KB Home (NYSE:KBH) Shares Purchased by New York State Common Retirement Fund

New York State Common Retirement Fund increased its position in KB Home (NYSE:KBH - Free Report) by 49.8% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 32,275 shares of the construction company's stock after acquiring an additional 10,733 shares during the period. New York State Common Retirement Fund's holdings in KB Home were worth $1,876,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Kesler Norman & Wride LLC grew its holdings in KB Home by 38.2% during the 1st quarter. Kesler Norman & Wride LLC now owns 12,783 shares of the construction company's stock valued at $743,000 after buying an additional 3,535 shares during the last quarter. DekaBank Deutsche Girozentrale boosted its holdings in shares of KB Home by 1.7% during the first quarter. DekaBank Deutsche Girozentrale now owns 12,854 shares of the construction company's stock worth $729,000 after purchasing an additional 221 shares during the last quarter. M&T Bank Corp boosted its holdings in shares of KB Home by 29.3% during the first quarter. M&T Bank Corp now owns 9,184 shares of the construction company's stock worth $534,000 after purchasing an additional 2,082 shares during the last quarter. Bank of New York Mellon Corp boosted its holdings in shares of KB Home by 0.9% during the first quarter. Bank of New York Mellon Corp now owns 763,666 shares of the construction company's stock worth $44,384,000 after purchasing an additional 6,856 shares during the last quarter. Finally, Generali Investments CEE investicni spolecnost a.s. boosted its holdings in shares of KB Home by 5.6% during the first quarter. Generali Investments CEE investicni spolecnost a.s. now owns 28,500 shares of the construction company's stock worth $1,656,000 after purchasing an additional 1,500 shares during the last quarter. Institutional investors and hedge funds own 96.09% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on KBH. Barclays set a $49.00 price objective on KB Home and gave the stock an "equal weight" rating in a report on Tuesday, June 24th. Wall Street Zen raised shares of KB Home from a "sell" rating to a "hold" rating in a research note on Saturday, July 12th. UBS Group cut their price target 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. Wells Fargo & Company reaffirmed an "underweight" rating and set a $52.00 price target (down previously from $53.00) on shares of KB Home in a research note on Tuesday, June 24th. Finally, Bank of America reduced their target price on KB Home from $58.00 to $54.00 and set a "neutral" rating on the stock in a report on Tuesday, June 24th. One research analyst has rated the stock with a sell rating, eight have issued a hold rating, three have issued a buy rating and one has assigned a strong buy rating to the stock. According to data from MarketBeat.com, KB Home presently has a consensus rating of "Hold" and a consensus target price of $66.14.

Insider Transactions at KB Home

In other news, COO Robert V. Mcgibney sold 14,000 shares of the company's stock in a transaction that occurred on 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. 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 can be accessed through the SEC website. Also, Director Arthur Reginald Collins sold 5,000 shares of the company's stock in a transaction that occurred on Friday, May 16th. The shares were sold at an average price of $54.38, for a total value of $271,900.00. Following the transaction, the director directly owned 10,262 shares of the company's stock, valued at $558,047.56. This trade represents a 32.76% decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 3.89% of the company's stock.

KB Home Stock Up 0.5%

KB Home stock traded up $0.28 during midday trading on Friday, hitting $56.83. The stock had a trading volume of 1,271,770 shares, compared to its average volume of 1,652,183. The company has a current ratio of 5.83, a quick ratio of 0.60 and a debt-to-equity ratio of 0.47. The stock has a market cap of $3.87 billion, a P/E ratio of 7.53, a P/E/G ratio of 4.57 and a beta of 1.34. KB Home has a 12 month low of $48.90 and a 12 month high of $89.70. The business has a fifty day moving average price of $53.44 and a 200 day moving average price of $57.66.

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

KB Home Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Thursday, August 21st. Stockholders of record on Thursday, August 7th will be given a $0.25 dividend. The ex-dividend date of this dividend is Thursday, August 7th. This represents a $1.00 dividend on an annualized basis and a dividend yield of 1.76%. KB Home's payout ratio is currently 13.25%.

KB Home 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.