KB Home $KBH Shares Sold by Intech Investment Management LLC

Key Points

• Intech Investment Management LLC decreased its holdings in KB Home shares by 19.3%, now owning 48,520 shares valued at approximately $2.82 million.
• Wall Street analysts have adjusted their target prices for KB Home, with estimates ranging from $49.00 to $70.00, while maintaining a consensus rating of "Hold".
• KB Home reported quarterly earnings of $1.50 per share, surpassing analyst expectations, though revenue declined 10.5% year-over-year to $1.53 billion.

Intech Investment Management LLC lessened its stake in shares of KB Home (NYSE:KBH - Free Report) by 19.3% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm owned 48,520 shares of the construction company's stock after selling 11,580 shares during the period. Intech Investment Management LLC owned 0.07% of KB Home worth $2,820,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also modified their holdings of KBH. AQR Capital Management LLC raised its holdings in KB Home by 116.1% in the 1st quarter. AQR Capital Management LLC now owns 942,479 shares of the construction company's stock valued at $53,957,000 after buying an additional 506,415 shares during the period. Bank of New York Mellon Corp raised its holdings in KB Home by 0.9% in the 1st quarter. Bank of New York Mellon Corp now owns 763,666 shares of the construction company's stock valued at $44,384,000 after buying an additional 6,856 shares during the period. Two Sigma Advisers LP raised its holdings in 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 buying an additional 511,400 shares during the period. Systematic Financial Management LP raised its holdings in KB Home by 0.4% in the 1st quarter. Systematic Financial Management LP now owns 492,440 shares of the construction company's stock valued at $28,621,000 after buying an additional 2,137 shares during the period. Finally, Jacobs Levy Equity Management Inc. raised its holdings in KB Home by 326.7% in the 1st quarter. Jacobs Levy Equity Management Inc. now owns 456,200 shares of the construction company's stock valued at $26,514,000 after buying an additional 349,298 shares during the period. Hedge funds and other institutional investors own 96.09% of the company's stock.

Insider Activity at KB Home

In other news, COO Robert V. Mcgibney sold 14,000 shares of the business's stock in a transaction dated Tuesday, July 15th. The stock was sold at an average price of $53.52, for a total transaction of $749,280.00. Following the completion of the transaction, the chief operating officer directly owned 78,345 shares of the company's stock, valued at approximately $4,193,024.40. The trade was a 15.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Corporate insiders own 3.89% of the company's stock.

Analyst Ratings Changes

Several analysts recently issued reports on KBH shares. Wall Street Zen upgraded shares of KB Home from a "sell" rating to a "hold" rating in a report on Saturday, July 12th. Zacks Research upgraded shares of KB Home from a "strong sell" rating to a "hold" rating in a report on Friday, September 5th. Keefe, Bruyette & Woods reduced their price objective on shares of KB Home from $65.00 to $58.00 and set a "market perform" rating on the stock in a report on Thursday, June 26th. Bank of America boosted their price objective on shares of KB Home from $60.00 to $67.00 and gave the company a "neutral" rating in a report on Thursday. Finally, Evercore ISI dropped their target price on KB Home from $77.00 to $70.00 and set an "outperform" rating for the company in a research report on Tuesday, June 24th. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to data from MarketBeat, the company currently has an average rating of "Hold" and a consensus target price of $68.05.

KB Home Trading Down 1.7%

NYSE KBH traded down $1.09 during trading on Friday, hitting $63.92. The stock had a trading volume of 3,705,808 shares, compared to its average volume of 1,169,334. The company has a market capitalization of $4.35 billion, a PE ratio of 8.47, a PEG ratio of 5.28 and a beta of 1.36. 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 50 day moving average price of $61.10 and a 200 day moving average price of $56.98. KB Home has a twelve month low of $48.90 and a twelve month high of $89.45.

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

KB Home Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th were given a dividend of $0.25 per share. The ex-dividend date of this dividend 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 currently 13.25%.

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.