Hennessy Advisors Inc. Lowers Holdings in KB Home (NYSE:KBH)

Hennessy Advisors Inc. trimmed its holdings in shares of KB Home (NYSE:KBH - Free Report) by 8.9% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 611,500 shares of the construction company's stock after selling 59,800 shares during the quarter. KB Home accounts for about 1.2% of Hennessy Advisors Inc.'s portfolio, making the stock its 25th largest position. Hennessy Advisors Inc. owned approximately 0.85% of KB Home worth $35,540,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of KB Home during the fourth quarter worth about $49,638,000. Two Sigma Advisers LP lifted its holdings in shares of KB Home by 4,408.6% in the 4th quarter. Two Sigma Advisers LP now owns 523,000 shares of the construction company's stock valued at $34,372,000 after purchasing an additional 511,400 shares during the last quarter. First Trust Advisors LP grew its position in KB Home by 61.2% in the 4th quarter. First Trust Advisors LP now owns 1,327,809 shares of the construction company's stock valued at $87,264,000 after buying an additional 503,895 shares during the last quarter. Two Sigma Investments LP boosted its holdings in KB Home by 1,136.2% during the fourth quarter. Two Sigma Investments LP now owns 423,341 shares of the construction company's stock worth $27,822,000 after buying an additional 389,097 shares in the last quarter. Finally, Voloridge Investment Management LLC purchased a new stake in shares of KB Home in the fourth quarter valued at about $19,526,000. Hedge funds and other institutional investors own 96.09% of the company's stock.

KB Home Trading Down 4.5%

KBH stock traded down $2.40 during midday trading on Tuesday, hitting $50.59. The stock had a trading volume of 1,704,967 shares, compared to its average volume of 1,308,346. The company has a debt-to-equity ratio of 0.42, a current ratio of 5.51 and a quick ratio of 0.83. KB Home has a 12-month low of $48.90 and a 12-month high of $89.70. The company's 50-day moving average price is $52.96 and its 200 day moving average price is $60.86. The firm has a market cap of $3.63 billion, a PE ratio of 5.97, a price-to-earnings-growth ratio of 0.90 and a beta of 1.35.

KB Home (NYSE:KBH - Get Free Report) last posted its quarterly earnings data on Monday, March 24th. The construction company reported $1.49 earnings per share for the quarter, missing the consensus estimate of $1.56 by ($0.07). The firm 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% on a year-over-year basis. During the same quarter in the previous year, the firm posted $1.76 earnings per share. On average, equities research analysts predict that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, May 22nd. Shareholders of record on Thursday, May 8th were issued a dividend of $0.25 per share. This represents a $1.00 annualized dividend and a yield of 1.98%. The ex-dividend date was Thursday, May 8th. KB Home's dividend payout ratio is 12.20%.

Insider Transactions at KB Home

In other news, Director Arthur Reginald Collins sold 5,000 shares of the business's stock in a transaction dated Friday, May 16th. The stock was sold at an average price of $54.38, for a total transaction of $271,900.00. Following the completion of the transaction, the director now owns 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 sale 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.

Wall Street Analysts Forecast Growth

KBH has been the topic of a number of recent research reports. Wells Fargo & Company reduced their price objective on KB Home from $55.00 to $53.00 and set an "underweight" rating on the stock in a research note on Tuesday, June 3rd. Wall Street Zen downgraded shares of KB Home from a "hold" rating to a "sell" rating in a research report on Wednesday, March 26th. Royal Bank of Canada reduced their target price on shares of KB Home from $67.00 to $63.00 and set a "sector perform" rating for the company in a research note on Tuesday, March 25th. UBS Group reduced their target price on KB Home from $97.00 to $86.00 and set a "buy" rating for the company in a research report on Tuesday, March 25th. Finally, Wedbush restated a "neutral" rating and issued a $75.00 price objective on shares of KB Home in a report on Tuesday, March 25th. Two investment analysts have rated the stock with a sell rating, seven have assigned a hold rating, three have assigned a buy rating and one has given a strong buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and an average price target of $71.05.

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.