Edgestream Partners L.P. Sells 62,612 Shares of KB Home (NYSE:KBH)

Edgestream Partners L.P. lowered its holdings in shares of KB Home (NYSE:KBH - Free Report) by 94.3% during the first quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 3,763 shares of the construction company's stock after selling 62,612 shares during the quarter. Edgestream Partners L.P.'s holdings in KB Home were worth $219,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors have also modified their holdings of the business. Wealth Enhancement Advisory Services LLC increased its position in KB Home by 3.5% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 23,944 shares of the construction company's stock worth $1,392,000 after buying an additional 819 shares during the last quarter. Principal Financial Group Inc. lifted its position in shares of KB Home by 0.4% in the first quarter. Principal Financial Group Inc. now owns 208,222 shares of the construction company's stock worth $12,102,000 after buying an additional 902 shares during the last quarter. Bank of New York Mellon Corp boosted its stake in shares of KB Home by 0.9% during the 1st quarter. Bank of New York Mellon Corp now owns 763,666 shares of the construction company's stock worth $44,384,000 after acquiring an additional 6,856 shares in the last quarter. SG Americas Securities LLC increased its holdings in shares of KB Home by 11.5% during the 1st quarter. SG Americas Securities LLC now owns 10,252 shares of the construction company's stock valued at $596,000 after acquiring an additional 1,057 shares during the last quarter. Finally, GAMMA Investing LLC raised its stake in shares of KB Home by 64.3% in the 1st quarter. GAMMA Investing LLC now owns 1,658 shares of the construction company's stock valued at $96,000 after acquiring an additional 649 shares in the last quarter. Institutional investors own 96.09% of the company's stock.

KB Home Trading Down 3.0%

Shares of KBH opened at $53.92 on Monday. The stock's 50-day moving average price is $53.25 and its 200 day moving average price is $57.88. The company has a quick ratio of 0.60, a current ratio of 5.83 and a debt-to-equity ratio of 0.47. The firm has a market capitalization of $3.67 billion, a price-to-earnings ratio of 7.14, a P/E/G ratio of 4.33 and a beta of 1.34. KB Home has a 12-month low of $48.90 and a 12-month high of $89.70.

KB Home (NYSE:KBH - Get Free Report) last released its quarterly earnings data on Monday, June 23rd. The construction company reported $1.50 earnings per share (EPS) 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 business had revenue of $1.53 billion for the quarter, compared to analysts' expectations of $1.51 billion. During the same period in the previous year, the business posted $2.15 earnings per share. KB Home's quarterly revenue was down 10.5% on a year-over-year basis. As a group, research analysts predict that KB Home will post 8.42 earnings per share for the current year.

KB Home Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be issued a dividend of $0.25 per share. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.85%. The ex-dividend date is Thursday, August 7th. KB Home's payout ratio is 13.25%.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on KBH shares. Wall Street Zen upgraded KB Home from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Keefe, Bruyette & Woods reduced their price objective on shares of KB Home from $65.00 to $58.00 and set a "market perform" rating for the company in a research note on Thursday, June 26th. Royal Bank Of Canada lowered their target price on shares of KB Home from $67.00 to $63.00 and set a "sector perform" rating on the stock in a research note on Tuesday, March 25th. Bank of America dropped their target price on shares of KB Home from $58.00 to $54.00 and set a "neutral" rating on the stock in a report on Tuesday, June 24th. Finally, Wells Fargo & Company restated an "underweight" rating and set a $52.00 price target (down from $53.00) on shares of KB Home in a report on Tuesday, June 24th. One research analyst has rated the stock with a sell rating, eight have given a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Hold" and an average price target of $66.14.

Insider Activity

In other news, COO Robert V. Mcgibney sold 14,000 shares of the company's 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 approximately $4,193,024.40. This represents a 15.16% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this link. Also, Director Arthur Reginald Collins sold 5,000 shares of the stock in a transaction that occurred 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 transaction, the director directly owned 10,262 shares of the company's stock, valued at approximately $558,047.56. The trade was a 32.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. 3.89% of the stock is currently owned by insiders.

About KB Home

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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