to $80.00 and set a "buy" rating on the stock in a research report on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating, seven have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $66.14.

Insider Buying and Selling at KB Home

In related news, COO Robert V. Mcgibney sold 14,000 shares of KB Home stock in a transaction that occurred on Tuesday, July 15th. The stock was sold at an average price of $53.52, for a total value of $749,280.00. Following the sale, the chief operating officer directly owned 78,345 shares in the company, valued at $4,193,024.40. The trade was a 15.16% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 3.89% of the stock is currently owned by company insiders.

KB Home Price Performance

Shares of KB Home stock traded down $0.54 during trading on Tuesday, reaching $63.21. The company's stock had a trading volume of 1,388,709 shares, compared to its average volume of 1,394,513. The company has a quick ratio of 0.60, a current ratio of 5.83 and a debt-to-equity ratio of 0.47. KB Home has a 12-month low of $48.90 and a 12-month high of $89.70. The company has a market capitalization of $4.30 billion, a P/E ratio of 8.37, a price-to-earnings-growth ratio of 5.12 and a beta of 1.34. The business has a 50 day moving average price of $56.92 and a 200-day moving average price of $56.63.

KB Home (NYSE:KBH - Get Free Report) last posted its quarterly earnings results on Monday, June 23rd. The construction company reported $1.50 earnings per share for the quarter, beating analysts' consensus estimates of $1.45 by $0.05. KB Home had a return on equity of 14.02% and a net margin of 8.47%.The firm had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. During the same period in the previous year, the business earned $2.15 earnings per share. The company's revenue for the quarter was down 10.5% compared to the same quarter last year. As a group, sell-side analysts anticipate that KB Home will post 8.42 EPS for the current year.

KB Home Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, August 21st. Investors of record on Thursday, August 7th were paid a $0.25 dividend. The ex-dividend date was Thursday, August 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.6%. KB Home's payout ratio is 13.25%.

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.