KB Home $KBH Shares Sold by American Century Companies Inc.

Key Points

• American Century Companies Inc. cut its stake in KB Home by 26.2% in Q3, selling 110,279 shares and retaining 310,693 shares valued at about $19.77 million.
• KB Home beat quarterly EPS estimates ($1.92 vs. $1.79) even as revenue declined 15.5% year-over-year, and the company recently paid a quarterly dividend of $0.25 (annualized $1.00, yield 1.7%).
• Analyst coverage is mixed with a consensus "Hold" rating and a $62.92 average price target (two Buys, eleven Holds, two Sells).

American Century Companies Inc. lessened its stake in shares of KB Home (NYSE:KBH - Free Report) by 26.2% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 310,693 shares of the construction company's stock after selling 110,279 shares during the quarter. American Century Companies Inc. owned 0.48% of KB Home worth $19,773,000 as of its most recent SEC filing.

A number of other hedge funds have also recently made changes to their positions in KBH. Jones Financial Companies Lllp raised its position in KB Home by 44.4% in the third quarter. Jones Financial Companies Lllp now owns 781 shares of the construction company's stock valued at $49,000 after purchasing an additional 240 shares during the period. SBI Securities Co. Ltd. grew its position in KB Home by 2,848.4% in the 3rd quarter. SBI Securities Co. Ltd. now owns 914 shares of the construction company's stock valued at $58,000 after acquiring an additional 883 shares in the last quarter. Harbor Capital Advisors Inc. increased its stake in KB Home by 56.3% during the third quarter. Harbor Capital Advisors Inc. now owns 944 shares of the construction company's stock worth $60,000 after purchasing an additional 340 shares during the period. Stephens Consulting LLC increased its stake in KB Home by 199,900.0% during the third quarter. Stephens Consulting LLC now owns 2,000 shares of the construction company's stock worth $127,000 after purchasing an additional 1,999 shares during the period. Finally, Covestor Ltd lifted its position in shares of KB Home by 15.4% during the third quarter. Covestor Ltd now owns 2,020 shares of the construction company's stock worth $129,000 after purchasing an additional 270 shares in the last quarter. Hedge funds and other institutional investors own 96.09% of the company's stock.

KB Home Trading Down 0.7%

Shares of NYSE:KBH opened at $57.41 on Tuesday. KB Home has a 52 week low of $48.90 and a 52 week high of $68.71. The company's 50 day moving average is $60.78 and its two-hundred day moving average is $61.89. The company has a market cap of $3.63 billion, a PE ratio of 11.69, a P/E/G ratio of 7.60 and a beta of 1.47. The company has a current ratio of 5.77, a quick ratio of 0.53 and a debt-to-equity ratio of 0.43.

KB Home (NYSE:KBH - Get Free Report) last released its quarterly earnings data on Thursday, December 18th. The construction company reported $1.92 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.79 by $0.13. The business had revenue of $1.69 billion during the quarter, compared to analysts' expectations of $1.66 billion. KB Home had a net margin of 6.88% and a return on equity of 11.40%. The company's revenue for the quarter was down 15.5% on a year-over-year basis. During the same period in the previous year, the company earned $2.52 EPS. Equities 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 disclosed a quarterly dividend, which was paid on Thursday, February 19th. Stockholders of record on Thursday, February 5th were issued a $0.25 dividend. The ex-dividend date was Thursday, February 5th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.7%. KB Home's dividend payout ratio is presently 20.37%.

Wall Street Analysts Forecast Growth

A number of research analysts recently weighed in on the stock. Weiss Ratings restated a "hold (c+)" rating on shares of KB Home in a report on Thursday, January 22nd. Truist Financial began coverage on shares of KB Home in a research report on Tuesday, March 3rd. They issued a "hold" rating and a $65.00 price target for the company. JPMorgan Chase & Co. cut their price objective on KB Home from $71.00 to $50.00 and set a "neutral" rating on the stock in a research report on Monday, December 29th. Raymond James Financial cut KB Home from an "outperform" rating to a "market perform" rating in a research note on Wednesday, December 24th. Finally, Bank of America decreased their target price on KB Home from $62.00 to $58.00 and set a "neutral" rating for the company in a report on Monday, December 22nd. Two analysts have rated the stock with a Buy rating, eleven have issued a Hold rating and two have issued a Sell rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus price target of $62.92.

KB Home Profile

KB Home is an American homebuilding company headquartered in Los Angeles, California. Founded in 1957, it was among the first homebuilders to go public, offering investors access to one of the nation's largest residential construction platforms. The company is structured to serve a broad spectrum of homebuyers, with a particular focus on first-time, first move-up and active adult segments. As a public company trading on the New York Stock Exchange under the symbol KBH, KB Home draws on decades of experience in land acquisition, construction and community planning.

At its core, KB Home designs and constructs single-family detached and attached homes, townhomes and condominium units.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.