Martingale Asset Management L P Sells 4,682 Shares of KB Home $KBH

Key Points

• Martingale Asset Management L P reduced its stake in KB Home by 22.5%, owning 16,127 shares worth approximately $937,000 at the end of the quarter.
• Analysts have downgraded KB Home's price targets, with Keefe, Bruyette & Woods lowering their target to $58.00 and Wells Fargo setting it at $52.00, with a consensus rating of "Hold."
• KB Home recently announced a quarterly dividend of $0.25 per share, representing a 1.5% dividend yield and a payout ratio of 13.25%.

Martingale Asset Management L P decreased its position in shares of KB Home (NYSE:KBH - Free Report) by 22.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 16,127 shares of the construction company's stock after selling 4,682 shares during the period. Martingale Asset Management L P's holdings in KB Home were worth $937,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds have also added to or reduced their stakes in KBH. Harbor Capital Advisors Inc. lifted its stake in KB Home by 73.7% during the first 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 last quarter. Sachetta LLC raised its holdings in shares of KB Home by 3,142.9% during the 1st quarter. Sachetta LLC now owns 681 shares of the construction company's stock worth $40,000 after buying an additional 660 shares in the last quarter. Banque Cantonale Vaudoise bought a new stake in shares of KB Home during the 1st quarter worth $40,000. Byrne Asset Management LLC lifted its position in shares of KB Home by 51.8% during the 1st quarter. Byrne Asset Management LLC now owns 774 shares of the construction company's stock worth $45,000 after buying an additional 264 shares during the last quarter. Finally, Manchester Capital Management LLC boosted its stake in KB Home by 30.1% in the first quarter. Manchester Capital Management LLC now owns 955 shares of the construction company's stock valued at $56,000 after buying an additional 221 shares in the last quarter. 96.09% of the stock is owned by institutional investors.

KB Home Trading Down 0.3%

Shares of KBH stock traded down $0.20 on Friday, hitting $63.25. The company had a trading volume of 297,291 shares, compared to its average volume of 1,475,808. KB Home has a twelve month low of $48.90 and a twelve month high of $89.70. The company has a debt-to-equity ratio of 0.47, a quick ratio of 0.60 and a current ratio of 5.83. The firm has a market cap of $4.30 billion, a P/E ratio of 8.38, a P/E/G ratio of 5.09 and a beta of 1.34. The stock's 50-day moving average is $57.43 and its two-hundred day moving average is $56.68.

KB Home (NYSE:KBH - Get Free Report) last posted 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. The company had revenue of $1.53 billion for the quarter, compared to analyst estimates of $1.51 billion. KB Home had a return on equity of 14.02% and a net margin of 8.47%.The firm's quarterly revenue was down 10.5% on a year-over-year basis. During the same period in the previous year, the firm earned $2.15 earnings per share. On average, equities research analysts anticipate that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The company 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 was Thursday, August 7th. This represents a $1.00 annualized dividend and a dividend yield of 1.6%. KB Home's dividend payout ratio is 13.25%.

Insiders Place Their Bets

In related news, COO Robert V. Mcgibney sold 14,000 shares of KB Home stock in a transaction on Tuesday, July 15th. The shares were 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 owned 78,345 shares of the company's stock, valued at $4,193,024.40. This trade represents a 15.16% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. 3.89% of the stock is owned by corporate insiders.

Analysts Set New Price Targets

Several research analysts have commented on the company. Wells Fargo & Company reissued an "underweight" rating and set a $52.00 target price (down previously from $53.00) on shares of KB Home in a research note on Tuesday, June 24th. Wall Street Zen upgraded shares of KB Home from a "sell" rating to a "hold" rating in a research report on Saturday, July 12th. Bank of America cut their target price on shares of KB Home from $58.00 to $54.00 and set a "neutral" rating on the stock in a research report on Tuesday, June 24th. UBS Group decreased their target price on shares of KB Home from $86.00 to $80.00 and set a "buy" rating on the stock in a research note on Tuesday, June 24th. Finally, Evercore ISI dropped their price target on KB Home from $77.00 to $70.00 and set an "outperform" rating for the company in a research note on Tuesday, June 24th. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating, seven have issued a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $66.14.

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.