Lansforsakringar Fondforvaltning AB publ Sells 42,055 Shares of KB Home $KBH

Key Points

• Lansforsakringar Fondforvaltning AB publ has reduced its stake in KB Home by 23.9%, selling 42,055 shares and now holding 133,586 shares valued around $7.76 million as per their latest SEC filing.
• Institutional investors own 96.09% of KB Home's stock, with significant increases in holdings by Two Sigma Advisers LP and Two Sigma Investments LP during the fourth quarter.
• KB Home recently reported earnings of $1.50 per share, which exceeded analysts' expectations, but its quarterly revenue was down 10.5% year-over-year.

Lansforsakringar Fondforvaltning AB publ decreased its position in shares of KB Home (NYSE:KBH - Free Report) by 23.9% in the 1st quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 133,586 shares of the construction company's stock after selling 42,055 shares during the quarter. Lansforsakringar Fondforvaltning AB publ owned about 0.19% of KB Home worth $7,764,000 as of its most recent SEC filing.

Other hedge funds have also recently added to or reduced their stakes in the company. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its stake in KB Home by 0.6% during the 4th quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 37,019 shares of the construction company's stock valued at $2,433,000 after purchasing an additional 206 shares in the last quarter. CWM LLC increased its stake in KB Home by 11.8% during the 1st quarter. CWM LLC now owns 2,007 shares of the construction company's stock valued at $117,000 after purchasing an additional 212 shares in the last quarter. Vista Investment Management increased its stake in KB Home by 4.4% during the 4th quarter. Vista Investment Management now owns 5,097 shares of the construction company's stock valued at $335,000 after purchasing an additional 215 shares in the last quarter. DekaBank Deutsche Girozentrale increased its stake in KB Home by 1.7% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 12,854 shares of the construction company's stock valued at $729,000 after purchasing an additional 221 shares in the last quarter. Finally, Manchester Capital Management LLC increased its stake in KB Home by 30.1% during the 1st quarter. Manchester Capital Management LLC now owns 955 shares of the construction company's stock valued at $56,000 after purchasing an additional 221 shares in the last quarter. Institutional investors own 96.09% of the company's stock.

Insider Buying and Selling

In other KB Home news, COO Robert V. Mcgibney sold 14,000 shares of the company's stock in a transaction dated Tuesday, July 15th. The shares were sold at an average price of $53.52, for a total transaction of $749,280.00. Following the sale, the chief operating officer directly owned 78,345 shares of the company's stock, valued at $4,193,024.40. This represents a 15.16% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. 3.89% of the stock is currently owned by company insiders.

Analyst Ratings Changes

KBH has been the subject of a number of recent research reports. Wall Street Zen upgraded shares of KB Home from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. Bank of America decreased their price objective on shares of KB Home from $58.00 to $54.00 and set a "neutral" rating for the company in a report on Tuesday, June 24th. Keefe, Bruyette & Woods dropped their target price on shares of KB Home from $65.00 to $58.00 and set a "market perform" rating on the stock in a research note on Thursday, June 26th. Barclays set a $49.00 target price on shares of KB Home and gave the company an "equal weight" rating in a research note on Tuesday, June 24th. Finally, Wells Fargo & Company boosted their target price on shares of KB Home from $50.00 to $60.00 and gave the company an "underweight" rating in a research note on Tuesday. One research analyst has rated the stock with a Strong Buy rating, three have assigned a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $66.86.

KB Home Stock Performance

NYSE KBH traded up $1.96 during trading on Thursday, hitting $65.70. 534,211 shares of the company's stock traded hands, compared to its average volume of 1,467,350. The stock has a market capitalization of $4.47 billion, a price-to-earnings ratio of 8.69, a PEG ratio of 5.11 and a beta of 1.36. KB Home has a 12-month low of $48.90 and a 12-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 business has a 50 day moving average of $58.30 and a 200-day moving average of $56.65.

KB Home (NYSE:KBH - Get Free Report) last released its quarterly earnings data on Monday, June 23rd. The construction company reported $1.50 EPS for the quarter, beating the consensus estimate of $1.45 by $0.05. The business had revenue of $1.53 billion for the quarter, compared to the consensus estimate of $1.51 billion. KB Home had a net margin of 8.47% and a return on equity of 14.02%. The company's revenue was down 10.5% compared to the same quarter last year. During the same period in the prior year, the firm earned $2.15 earnings per share. As a group, equities research analysts anticipate that KB Home will post 8.42 earnings per share for the current fiscal year.

KB Home Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Thursday, August 21st. Shareholders of record on Thursday, August 7th were issued a dividend of $0.25 per share. The ex-dividend date of this dividend was Thursday, August 7th. This represents a $1.00 annualized dividend and a yield of 1.5%. KB Home's dividend payout ratio is 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.